BANKAS SNORAS

MATERIAL EVENT



CONCERNING ANNUAL GENERAL  MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



Acting on the decision of the Board of the bank Snoras AB, an annual general

shareholders’ meeting of the bank Snoras AB located at 7 Vivulskio St.,

Vilnius, is being convened on 30 March 2004.

Venue of the meeting: conference hall of the Crown Plaza hotel at 84

M.K.Čiurlionio St., Vilnius.

Beginning of the meeting: 2 p.m.

The registration date of the meeting: 23 March 2004.



On the agenda:

1. Approval of the report of the Board of the bank Snoras AB for 2003.

2. Discussion and approval of the audit results of the financial accounts for

2003.

3. Appropriation of the Bank’s profit for 2003.

4. Approval of the Bank’s income and expenditure estimate for the year 2004.

5. Removal of the Bank’s Supervisory Board.

6. Election of the Bank’s Supervisory Board.

7. Election of the firm of auditors and determination of payment for audit

services.

8. Election of the Bank’s inspector and determination of remuneration to the

inspector.

9. Other issues.





Vladimir Streckij

Director of Financial Brokerage Division

(+370-5) 2652662