Lietuvos Telekomas AB

Company event



The Board decided to convoke Annual General Meeting on 22 April 2005 and

proposes to pay 0.13 litas dividend per share



On 18 March 2005, the Board of AB Lietuvos Telekomas decided to convoke the

Annual General Meeting of AB Lietuvos Telekomas’ Shareholders on 22 April 2005.

The record day for Shareholders’ Meeting is 15 April 2005.



The Board approved audited financial statements of Lietuvos Telekomas’ Group for

the year 2004 prepared according to International Financial Reporting Standards

and Lithuanian Business Accounting Standards. Consolidated revenue of Lietuvos

Telekomas’ Group for the year 2004 was 721,039 thousand litas (808,200 thousand

litas for the year 2003). Following the amendments to International Financial

Reporting Standards revenue (and/or loss) on disposal of property, plant and

equipment is moved from total revenue (and/or expenses) to separate new gain

(loss) on property, plant and equipment line in profit (loss) statement for the

years 2004 and 2003. It had no effect on net result for reporting periods: net

profit for the year 2004 was 32,190 thousand litas and net loss for the year

2003 was 36,095 thousand litas.



The Board proposes for the Annual General Meeting to allocate from the Company’s

distributable profit 100,986 thousand litas for the dividend payment for the

year 2004. Thus dividend per share would amount for 0.13 litas.



The Board approved a new organisational structure of AB Lietuvos Telekomas. From

1 May 2005 instead of Sales Department will be Private Customers Department and

Business Customers Department. Business Customers Department would also provide

activities currently on behalf of Lietuvos Telekomas provided by UAB Lietuvos

Telekomo Verslo Sprendimai.





Paulius Pakutinskas

Executive Senior Legal Adviser

(+370 5) 236 73 30