LIETUVOS ZEMES UKIO BANKAS

MATERIAL EVENT



DECISIONS ADOPTED AT THE GENERAL SHAREHOLDERS’ MEETING



At 2 p.m. on 28 September 2001, an extraordinary shareholders’ meeting took

place at 26 Basanaviciaus St.,in Vilnius,  at the headquarters of Lietuvos

Zemes Ukio Bankas AB. The meeting resolved:

1) elect the audit company PricewaterhouseCoopers UAB the auditor of Lietuvos

Zemes Ukio Bankas AB and its branches for carrying out audit of activities in

2001 and 2002;

2) establish remuneration terms for audit of activities of Lietuvos Zemes Ukio

Bankas AB and its branches in 2001 and 2002;

3) allow the Management Board of Lietuvos Zemes Ukio Bankas AB to sell or rent

(by way of open tender) as well as exchange or transfer in other way property

transferred into the bank’s ownership (acquisition value as of 31 July 2001

equals LTL 5,030,994.26), and coordinate terms of sale, rent, exchange or

transfer of objects,the acquisition value of which is over LTL 500,000) with

the Supervisory Board.





Imandra Daukšienė

Spokesman to the press

23 90 00