Lietuvos Telekomas AB

Company event



AB Lietuvos Telekomas to Participate in the Planned Acquisition of AS Microlink



For the purpose of development of cooperation relations between telecoms of the

Baltic states AB Lietuvos Telekomas is planning to participate in the

international transaction on acquisition of AS MicroLink company.



On 16 May 2005 AB Lietuvos Telekomas signed the Forward Shares Purchase

agreement with Estonian telecommunication company AS Elion Ettevotted and

Latvian telecommunication operator SIA Lattelekom, according to which AB

Lietuvos Telekomas acquired the right of option regarding the purchase of 100

per cent of shares of UAB Microlink Lietuva, UAB Baltijos Kompiuterių Akademija

and UAB Fortek Information Technologies.



After signing of the agreement the telecoms will execute the due diligence of

the purchased company, after which the final decision regarding acquisition of

the shares of MicroLink and their price will be taken. The competition

regulatory authorities of Baltic States will also analyze the transaction and

present their opinion. In case of positive resolution of the Board of Lietuvos

Telekomas the shares purchase process is foreseen to be completed within 3-4

months.





Paulius Pakutinskas

Senior Executive Legal Adviser

(+370 5) 236 73 30