Siauliu Bankas AB

Company event



Resolutions of the General Meeting



The Extraordinary General Meeting of Siauliu bankas AB, held on 20 July 2004,

resolved:



1) To increase by additional contributions the share capital of the bank by

3.250.000 LTL, issuing 3.250.000 ordinary registered shares of 1 LTL nominal

value.



2) To set the new issue price - 1,70 LTL per share.



3) To delegate to the Board of the bank the setting in the prospectus of the

share issue according to the laws valid the procedure for offering and payment

for the new share issue, by scheduling not shorter than 30-day term, during

which shareholders could subscribe for the newly issued shares in proportion to

the nominal value of  shares they owned on the date of the following General

Meeting, and to offer shares unsubscribed by shareholders to all investors on

request, considering number of shares remained and volumes of requests.



4) In case all shares were subscribed by investors during the subscription term,

to register an amendment to the bank statute, indicating in the statute that the

share capital of 56.000.000 LTL, is split into 56.000.000 ordinary registered

shares of 1 LTL nominal value.



5) In case not all shares were subscribed by investors during the subscription

term, to consider the share capital increased by the total nominal value of

actually subscribed shares and to register an amendment to the bank statute,

indicating in the statute the appropriate value of the share capital and the

number of shares.





Pranas Gedgaudas

Head of the Brokerage Department

(+370 41) 595 653