BANKAS SNORAS

MATERIAL EVENT



CONCERNING SUBSCRIPTION FOR SHARES



(Unofficial Translation Done at the NSEL)



We hereby announce that on 26 April 2004 the new issue of ordinary registered

shares of the bank Snoras AB, registered with the Lithuanian Securities

Commission on 22 April 2004, was fully subscribed for. The total of 2,500,000

(two million five hundred thousand) ordinary registered shares, or  100% of the

share issue, were subscribed for the total amount of LTL 25,000,000 (twenty

five million). The share subscription is considered completed.





Vladimir Streckij

Director of the Financial Brokerage Division

(+370 5) 2652662