LIETUVOS ZEMES UKIO BANKAS

MATERIAL EVENT



CONVOCATION OF A GENERAL SHAREHOLDERS’ MEETING



1. On 18 February 2002, the State Property Fund and Norddeutsche Landesbank-

Girozentrale signed an agreement on the sale of shares of AB Lietuvos Zemes

Ukio Bankas. 822,872 state-owned ordinary registered shares of AB Lietuvos

Zemes Ukio Bankas will be sold to Norddeutsche Landesbank-Girozentrale for LTL

71,000,000.

2. At 9.00 a.m. on 25 March 2002, a general meeting of AB Lietuvos Zemes Ukio

Bankas shareholders will be held at the conference hall on 6th floor of the

Bank’s headquarters at 26 J. Basanaviciaus St. in Vilnius. On the agenda:

1. approval of the report of the Management Board on the Bank’s performance in

2001;

2. auditor’s and internal auditor’s reports;

3. approval of financial statements for 2001;

4. approval of appropriation of profit earned in 2001;

5. approval of the Bank’s income and expenditure estimate for 2002;

6. transfer, rent, mortgage of the long term assets of AB Lietuvos Zemes Ukio

Bankas as well as securing it as a guarantee or indemnity;

7. amendment to and supplement of the statute of AB Lietuvos Zemes Ukio Bankas;

8. election of the internal auditor and establishment of the remuneration;

9. revocation of the Council of AB Lietuvos Zemes Ukio Bankas;

10. revocation of the Management Board of AB Lietuvos Zemes Ukio Bankas due to

the revocation of the Bank’s Council;

11. election of the Council of AB Lietuvos Zemes Ukio Bankas.

Registration of shareholders’ will be from 8.00 a.m. until 9.00 a.m.





Imandra Daukšienė

Spokesman to the press

239 000