LIETUVOS TELEKOMAS

MATERIAL EVENT



BOARD APPROVED REORGANISATION OF UAB LINTEL AND UAB LINTKOM



Following the Board decision of 2 October 2003, AB Lietuvos Telekomas

transferred all shares of UAB Lintkom to UAB Lintel.



On 18 December 2003, the Board of AB Lietuvos Telekomas approved reorganisation

of UAB Lintel, a subsidiary of AB Lietuvos Telekomas, and UAB Lintkom,

an indirect subsidiary of AB Lietuvos Telekomas, by merger of UAB Lintkom into

UAB Lintel.





Egle Gudelyte-Harvey

Director of Legal Division

+370 5 236 72 92