LIETUVOS TELEKOMAS

OTHER INFORMATION



NOTICE OF RESULTS



The audited consolidated AB Lietuvos telekomas financial statements for year

2000 will be announced on 28 March 2001 after the Board approves them.



The preparation of AB Lietuvos telekomas group consolidated financial

statements for year 2000 is delayed and is executed together with the auditors,

due to (1) implementation of new accounting system (Oracle Financials) in year

2000 (the last of eight modules was implemented only in December); (2) transfer

of data from old accounting system to new one (total company’s assets amount to

over 2 billion litas); (3) current implementation of AB Lietuvos telekomas’

parent and daughter companies financial consolidation module and (4)

implementation and testing of new Customer Care and Billing System (which will

cover 1.2 million customers). Both the company and the auditors have to check

the data transfer and functioning of the systems, in order to avoid possible

mistakes or inaccuracy due to implementation of new systems. Also the year 2000

was the first fiscal year when the AB Lietuvos telekomas’ books and records

were maintained in accordance with the International Accounting Standards.



Due to above mentioned reasons and seeking to provide investors only with the

accurate and true information, the Board of AB Lietuvos telekomas this year

will discuss and approve only already audited consolidated financial statements

of last year. In fact till 28 March 2001 the company will not have consolidated

annual statements and result for year 2000; thus the preliminary results at the

same time will be the final results.



The company believes that in the future after complete implementation of new

accounting system and assurance that it functions properly, AB Lietuvos

telekomas’ financial reports will be produced in due time and provided to

investors following the Stock Exchange Rules.





Darius Dziaugys

Investor Relations

+370 2 603 699