KAUNO ENERGIJA

MATERIAL EVENT



REGARDING SIGNING KAUNAS POWER-STATION’S  SALE CONTRACT



(Unofficial translation done at the NSEL)



On 31 March 2003 at 6 p.m. Kauno Termofikacinė Elektrinė UAB (Kaunas thermal

heat power-plant), established by the consortium of  Kauno Energija AB, Russian

Gazprom, Lithuanian Dujotekana and American Clement Power Venture Inc., signed

contracts of sale of the second biggest power-station  and thermal energy.

The consortium will pay for the power-station LTL 116.5 million, of which LTL

90 million must be transferred this week, while the remaining sum is to be

transferred by 31 December 2003. The buyer also assumed the obligation to

invest not less than LTL 400 million.





Jovita Sereikienė

Head of the Department

(370 37)  308 064