LISCO BALTIC SERVICE

MATERIAL EVENT



RESOLUTIONS OF THE GENERAL SHAREHOLDERS' MEETING



The General Shareholders’ Meeting of AB "LISCO

BALTIC SERVICE" held on the 29th of April, 2004

adopted the following resolutions: to approve the

Report of the Board on company’s business activities

for the year 2003, to establish the conditions of

payment for audit company’s services in 2003, to

approve UAB "KPMG Lietuva" as the firm of auditors

for the year 2004, to approve the auditor’s report,

financial statements and profit (loss) distribution

for the year 2003 (the shareholders resolved not to

pay dividends for the year 2003).



The shareholders resolved to increase the company’s

authorised capital by issuing 12.000.000 (twelve million)

units of ordinary registered uncertificated shares with

par value of 1 (one) Litas with the right to acquire

them only to the shareholders in proportion to the

par value of the shares owned by them on the day of

adoption of this resolution. To fix the share issue

price equal to its par value. To determine, that the

newly issued shares shall be subscribed not later than

30 (thirty) days after the share issue registration

with the Securities Commission, and the time limit

for the payment of the shares subscribed shall not be

longer than 30 (thirty) days after the subscription of

the shares. In case of undersubscription of the shares

during the subscription period, to increase the

authorised capital by the amount equal to the sum of

par values of the shares actually subscribed for.



The shareholders also resolved to grant a right to

the company to acquire, in accordance with the order

and conditions established by the laws of the Republic

of Lithuania, its own shares from the shareholders

desiring to sell their shares. Such acquisition shall

be implemented by the administration of the Company

subject to the instructions of the Board. Permitted

maximum amount of shares to be acquired including those

already acquired and held by the Company – not more

than 1/10 of the authorized capital of the Company.

The time limit during which the Company may acquire

its shares – 18 months from the date this decision is

adopted. Minimal price per one registered share with

par value of 1 litas is 20% lower than the weighted

average market price of these company shares at the

National Stock Exchange of Lithuania during the calendar

month preceding the calendar week in which the share

purchase transaction is entered into. Maximal price

per one registered share with par value of 1 litas

is 20% higher than the weighted average market price

of these company shares at the National Stock Exchange

of Lithuania during the calendar month preceding the

calendar week in which the share purchase transaction

is entered into. The company may sell own shares at the

National Stock Exchange of Lithuania by ensuring equal

opportunities for all shareholders to acquire the shares

of the company. Minimal price of the shares being sold

should not be lower than the weighted average market

price of these company shares at the National Stock

Exchange of Lithuania during the calendar month

preceding the calendar week in which the share purchase

transaction is entered into.



The shareholders also resolved to approve the new

edition of Articles of Association according to

the Law amending the Law on Companies No. IX-1889

of 11th December 2003.





Martynas Jonkus

Chief Counsel

8-46 393 631