Siauliu bankas AB	Stock Exchange Release	2005-11-28





PROPOSAL TO ACQUIRE SHARES EXERCISING THE RIGHT OF 

PREEMPTION



On 25th Nov. 2005 Securities Commission approved the share issue prospectus of

Šiaulių Bankas AB. New shares were issues by the resolution of the General

Shareholders Meeting held on 23rd Sept. 2005.

The dissemination of the above shares starts on 5th Dec. 2005. The dissemination

is going to take place at the head office of the Bank (Tilžės st.149, Šiauliai) and at

the all territorial branches of the Bank. The addresses of the dissemination places

are stated in the share prospectus, they could also be provided by the telephones

no. (841) 595669, 595652, 595654, 595608.

New share dissemination is going to consist of two following stages:

Stage I – from 5th Dec.2005 to 19th Dec.2005 (15 days) share dissemination to

persons who exercise the pre-emtive right.

After the first stage three day period from 20th Dec.2005 to 22nd Dec.2005 is

provided for  payment of the shares subscribed at the end of the first stage.

Stage II - from 23rd Dec. 2005 to 6th Jan. 2006 (15 days)  - the dissemination of

the rest of the shares to persons who owned bank shares on 23 Sep. 2005

according to their applications in proportion to the number of shares owned on the

Meeting day. This stage is going to be divided into four sub-stages:

1) from 23rd Dec. to 27th Dec. 2005 – admission of applications;

2) from 28th Dec. to 2nd Jan. 2006 – allocation of shares to the applicants and

signing of Share Subscription Agreements;

3) from 3rd Jan. 2006 to 5th Jan. 2006 – payment of the subscribed shares;

4) 6th Jan. 2006 – subscription and payment of not subscribed or subscribed but

unpaid shares.

The Bank is going to inform about the number of shares left for the second stage

and about the application submission terms, subscription and payment of shares

on Vilnius Stock Exchange site <a href='http://www.omxgroup.com/vilnius.' target='_blank'>http://www.omxgroup.com/vilnius.</a>

The Prospectus is available for review since 30 th Nov. 2005 at the head office of

the Bank and in all the territorial branches of the bank, it also can be found on the

Bank’s site <a href='http://www.sb.lt.' target='_blank'>http://www.sb.lt.</a>



Pranas Gedgaudas 

Head of the Treasure Department

tel. (8-41) 595653.