Lietuvos energija, AB - Notification on material event

The Board of Lietuvos energija, AB has adopted a decision not to establish a joint enterprise with Kauno energija AB

Elektrėnai, Lithuania, 2011-10-03 12:29 CEST (GLOBE NEWSWIRE) -- The Board of
Lietuvos energija, AB, having regard to the resolution of the Board of Kauno
energija AB not to establish a joint enterprise with Lietuvos energija, AB due
to the construction of the new bio-fuel cogeneration power plant in Kaunas in
the territory of Petrašiūnai power plant, has terminated the process of
establishment of the joint venture. The project was planned to be accomplished
in three years' time, i.e. before 2014. The planned authorised capital of the
future enterprise reached LTL 200,000, and Lietuvos energija, AB and Kauno
energija AB would acquire 67 percent and 33 percent of the future enterprise
respectively. 


         Jūratė Kavaliauskaitė
         Head of Communications, Lietuvos energija, AB
         Phone: +370 528 33691
         E-mail: jurate.kavaliauskaite@le.lt