LIETUVOS ZEMES UKIO BANKAS

MATERIAL EVENT



DECISIONS OF THE GENERAL MEETING OF SHAREHOLDERS



On 1 July 2002 at 14:00 in Vilnius (Basanaviciaus St. 26) an extraordinary

meeting of shareholders of AB Lietuvos Zemes Ukio Bankas (LZUB) took place. The

following decisions were made:

1. To issue a share issue of AB LZUB in order to increase the bank’s share

capital to LTL 176 585 430.

To resolve that the share issue will be:

- Registered shares – share type according to the way of disposal

- Ordinary shares – share type according to the granted rights

- Par value of one share – LTL 95

- Number of shares - 776 277

- Minimal price of the share issue – LTL 73 746 315.

2. The share issue shall be distributed only among the persons, who were

shareholders of the bank on 1 July 2002. The issued shares will be paid up with

the additional pecuniary contributions. The start of the distribution of shares

will be the day after the announcement of the registration of the share issue

at the Lithuanian Securities Commission. The distribution of the distribution

of shares – 40 days. Other conditions of the share issue of the Bank are stated

in the share issue prospectus.

3. To increase the Bank’s share capital by the total nominal value of the

distributed share issue.





Imandra Daukšienė

Spokeswomen

(370 2) 393 413