UKIO BANKAS

MATERIAL EVENT



AMENDMENTS TO THE TERMS OF PAYMENT FOR THE NEW SHARE ISSUE OF UKIO BANKAS AB



At the meeting of the Securities Commission of the Republic of Lithuania, held

on 22 July 2002, it was decided to satisfy the request of Ukio Bankas AB to

amend the procedure of payment for ordinary registered shares of Ukio Bankas AB

(1,500,000 unit, LTL 12 par value per share, the total nominal value is LTL

18,000,000, the issue price is LTL 12 per share) which were registered by the

resolution of the meeting of the Lithuanian Securities Commission (Min. No. 14,

paragraph No. 13.1). Shares may be paid for by capitalizing the subordinated

loan granted by the investor to the bank.





J.Lunevičienė

Public relations consultant

8-37 301 308