UKIO BANKAS

MATERIAL EVENT



DISTRIBUTION OF UKIO BANKAS SHARE ISSUE



On 13 June 2002, the Lithuanian Securities Commission registered a new Ukio

Bankas share issue of ORS worth LTL 18m. Share issue prospectus and reports of

the bank can be found at the headquarters of the bank. Share issue is being

subscribed in two stages:

1. Shareholders of the bank have preemptive right to acquire newly issued

shares of the bank from 19 June 2002 to 18 July 2002 inclusive.

2. The second stage of the public subscription of shares will continue from 19

July 2002 until 30 November 2002 inclusive. 

Share subscription agreements are concluded at financial brokerage department

at the headquarters of the bank at J.Gruodzio 9, LT-3000 Kaunas during working

days from 8:30 to 15:00 (tel. 370-37 301 430).





V.Kniūkšta

Director of the Financial brokerage department

8-37 301 430