BANKAS SNORAS

MATERIAL EVENT



REGARDING REGISTRATION OF A NEW ISSUE OF BANKAS SNORAS AB



(Unofficial translation done at the NSEL)



We hereby announce that on 22 may 2003 the Securities Commission of the

Republic of Lithuania registered a new share issue of Bankas Snoras AB.

2 500 000 ORS are being issued into public trading with LTL 10 nominal value

per share and LTL 25 000 000 total nominal value of the issue. The issue price

per share is LTL 10 and the total issue price is LTL  25 000 000.

The newly issued shares will be available for acquisition by shareholders of

the bank as well as other persons. The amount of subscribed shares will not be

restricted, though there will be no possibility to subscribe for more shares

than the amount intended for issuance.

The shares will be distributed at the Finance Brokerage Division of Bankas

Snoras AB located at 7 A. Vivulskio st, 2600, Vilnius, from 26 May 2003 until

24 June 2003 (starting and ending days included). Persons willing to acquire

shares of the new issue will be registered in order of sequence.

Prospectus of the new issue and documents basing it are available at the bank’s

Finance Brokerage Division.





Sergej Lomovskoj

Director of the Finance Brokerage Division

(370 5) 265 26 62