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Invalda: Increase of the Block of Shares

INVALDA  MATERIAL EVENT    INCREASE OF THE BLOCK OF SHARES    (Unofficial Translation Done at the NSEL)    (1)On 22 December 2003, the Company repurchased 1,000,000 (one million) shares  of Vilniaus Baldu Kombinatas AB and increased its participating interest to  67.7 %.  (2)After the Company’s legal status has changed, the issued securities are to  be reregistered. Shareholders willing to receive the statement of securities  account may request it at the financial brokerage house Finasta AB  (23 Konstitucijos ave., section B, 3rd floor). For more information call at  (+370-5) 278 68 33.      Alvydas Banys  Vice President  (+370-5) 279 06 91

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