GRIGISKES

MATERIAL EVENT



ACTIVITY RESULTS OF  4 MONTHS OF 2003



(Unofficial translation done at the NSEL)



The sales and services of Grigiškės AB, the biggest producer of hardboard and

sanitary hygiene paper products in Lithuania,  during the four months of this

year amounted to LTL 24 million. Compared with the corresponding period last

year, the sales grew by 16 percent. Sales of February-April of 2002 totaled to

LTL 20.7 million. The sales and services of Grigiškės in April 2003 amounted to

LTL 6.3 million, which is nearly 12.5 percent more than in April last year

(LTL 5.6 million). During 4 months of this year, the company earned net profit

of LTL 2.377 million, or 4.6 times more than during the corresponding period

last year, i.e. around LTL 0.5 million. In April 2003, the company’s profit

amounted to LTL 680 thousand, which is 2.5 times more than in April last year

(LTL 275 thousand).





Gintautas Pangonis

Director General

(370 5) 243 58 01