LIETUVOS ZEMES UKIO BANKAS

MATERIAL EVENT



ADOPTED DECISIONS OF THE GENERAL SHAREHOLDERS’ MEETING



On 27 March 2001, a general meeting of AB Lietuvos Žemės Ūkio Bankas

(hereinafter – the Bank) shareholders took place. At the meeting it was

decided to:

1. approve the Board’s report on the Bank’s activities in 2000;

2.1. take into account the report of the Bank’s international auditor when

approving the Bank’s financial statements for 2000;

2.2. take into account the report of the Bank’s internal auditor when approving

the Bank’s financial statements for 2000;

3. approve the Bank’s financial statements for 2000 where: the Bank’s assets

equal LTL 1, 666,871thou, capital and reserves make up LTL 128,540thou, net

profit total LTL 7,286thou (as of 31 December 2001);

4.1. decrease revaluation reserve of long-term assets by LTL 546,585.65, which

is comprised of realised and written-off assets, and use this amount for profit

 appropriation;

4.2. approve appropriation of the Bank’s profit;

5. approve the Bank’s estimate for 2001;

6.1. approve terms of the public tender to carry out audit of activities of

AB Lietuvos Žemės Ūkio Bankas and its subsidiaries;

6.2. approve the procedure of the public tender to carry out audit of

activities of AB Lietuvos Žemės Ūkio Bankas and its subsidiaries;

7. allow the Bank’s Board to sell or rent by way of a public tender, also

exchange or transfer in any other way tangible fixed assets which are neither

supposed to be used nor are used for the needs of the bank and the book value

of which is LTL 17,956,354.18 (as of 31 December 2001) and co-ordinate terms

of sales, rent, exchange or transfer of objects the residual value of which

exceeds LTL 500,000 with the Bank’s Supervisory Board;

8. elect Lina Liubauskaitė member of the Bank’s Supervisory Board;

9.1. approve amendments to the Bank’s statute;

9.2. authorise the Bank’s Board to register amendments to the Bank’s statute

with the Bank of Lithuania in the manner prescribed by the laws.





Imandra Daukšienė

Spokesman to the press

23 90 00