Siauliu Bankas AB

Company event



Decisions of the general meeting of shareholders



The annual general meeting of shareholders of Siauliu Bankas AB held on March

30, 2005, resolved:



1)To approve the Report of the board on the activities of the bank in 2004;

2) To approve the Financial Statements of the bank for the year 2004;

3) To approve profit appropriation, projecting  to allot of LTL 560 thousand for

dividend payment (LTL 0.01 dividend per share worth LTL1 by nominal value, which

accounts for 1% of the share nominal value; dividend payment will start from

April 11, 2005);

4) To increase the authorized capital of the bank:

by LTL 6 720 000 (from LTL 2 275 000 of share premium and LTL 4 445 000 of

unappropriated profit), issuing 6 720 000 ordinary registered shares of LTL 1 by

nominal value and distributing bonus shares to the shareholders in proportion to

the nominal value of shares owned by them on the day of this GMS;

by LTL 12 000 000 through additional contributions, issuing 12 000 000 ordinary

registered shares of LTL 1 by nominal value and selling them at a price of  LTL

1.70 per share of the issue price;

5) To revoke the shareholders' pre-emptive right to subscribe for shares of the

new issue meant for the increase of the authorized capital through additional

contributions;

to sell the newly issued shares to the European Bank for Reconstruction and

Development;

6) To approve the Bank Statutes and authorize Chairman of the Bank Board

Algirdas Butkus to sign them.





Pranas Gedgaudas

Head of the Brokerage Department

(+370 41) 595653