LIETUVOS TELEKOMAS

MATERIAL EVENT



DECISIONS FO THE BOARD



On 22 March 2002, the Board of AB Lietuvos Telekomas decided to convoke the

Annual General Meeting of AB Lietuvos Telekomas’ Shareholders on 26 April 2002.



Company’s Board approved audited financial statements of Lietuvos Telekomas’

Group of the year 2001. According to International Accounting Standards

consolidated Lietuvos Telekomas’ net profit in the year 2001 was 181,715

thousand Litas, consolidated revenues 1,058,466 thousand Litas. According to

Lithuanian Accounting Principles the Company’s net loss in the year 2001 was

63,235 thousand Litas.



The Board of AB Lietuvos Telekomas proposes for the Annual General Meeting to

elect UAB PriceWaterhouseCoopers as a Company’s auditors.



The Board proposes for the Annual General Meeting to allocate the Company’s

profit of the year 2001 in such way, that dividend per share would amount for

0.11 Litas.





Egle Gudelyte-Harvey

Director of Legal Division

+370 2 36 72 92