On   12   June   2000,  public  initial  offering  for  the  Lithuanian

telecommunication company "Lietuvos Telekomas" has finished. 25% of the

company's   initial  capital  or  203  728  190  state  owned  ordinary

registered shares were sold to the Lithuanian and foreign investors for

LTL  3.15  per  share.  The  remaining 81.8 million shares (10 % of the

company's shares) will remain with the Government.

On  12 June 2000, joint stock company "Lietuvos Telekomas" was admitted

to  the  Official  Trading  List  of  the  National  Stock  Exchange of

Lithuania  and the list of the Baltic blue-chip securities.On that day,

the  total  marketcapitalisation of the Baltic List advanced by EUR 657

million.

Baltic List

Company Home stock exchange Market cap (mln EUR) Profile

as of 31.05.2000

1. Balta RSE 30.03 non-life insurance

2. Eesti Telekom TSE 1,009.74 telecommunications

3. Eesti Ühispank TSE 121.24 banking

4. Hansapank TSE 646.36 banking

5. Kalnapilis NSEL 26.42 brewery

6. Lavijas Gaze RSE 139.81 energy

7. Latvijas Unibanka RSE 103.60 banking

8. Lietuvos Telekomas NSEL 657.99 telecommunications

9. Norma TSE 33.58 vehicle components

10. Optiva Pank TSE 16.48 banking

11. Pro Kapital TSE 54.50 real estate development

12. Rokiskio suris NSEL 25.88 dairy products

13. Tallinna Kaubamaja TSE 17.83 retail sales

14. Utenos trikotazas NSEL 20.77 knitwear

15. Ventspils nafta RSE 120.77 oil transhipment facility

16. Vilniaus bankas NSEL 128.14 banking

*  calculated  according to the opening price during the trading at the

NSEL on 12.06.2000

Additional  information  on  the Baltic list companies can be retrieved

from    a    joint    web-site    of   the   three   Baltic   Exchanges

<a href='http://www.balticexchanges.com' target='_blank'>http://www.balticexchanges.com</a> 

Additional information:

Eva Palu Diana Sokolova

Head of Investor Relations Dpt Public Relations Manager

Tallinn Stock Exchange National Stock Exchange of Lithuania

Tel: +372 6 408 840 Tel:    +370 2 72 38 71

+370 2 72 13 71 (direct)

Ilze Nagla

Head of Public Relations Dpt

Riga Stock Exchange

Tel:    +371 7212 431

     +371 926 7454 (direct)