Grigiskes AB - Notification on material event

Heat generation equipment modernize project

JSC Grigiskes has allotted a tender to receive a Cohesion fund grant for the
heat generation equipment modernize project value of which is 19.1 million
Litas. With the EU grant Company plans to obtain a 15 MW wood fuel steam
boiler. It is supposed that the new steam boiler will produce 83 thousand MWh
of heat energy per year. The objectives of the project are to provide energy
more defensively and to reduce business risks. Following the recommendations of
Ministry of Economy JSC Grigiskes received the approbation from National
Control Commission for Prices and Energy for the project. Gintautas Pangonis
General Director
(+370-5) 243 58 01