GRIGISKES

MATERIAL EVENT



ACTIVITY RESULT DURING JANUARY - AUGUST 2003



(Unofficial translation done at the NSEL)



During eight first months of the current year, Grigiskes AB the biggest company

in Lithuania producing wood pulp hardboard and sanitary hygiene paper has sold

products and services for LTL 49 m 152 thousand, which is by 13,9% more in

comparison

with the corresponding period last year, when the company sold products and

services for LTL 43 m 143 thousand. In August sales increased by 10,1 %. Sales

of products and services in August this year amounted to LTL 5 m 921 thousand,

last August sales reached LTL 5m 376 thousand.



Grigiskes AB reported a LTL 4 m 138 thousand net profit during eight first

months of the current year - 3.2 times higher than last year during the

corresponding period when company reported a LTL 1 m 298 thousand net profit.

Profit increased by 1.3 times comparing August of this year with the last year

August, from LTL 402 thousand last year up to 529 thousand this year.

In August of this year the profit increased 1.3 times from LTL 402 000 to LTL

529 000 in comparison with the same period last year.





Gintautas Pangonis

Managing Director

(370 5) 243 58 00