Grigiskes AB - Notification on material event

Resolutions adopted at the meeting of the Board on 14 February 2008

JSC GRIGIŠKĖS, 110012450, Vilnius str. 10, Vilnius - Grigiškės.

To Lithuanian Securities Commission, Vilnius Stock Exchange, BNS, ELTA,
www.grigiskes.lt. 

The Board meeting on 14 February 2008 approved a budget and an investment plan
for the year 2008. This year the Group (AB “Grigiskes” and UAB “Baltwood”)
plans to invest to production LTL 26,7 mln. (EUR 7.7 mln.), reach a turnover of
LTL 200 mln. (EUR 57.9 mln.) and earn a profit before taxes of LTL 10 mln. (EUR
2.9 mln.). 
In the year 2007 the Group reached a turnover of LTL 144 mln. (EUR 41.71 mln.)
which is by 20 % more than for the year 2006 when the turnover was LTL 120 mln.
(EUR 34.75 mln.). In the year 2007 the Group earned an unaudited profit before
taxes of LTL 6.5 mln. (EUR 1.88 mln.). 
The most influence to lesser results had unexpected rise of raw material
prices. The price of main raw material such as wood, chips, gas and others rose
up by 35 % in the year 2007. Also unachieved the turnover plan because the new
Paper machine started working later as expected. 


Gintautas Pangonis
General Director
(+370-5) 243 58 01