SIAULIU BANKAS

MATERIAL EVENT



RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



The Annual General Meeting held on 29 March 2004 resolved to:

1.Approve the bank’s Annual Report 2003.

2.Approve the balance sheet and profit (loss) account as of 31 December 2003.

3.Approve the profit appropriation for 2003, which foresees payment of

dividends in the amount of 1% of the nominal value per share (LTL 0.01 per

share of LTL 1.00 nominal value). Dividends will be paid to the persons who

were shareholders of the bank on the day of the AGM (29 March 2004). Dividends

will be paid from 1 April 2004.

4.Approve the bank’s income and expenditure estimate for 2004.

5.Elect the private company PricewaterhouseCoopers the firm of auditors to

carry out audit of the bank’s annual accounts of 2004 and 2005 financial year

and determine conditions of payment for audit services.

6.Increase the bank’s authorised capital from unappropriated profit of LTL

4,406,060 by issuing 4,406,060 ordinary registered shares of LTL 1 nominal

value which will be distributed free of charge to the shareholders on a pro

rata basis according to the total nominal value of shares held on the day of

the AGM.

7.Approve the new wording of the bank’s Statute, which, compared to the

effective wording of the bank’s Statute, contains the following amendments:

- the changed size of the authorised capital;

- the number of the bank’s Supervisory Board members reduced from 7 to 5;

-provisions of the Statute harmonised with new provisions in the Law on

Companies which became effective as of 1 January 2004.

 8. Elect the following persons to the bank’s Supervisory Board: Sigitas

Baguckas, Vigintas Butkus, Arvydas Saldas, Ricardas Valskis and Kastytis Jonas

Vysniauskas





Pranas Gedgaudas

Head of Financial Brokerage Division

(+370-41) 595653