Invalda AB

Company event



Resolutions of the extraordinary general meeting of shareholders



The extraordinary general meeting of shareholders held on 16 September 2004

decided to reorganise Invalda AB, Pastana AB, Gildyta AB and Kremi AB by way of

division, of Gildeta AB and Kremi AB, which will cease to exist as legal persons

after the reorganisation, and Invalda AB and Pastana AB, which will continue to

operate after the reorganisation, and approved the reorganisation conditions.



The meeting decided on the revocation of the shareholders' pre-emptive right to

subscribe for the newly issued shares of Invalda AB; passed a decision regarding

the increase of the authorised capital of the company up to LTL 40417339, by

issuing a new issue of 2417339 ordinary registered shares with the nominal value

of 1 litas. The new issue is being generated with the purpose of replacement of

shares as provided for in the reorganisation plan, by means of which the shares

owned by Nenuorama UAB, a shareholder of Kemi AB, will be replaced by the shares

of Invalda AB.



The meeting also approved the new wording of the company's Articles of

Association.





Alvydas Banys

Vice-President

(+370 5) 279 06 01