UKIO BANKAS

MATERIAL EVENT



RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF UKIO BANKAS AB SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



The Annual General Meeting of Ukio Bankas AB shareholders has resolved to:

1. Approve the Annual Report 2003 of the Board of Ukio Bankas AB.

2. Take into consideration Ukio Bankas AB inspector’s report and the auditor’s

Deloitte&Touche UAB opinion when approving the bank’s annual accounts for 2003.

3.  Approve Ukio Bankas AB balance sheet for 2003.

3.1. Approve Ukio Bankas AB profit (loss) account for 2003.

4. Approve profit appropriation of Ukio Bankas AB for 2003.

5. Increase the authorised capital of Ukio Bankas AB from supplementary

contributions to LTL 121,800,000 by issuing 1,257,667 ordinary registered

shares of LTL 12 nominal value each.

5.1. Determine LTL 12 as the minimum price per share of the new issue.

5.2. Offer shares of the new issue publicly starting from the date of

announcement about the offering in the daily Lietuvos rytas to 1 August 2004.

5.3. After the share issue of LTL 15,092,004 has been fully subscribed for,

amend the respective items in the Statute of the Bank.

5.4. Authorise Vytautas Falkauskas to sign the amended text of the Statute of

the Bank.

5.5. Authorise the Board of Ukio Bankas AB to register, in the manner

prescribed by law, the issue of 1,257,667 (one million two hundred fifty seven

thousand six hundred sixty seven) shares of LTL 12 nominal value per share and

respective amendments to the Statute of the Bank.

6. Approve the estimate of income and expenditures of Ūkio Bankas AB for the

year 2004.

7. Amend item 3 of Chapter I of the Statute of the Bank and read it as

follows: “The Bank’s registered office is situated at 25 Maironio St., Kaunas,

LT-44250, Republic of Lithuania” and enter it into the current wording of the

Statute of the Bank.

7.1. Authorise Vytautas Falkauskas to sign the amended text of the Statute of

the Bank.

8. Move the issue on the agenda of the General Meeting concerning election of

the firm of auditors and determination of the conditions of remuneration for

audit services for discussion at the shareholders’ meeting to be convened after

 1 May 2004.

9.Transfer, lease or pledge the long-term assets of Ukio Bankas AB and the

securities or rights in other issuers owned today or to be acquired after this

resolution and movable and immovable property to be acquired later as well as

secure or guarantee the fulfilment of other entities’ obligations with these

assets.

9.1. Authorise the Board of the Bank, under this resolution of the General

Meeting, to adopt decisions in each particular case concerning transfer, lease

or securing and guaranteeing the fulfilment of other entities’ obligations with

these assets.

10. Remove Olegs Jefimenko from members of the Board of the Bank.

11. Elect Viktor Soldatenko member of the Board of the Bank.





J.Luneviciene

Public Relations Consultant

(+370-614) 22641