LIETUVOS TELEKOMAS

MATERIAL EVENT



DECISIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



Decisions of the Annual General Meeting of AB Lietuvos Telekomas’ Shareholders,

held on 26 April 2002:

1. To approve the Report on Company’s Activities for the year 2001.

2. To approve the annual financial statements. According to International

Accounting Standards, the consolidated Lietuvos Telekomas’ net profit for the

year 2001 was 181,715 thousand Litas, consolidated revenues 1,058,466 thousand

Litas. According to Lithuanian Accounting Principles, the Company’s net loss in

the year 2001 was 63,235 thousand Litas.

3. To allocated the profit of the year 2001 in the following way: 89,640,404

Litas for dividends (0.11 Litas dividend per share) and 486,000 Litas for

annuities for members of the Board.

4. To elect UAB PricewaterhouseCoopers as the Company’s auditor for the audit

of the Company’s financial statements and inspection of the Report on Company’s

Activities.

5. To recall all members of the Board from the Board of the Company.

6. To elect Mr. Morgan Ekberg, Mr Matti Hyyrynen, Mr Ingmar Jonsson, Mr Jaakko

Nevanlinna, Mr Mikko Pirinen, Mr Kennet Radne, Mr Andrius Sukys, Mr Timo

Virtanen and Mr Gintautas Zintelis to the Board of the Company for the new term

of the Board (for 2 years).





Egle Gudelyte-Harvey

Director of Legal Division

+370 2 36 72 92