GRIGISKES

MATERIAL EVENT



ACTIVITY RESULT OF JANUARY – JULY OF 2003



(Unofficial translation done at the NSEL)



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

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

year amounted to LTL 43.2 million or 24.5 percent more than the corresponding

period last year. The sales and services of January – July of 2002 totaled to

LTL 34.7 million. The sales and services in July 2003, compared with July of

last year, grew by 37.8 percent. In July of this year sales and services

amounted to LTL 6.2 million (in July of last year sales and services totaled

LTL 4.5 million).



During 7 months of this year, the company earned net profit

of LTL 3.6 million, or 4 times more than during the corresponding period

last year. In January – July of last year the profit was LTL 895 thousand.

In July of this year Grigiskes AB profit earned LTL 231 thousand, which is 11.6

percent more than in July last year (LTL 207 thousand).





Vigmantas Kažukauskas

Director at interim

(370 5) 243 59 65