UKIO BANKAS

MATERIAL EVENT



DECISIONS OF A GENERAL SHAREHOLDERS’ MEETING



On 26 March 2002, a general meeting of AB Ukio Bankas shareholders took place.

The meeting resolved to:

1. approve the report of the Management Board of AB Ukio Bankas on the bank’s

performance in 2001;

2. take into account report of the Auditors Commission of AB Ukio Bankas and

statement of the auditor UAB Deloitte&Touche when approving the bank’s

financial statements of 2001;

3.1. approve balance sheet of AB Ukio Bankas of 2001;

3.2. approve profit (loss) statement of AB Ukio Bankas of 2001;

4. approve appropriation of profit of AB Ukio Bankas earned in 2001;

5.1. increase the bank’s authorized capital to LTL 90,707,988 by issuing

1,500,000 ordinary registered shares with the par value of LTL 12;

5.2 establish the issue price of the newly issued shares at LTL 12;

5.3. public placement of the newly issued shares will be carried out until 1

December 2002 after the announcement in the daily Lietuvos Rytas;

5.4. having placed all share issue of LTL 18 million, amend the statute of the

Bank correspondingly;

5.5. establish that if not all issue is placed until 1 December 2002, the

increase of the authorized capital equal to the nominal value of actually

placed shares shall be recorded and corresponding changes shall be made to the

statute of the Bank;

5.6. authorize the Management Board to register the issue of 1,500,000 ordinary

registered shares of the par value LTL 12 and corresponding amendments to the

Bank’s statute in the manner established by law;

6. approve the estimate of income/expenditures of AB Ukio Bankas for the year

2002;

7. approve new wording of the statute of AB Ukio Bankas;

8. revoke members of the Audit Commission of AB Ukio Bankas before the end of

term of service;

9. elect Alvydas Razvickas internal auditor of AB Ukio Bankas;

10.1. approve work regulations of the internal auditor of AB Ukio Bankas;

10.2. establish monthly salary to the internal auditor of AB Ukio Bankas;

11.1. elect audit company UAB Deloitte&Touche the auditor of AB Ukio Bankas;

11.2. establish remuneration terms for the auditor of AB Ukio Bankas;

12. elect L.Varanavicius, G.Jakaviciene, O.Jefimenko, O.Goncaruk,

A.Kurauskiene, L.R.Butkus, and U.Lowenhav members of the Council of AB Ukio

Bankas;

13.1. transfer, rent or mortgage long-term assets of AB Ukio Bankas, currently

owned securities and securities of other issuers acquired after this resolution

as well as secure them as a guarantee or indemnity against liabilities of other

entities.

13.2. authorize the Management Board of AB Ukio Bankas to pass decisions

regarding transfer, rent of the Bank’s assets as well as securing it as a

guarantee or indemnity in each case individually.





V.Kniūkšta

FBD Director

(8-27) 301 430