Ukio Bankas AB

Company event



The Board's proposal to the shareholders regarding an increase of the

authorized capital by additional contributions



The Board of Ukio Bankas AB decided to submit a proposal to the shareholders at

the annual GMS to be held on March 24, 2005:

1. to increase the authorized capital up to LTL 126708000 by a share issue of 1

666 667 ordinary registered shares of LTL12 by nominal value;

2. to determine the minimum price of one share of the new issue to be LTL 12;

3. to set a 30-day time period for the shareholders of the bank from the day of

publication in the daily newspaper "Lietuvos rytas"  in order to exercise the

right of pre-emption for the subscription of the shares of the new issue;

4. to offer publicly the shares of the new issue starting from the day of

publication in the national media till October 1, 2005.





J. Luneviciene

Public Relations Consultant

(+370 37) 614 22641