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Invalda AB: Conditions for reorganization

Invalda AB                           Material Event                                 16-05-2006

Conditions for reorganization

Pursuant to Article 101, paragraph 1 of Book Two of the Civil Code of the Republic of
Lithuania, and Art. 65, paragraph 1 of the Law on Companies of the Republic of Lithuania,
hereby inform about the prepared conditions of reorganizing the companies specified below:

Company undergoing reorganization:
Pozityvios investicijos AB; company name – Pozityvios investicijos AB; legal form-public
company; office address – Vilnius city municipality, city of  Vilnius, Konstitucijos 23;
code 1258 28616; the company is not a payer of VAT; authorized capital – 400,000
(four hundred thousand) litas; subscribed authorized capital – 400,000 ( four hundred
thousand) litas; register wherein  information about the company is filed and stored –
Register of Legal Entities; keeper of the Register – state enterprise Centre of Registers,
Vilnius Branch, Division of Legal Entities.

Company participating in reorganization:
Invalda AB; name of the company –Invalda AB; legal form – public company; office
address – Vilnius city municipality, city of Vilnius , Šeimyniškių g. 3; corporate
code 1213 04349; VAT payer code: LT213043414; authorized capital 41734662 litas;
subscribed authorized capital 41734662 litas;  register wherein  information about the company
are filed and stored – Register of Legal Entities; keeper of the register – State enterprise
Centre of Registers, Vilnius Branch, Division of Legal Entities.

The companies are reorganized by way of merger, by merging Pozityvios investicijos AB
(the company undergoing reorganization) which shall terminate its operation, to the
public company Invalda (company participating in reorganization), which shall continue
operation and assume all rights and duties of the company undergoing reorganization.
After the reorganization, the  assets, rights and duties  of the disappearing company; rights
and duties  under transactions shall pass over to the company that will operate after the
reorganization, and the assets and transactions shall be included into the accounting of the
latter company since 30 06 2006. 
The reorganization conditions; new edition of Invalda’s Articles of Association; annual
financial statements of the companies undergoing reorganization and participating in
reorganization; report of assessing the reorganization conditions; reports  drawn by  the
Board of the public company Invalda and  head of the public company Pozityvios
investicijos on the intended reorganization are available for  familiarization at:
Šeimyniškių g. 3, Vilnius, or Konstitucijos pr. 23, Vilnius on every working day from
8 a.m. till 4 p.m., also on the website www.invalda.lt. Additional information is provided
by the telephones: in the public company Invalda – 8(5) 2790601; Pozityvios
investicijos AB – 8 (5) 2786841.

Alvydas Banys
Chairman of the Board
+370 5 279 06 91