SNAIGE

MATERIAL EVENT



RESOLUTIONS OF THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



The Extraordinary General Meeting of Shareholders held on 18 June

2004 passed the following resolutions:

1. To split the previous issue of the company’s shares without changing the

size of the authorised capital by reducing the nominal value per share from LTL

 15 to LTL 1 and by proportionately increasing the number of shares held by

each shareholder;

2. To approve the following order of changing the nominal value from LTL 15 to

LTL 1: To index the number of shares held by the company’s shareholders 15

times (i.e. to multiply by 15) before the day the documents of the EGM are

submitted to the manager of the Register of Enterprises. To inform about the

day of the document submission to the manager of the Register of Enterprises

the National Stock Exchange of Lithuania 5 days in advance in order to have

trading in the company’s shares suspended and accounting of the trading results

of the last trading session completed before the day of the document submission

to the manager of the Register of Enterprises. To obtain the list of registered

shareholders from the Central Securities Depository as of the day on which

documents concerning the change of the nominal value of the shares are

submitted to the manager of the Register of Enterprises. To submit the Report

on the indexation of the securities to the Central Securities Depository

specifying the number of shares held by each registered shareholder on the list

before and after indexation. The time of the change of the nominal value from

LTL 15 to LTL 1 shall be the day on which the change of the nominal value of

shares in the Articles of Association is registered with the Register of

Enterprises.





Giedrius Barysas

Director General

(+370-315) 56200