VAKARŲ SKIRSTOMIEJI TINKLAI

MATERIAL EVENT



CONCERNING IMPLEMENTATION OF RESOLUTIONS TO INCREASE THE AUTHORIZED CAPITAL

PASSED BY THE GENERAL SHAREHOLDERS’ MEETING ON 17 OCTOBER 2002



(Unofficial translation done at the NSEL)



On 17 October 2002, an extraordinary general shareholders’ meeting resolved to

increase the authorised capital by property contributions. One of the

shareholders appealed against the resolutions of the meeting in court.

On 2 April 2003, the Kaunas District Court rejected the claim of the

shareholder, and on 12 November 2003 the Kaunas County Court dismissed the

shareholder’s appeal leaving the decision of the District Court in power.



On 10 December 2003, the Company decided:

1.Not to appeal to court as to renewal of the terms of the share issue

distribution announced under resolutions of the extraordinary general

shareholders’ meeting No 2 of Vakarų Skirstomieji Tinklai AB as of

17 October 2002;

2.Authorize the Administration to submit the Report on distribution of

securities to the Securities Commission in the manner prescribed by law.





Rimantas Vensas

Head of Public Relations and Information Department

(+370-37) 30 97 27