KLAIPEDOS BALDAI

MATERIAL EVENT



RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



The following decisions were made during the annual general meeting of

shareholders on 13 April 2004:

1)Approve the auditor’s report.

2)Approve the company’s Annual Report for 2003.

3)Approve financial accounts for 2003 (LTL 80,264,324 of assets; LTL 3,909,422

of net profit).   

4)Approve profit appropriation:

LTL 816,631 for dividends;

LTL 2,407,017 for other appropriations

LTL 16,880,765 of the remaining profit to be left unappropriated, to be used

to supplement working capital.

5)Elect PricewaterhouseCoopers the auditor for 2004 and determine payment for

its services.

6)Elect a new Supervisory Board of the Company: representatives of concern SBA

UAB Ms. Dalia Maleckiene, Mr. Egidijus Valentinavicius and Mr. Virgilijus

Rancys.

7)Approve the new wording of the Articles of Association.

8)Approve the following decisions of the Management Board:

a)to extend the loan agreement of EUR 500,000 and to put long-term assets and

stock as collateral;

b)to offer Nord/LB Lietuva bank surety in the amount of all Company assets for

the loan of EUR 2,115,000 granted to SBA UAB;

c)to renew an investment credit agreement of EUR 2,544,000 with Vilniaus bank

AB until 1 October 2009 and to put long-term assets, stock and cash in bank as

collateral.





Dalius Jarmalavicius

Finance Director

(+370-46) -313958