AB Bankas NORD/LB Lietuva    Stock Exchange Release   21.06.2005



Majority shareholder to establish joint venture





AB Bankas NORD/LB Lietuva majority shareholder NORD/LB has informed NORD/LB

Lietuva bank that it has signed an agreement with Norway's largest financial

services group DnB NOR to establish a new bank for north-eastern Europe. The

joint venture will bring together the activities of the two parent banks in

the Baltic region under the name DnB NORD. The new bank is to start operations

in January 2006. The head office of the joint venture will be  in  Copenhagen.

NORD/LB  will transfer  its  facilities  and  customers  in  Poland,  Latvia,

Lithuania, Estonia, Finland and Denmark to the new joint venture. DnB NOR will

make its product and process know-how available.DnB NOR's activities in

Finland and Denmark will also be added. DnB NOR will hold 51 percent of the

DnB NORD shares, NORD/LB - 49 percent. The agreement that has been concluded

provides for all major strategic and human resources matters to be

settled by mutual agreement. NORD/LB representative, currently  the  head  of

NORD/LB 's North-east Europe business,is designated to become the Chief Executive

fficer of DnB NORD. Both partners will be represented in the DnB NORD 

board of directors on equal terms. The Chief Executive Officer of DnB NOR

will be chairman of the DnB NORD board.



Andrius Vilkancas

Press Officer 

tel. +370 5 239 3413