RESOLUTION                                           
                                                                                
       OF THE SUPREME COUNCIL OF THE REPUBLIC OF LITHUANIA                      
  REGARDING THE PROCEDURE FOR THE APPLICATION OF THE LAW ON THE                 
 AMENDMENTS AND SUPPLEMENTS TO THE LAW ON FOREIGN INVESTMENT IN                 
                    THE REPUBLIC OF LITHUANIA                                   
                                                                                
                                                                                
     The Supreme Council of the Republic of Lithuania resolves:                 
     1. To  establish  that  restrictions  to  foreign  investors               
prescribed by  Article 27  of the  Law shall not apply to natural               
persons foreigners,  who submit  documents confirming their right               
to the  citizenship of  the Republic  of Lithuania,  and who  are               
investing capital in Lithuania.                                                 
     2. To  establish that  firms the income of which was derived               
solely from  their own products, and which exempt from profit tax               
under Article 29 of the Law on Foreign Investment in the Republic               
of Lithuania,  enacted on  29 December 1990, shall be exempt from               
profit tax for the prescribed period.                                           
     3. To commission the Government of the Republic of Lithuania               
to adopt by 1 March 1992 the following resolutions:                             
     3.1, on  the conditions  of land  rent for  firms  in  which               
foreign capital has been invested; and                                          
     3.2. on  the list  of firms  in which  the right  of foreign               
investors to  acquire controlling interest ( excess of 50 percent               
of shares) may be restricted.                                                   
     4. The resolution shall enter into force from the day of its               
adoption.                                                                       
                                                                                
                                                                                
BRONISLOVAS KUZMICKAS                                                           
Vice President                                                                  
Supreme Council                                                                 
Republic of Lithuania                                                           
                                                                                
                                                                                
Vilnius                                                                         
11 February 1992                                                                
No I-2303