LIETUVOS ZEMES UKIO BANKAS

MATERIAL EVENT



ADOPTED DECISIONS OF A GENERAL SHAREHOLDERS' MEETING



On 24 March, 2000 a general meeting of AB Lietuvos Žemės Ūkio Bankas

shareholders’ took place. It was decided to:

1. approve report of the Board of the Bank on the Bank’s activity in 1999;

2.1. consider report of the international auditor;

2.2. approve report of the Bank’s internal auditor;

3. approve financial statements of 1999 of the Bank reporting the Bank’s assets

of LTL 1,537,398,000; the Bank’s capital of LTL 121,207,000, and the net profit

of LTL 11,846,000 (as of December 31, 1999);

4. approve distribution of the Bank’s profit;

5. approve the Bank’s estimate income and expenses account for 2000;

6.1. pay for audit services not exceeding the expenses limit determined in the

estimate of 2000;

6.2. order the Board of the Bank to sign agreement on behalf of the Bank with

the international auditor regarding auditing of the Bank’s financial statements

of 2000;

7.1. approve amendments to the Articles of Association;

7.2. order the Board of the Bank to register amendments to the Bank’s Articles

of Association with the Bank of Lithuania as prescribed by the laws of the

Republic of Lithuania;

8.1. dismiss the Supervisory Board of the Bank;

8.2. elect Rimvidas Kūgis, Vilma Mačerauskienė, Danutė Beganskienė, Lina

Adauskienė, and Roberto Marzanati members of the Supervisory Board of the Bank;

9. not to dismiss members of the Board of the Bank.





Lina Semėnaitė

Information specialist

(22) 72 18 58