SIAULIU BANKAS

MATERIAL EVENT



A NEW SHARE ISSUE HAS BEEN REGISTERED



(Unofficial translation done at the NSEL)



On 23 October 2003, the Lithuanian Securities Commission registered a new share

issue of LTL 5 million of Siauliu Bankas AB. The share issue will be issued

based on the decision of the General Meeting of Shareholders as of 3 September

2003. The pre-emptive right of shareholders to acquire shares of the new issue

was revoked. The shares will be acquired by two natural and two legal persons,

who were indicated in the resolution regarding revocation of the pre-emptive

rights.

The new shares will be distributed and fully paid from 27 October 2003 until 11

November 2003.





Pranas Gedgaudas

Head of Financial brokerage division

(370 41) 595653