SIAULIU BANKAS

MATERIAL EVENT



THE BOARD’S PROPOSAL CONCERNING DIVIDENDS FOR THE YEAR 2003



(Unofficial Translation Done at the NSEL)



The Board of Šiaulių Bankas AB has resolved to submit a plan of 2003 profit

appropriation, which foresees to allocate LTL  483,439.40 as dividend

(LTL 0.01 per share of LTL 1 nominal value) for the approval of the Annual

General Meeting of shareholders.





Pranas Gedgaudas

Head of FBD

(+370-41) 595653