REPUBLIC OF LITHUANIA                                     
                                                                                
                               LAW                                              
             ON THE PRIORITY OF EMPLOYEES TO ACQUIRE                            
      THE PROPERTY OF ENTERPRISES SUBJECT TO PRIVATISATION                      
                                                                                
     Article 1.  Blocks of shares, which by the right of priority               
may be  acquired by  employees  of  the  enterprises  subject  to               
privatisation,  individuals   who  went   on  pension  from  said               
enterprises, as  well as  former employees  of  such  enterprises               
whose service  record in said enterprises is at least 25 years or               
individuals who became disabled while working in said enterprises               
(Supplemented 28  January 1993),  shall be  provided for  in  the               
privatisation programmes  of state  enterprises and  state  stock               
enterprises which,  pursuant to  the Republic of Lithuania Law on               
Initial Privatisation  of State Property, are being privatised by               
the issue of shares.                                                            
                                                                                
     Article 2.  Blocks of  shares which by the right of priority               
may be  acquired by  individuals indicated  in Article  1 of this               
Law, shall  be established  in such  a manner  that the total par               
value of  shares sold  in such  a way, along with private capital               
which was  accumulated earlier and which belongs to the employees               
of said  enterprise, comprise up to 50 percent (inclusive) of the               
enterprise's authorised capital (Amended 1 February 1993).                      
                                                                                
     Article 3.  Pursuant to this Law, sold shares, the par value               
of which,  along with  private capital belonging to the employees               
of the  enterprise,  comprise  30  percent  of  the  enterprise's               
authorised capital  shall  be  ordinary  registered  shares.  The               
remaining shares  shall be  sold as preference shares without the               
voting right.                                                                   
                                                                                
     The price  of shares  which are  sold pursuant  to this  Law               
shall be  equal to their par value, while the price of preference               
shares shall  be equal to the par value of the share increased by               
one half of the difference between the fixed initial price of the               
share at  the first  stage of subscription for shares and the par               
value of the share (Amended 28 January 1993).                                   
                                                                                
     Article 4. Blocks of shares which, by the right of priority,               
may be  acquired  by  employees  of  the  enterprise  subject  to               
privatisation and  individuals who  went  on  pension  from  said               
enterprise or  who became  disabled while working in it, shall be               
sold  in   accordance  with  the  procedure  established  by  the               
Government of the Republic of Lithuania.                                        
                                                                                
     Article 5.  Shares which  have not  been sold  in accordance               
with this  Law shall  be sold,  together with  other shares whose               
issue shall  be prescribed  in the  privatisation  programmes  of               
enterprises, in  accordance with  the general  procedure provided               
for in  the Republic of Lithuania Law on Initial Privatisation of               
State Property.                                                                 
                                                                                
Vytautas Landsbergis                                                            
President                                                                       
Supreme Council                                                                 
Republic of Lithuania                                                           
                                                                                
Vilnius                                                                         
7 April 1992                                                                    
No.I-2456