LIETUVOS TELEKOMAS

MATERIAL EVENT



DECISIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



Decisions of the Annual General Meeting of AB Lietuvos Telekomas’ Shareholders,

held on 28 April 2003:



1. To approve the Report on the Activities of the Company for the year 2002.



2. To approve audited Company’s annual financial statement for the year 2002,

prepared according to the Accounting Rules of the Republic of Lithuania (LAP)

and according to International Accounting Standards. According to IAS, the

consolidated revenue of Lietuvos Telekomas’ Group in the year 2002 was

968,212 thousand litas and consolidated net profit amounted to 67,032 thousand

litas. According to LAP, the revenue of the parent company, AB Lietuvos

Telekomas, was 927,468 thousand litas and net profit amounted to

67,032 thousand litas.



3. To allocated the profit of the year 2002 in the following way:

46,609,051 litas for dividends (0.06 litas dividend per share) and

486,000 litas for tantiems for members of the Board.



4. To elect UAB PricewaterhouseCoopers as the Company’s auditor to make the

audit of the Company’s financial statements and to make inspection of the

reports on the activities of the Company.



5. To cancel the status of Company‘s Special Share and to convert this Share

into 1 (one) Company’s Ordinary Registered Share because of expiration of the

term of the Company‘s Special Share on 1 January 2003.



6. To change the By-laws of the Company.



7. To elect Ms Annika Christiansson, Mr Erik Hallberg and Mr Mats Salomonsson

to the Board of the Company for current term of the Board.





Egle Gudelyte-Harvey

Director of Legal Division

+370 5 236 72 92