2011-04-28 08:00:00 CEST

2011-04-28 08:00:14 CEST


REGULATED INFORMATION

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TEO LT, AB - Notification on material event

Nominee to the Board of TEO LT, AB 


TEO LT, AB (hereinafter ‘the Company' or ‘TEO') from the shareholders of the
Company - East Capital Asset Management AB acting on behalf of East Capital
Baltic Fund and East Capital Eastern European Fund; East Capital Explorer
Investment AB; East Capital (Lux) Convergence Eastern European Fund; East
Capital (Lux) Eastern European Fund and Coneglen Limited, that jointly hold
55,761,216 ordinary registered shares of TEO LT, AB, which constitute 7.18 % of
all the shares issued by the Company and voting rights carried by them,
(hereinafter jointly referred to as ‘the Shareholders') received a nomination
of Mr. Jonas Pilkauskas for election to the Board of the Company. 

Jonas Pilkauskas (born in 1974). Employment: A partner in law firm TARK GRUNTE
SUTKIENĖ. Education: Vilnius University, Faculty of Law (Diploma, 1997). From
1995 to 1996 studied at the University of Swansea, Wales (United Kingdom) and
at John Marshall Law School in Chicago (U.S.A.). Current Board assignments:
Tiltra Group AB, Chairman of the Supervisory Council till 14 May 2010. Has no
direct interest in the share capital of TEO LT, AB. 

Following provisions of The Governance Code for the Companies Listed on the
NASDAQ OMX Vilnius stock exchange Mr. Jonas Pilkauskas upon election would be
regarded as non-executive and independent member of the Board. 

The documents possessed by the Company related to the agenda of the Meeting,
including draft resolutions, are available at the headquarters of TEO LT, AB,
Lvovo str. 25, Vilnius, Lithuania, or at the Company's internet website
www.teo.lt. 



ENCL.:

- Nomination of candidate to the Board of TEO LT, AB.

- Curriculum Vitae of Mr. Jonas Pilkauskas.

- Declaration of a candidate to the Board members of TEO LT, AB.


         Eglė Gudelytė-Harvey,
         Director of Corporate Administration and Legal Affairs Unit,
         tel. +370 5 236 72 92