GRIGISKES

MATERIAL EVENT



PERFORMANCE RESULTS IN MARCH AND IN THE FIRST QUARTER OF 2004



(Unofficial Translation Done at the NSEL)



During the first three months of the current year the sales of Grigiskes AB,

the largest producer of hardboard and sanitary paper in Lithuania, amounted to

LTL 24,707,200; the company earned a profit of LTL 1,623,800. Compared with the

same period in 2003, the company’s profit went down by 4.3% (compare with LTL

1,697,000 last year), but the sales and services augmented by 39% (in 2003 they

made up LTL 17,768,000). In March 2004, the company Grigiskes AB gained a

profit of LTL 453,000, which is nearly by half lower than in March 2003

(in March 2003 the profit amounted to LTL 901,000). Despite the decreased

profit, in March the company’s sales and services soared by 46.4% compared with

the same period of the previous year and reached LTL 8,772,000. In March 2003,

the sales and services accounted for LTL 5,993,000.





Gintautas Pangonis

Director General

(+370-5) 243 58 00