Siauliu Bankas AB - Notification on material event

Convocation of the Ordinary General Meeting of Shareholders

On 29 March 2010 the Ordinary General Meeting of Shareholders of Šiaulių bankas 
AB (the address of the head office Tilžės str. 149, Šiauliai, the company code  
112025254,) is convened.                                                        

The place of the meeting - the assembly hall of J. Janonio gymnasium, at the    
address: Tilžės str. 137, Šiauliai.                                             

The Meeting starts - at 3 p.m. (registration starts at 2 p.m.)                  

The Meeting's accounting day - 22 March 2010 (The persons who are shareholders  
of the bank at the end of accounting day of the General Meeting of Shareholders 
or authorized persons by them, or the persons with whom an agreement on the     
disposal of the voting right with third parties shall have the right to attend  
and vote at the General Meeting of Shareholders).                               

The rights accounting day - 13 April 2010 (the shareholders will use property   
rights arising from the resolutions accepted during the General Meeting of      
Shareholders on a ratio basis of number of shares at the end of  the rights     
accounting day).                                                                

The Bank‘s Board initiates an convenes the meeting.                             

Agenda of the meeting:                                                          
1. Regarding the bank‘s annual report. 
2. Regarding the conclusions of auditor. 
3. Regarding the responses and proposals of the Bank's Supervisory Council. 
4. Regarding the approval of financial statements of the bank for 2009. 
5. Regarding the appropriation of profit/loss of the bank. 
6. Regarding the election of Audit Company carrying out the annual financial
reports of the bank and setting the conditions for audit services remuneration. 
7. Regarding the election of the member of the Bank's Supervisory Council. 

The Bank shall not provide the possibility to participate and vote in the       
Meeting through electronic communication channels.                              

Draft resolutions on each agenda issue, documents be submitted to the General   
Meeting of Shareholders and other information related to exercising of the      
shareholders' rights will be available on the website of the bank www.sb.lt on  
menu item „Investors“ no later than 21 days before the Meeting. This information
will be also available for the shareholders at the head office of the Bank      
(Tilžės street 149, Šiauliai) in the rooms No 201 and 202, from 7.30 am. till   
4.30 pm. (tel. +37041 595 653 and 595 669).                                     

Shareholders that grant at least 1/20 of all votes shall have the right of      
proposing to supplement the agenda of the Meeting by providing the Meeting draft
resolution on each additionally proposed issue or in case no resolution is      
required - the explanation. The proposals to supplement the agenda shall be     
submitted in writing  or  by e-mail.                                            
The proposals shall be presented in writing to the Secretoriat on business days 
or by sending it by registered mail at the address: Šiaulių bankas AB, Tilžės   
street 149, Šiauliai.                                                           
The propolals submitted via the e-mail shall be sent on vp.apskaita@sb.lt.      
The proposals to supplement the agenda with the additional issues shall be      
submitted till the 15 March 2010, 4 pm. In case the the agenda of the Meeting is
supplemented the Bank will report on it  no later than 10 days before the       
Meeting in the same ways as on convening of the Meeting.                        

Shareholders holding shares that grant at least 1/20 of all votes shall have the
right of proposing new draft resolutions on the issues already included or to be
included in the agenda of the Meeting, extra candidates to members of the       
company's managerial body and Audit Company. The proposals shall be submitted in
writing  or  by e-mail.                                                         
The proposals shall be presented in writing to the  Secretoriat on business days
or by sending it by registered mail at the address Šiaulių bankas AB, Tilžės    
street 149, Šiauliai till 29 March 2010, 12:00. The proposals submitted in      
writing will be discussed during the meeting in case they are in the bank till  
the meeting date (29th March, 2010) 12:00. During the meeting the proposals     
shall be submitted to the Chairman of the Meeting after the Meeting agenda is   
announced no later than the meeting starts working on the issues of agenda.     
The propolals submitted via the ecectronic mail shall be sent on                
vp.apskaita@sb.lt. The proposals submitted in writing on this address till the  
29th March, 2010, 12:00 will be discussed during the meeting.                   

The shareholders shall have the right to present questions related to the       
general shareholders' meeting agenda issues to the Bank in advance in writing.  
The shareholders shall present the questions not later 3 working days before the
Meeting via the ecectronic mail on vp.apskaita@sb.lt. The Bank undertakes to    
respond to the submitted questions via the electronic mail till the meeting.    

During the registration to attend the Meeting the shareholders or the authorized
persons shall submit a document which is a proof of his/her identity. The       
shareholders' authorized persons shall submit the power of attorney confirmed by
the established order. The power of attorney issued by the natural person shall 
be notarized. A power of attorney issued in a foreign state must be translated  
into Lithuanian and legalised in the manner prescribed by law.                  
The shareholder holding shares in the bank, where the shares have been acquired 
in his own name, but for the benefit of other persons, must disclose before     
voting at the General Meeting of Shareholders to the bank the identity of the   
final customer, the number of shares that are put to the vote and the content of
the voting instructions submitted to him or any other explanation regarding the 
participation agreed upon with the customer and voting at the General Meeting of
Shareholders.                                                                   

Shareholder shall also have the right to authorise another person (natural or   
legal) to participate and vote in the Meeting on his/her behalf through         
electronic communication channels. Such authorisation shall not be confirmmed by
the notary officer. The power of attorney issued through electronic             
communication channels must be confirmed by the shareholder by a safe electronic
signature developed by safe signature equipment and approved by a qualified     
certificate effective in the Republic of Lithuania. The shareholder shall inform
the Bank on the power of attorney issued through electronic communication       
channels by e-mail vp.apskaita@sb.lt no later than last business days before the
meeting at 4p.m. The power of attorney and notification shall be issued in      
writing. The power of attorney and notification to the bank shall be signed with
the Electronic Signature but not the letters sent via the e-mail. By submitting 
the notification to the bank the shareholder shall include the Internet address 
from which it would be possible to download the softawre to verify an Electronic
Signature of the shareholder.                                                  

Each shareholder or representative thereof shall have the right to cast his/her 
vote in advance in writing by filling in a general ballot paper. The general    
ballot paper form shall be announced in the Bank's website www.sb.lt on menu    
item „Investors“ no later than 21 days before the Meeting. Upon the             
shareholder‘s request, the Bank no later than 10 days before the Meeting shall  
send a general ballot paper by registered mail free of charge or hand it in     
person against signature. The general ballot paper filled shall be signed by the
shareholder or his/her representative. In case the ballot paper is signed by the
shareholder‘s authorised representative, such person along with the filled      
ballot paper shall submit the document to confirm the voting right corresponding
to the requirements set by the laws. The ballot paper filled and the document   
confirming the voting right (if required) shall be submitted in a written form  
to the Bank's below indicated head office address by registered mail or by      
handing against signature no later than on the last business day before the     
Meeting.                                                                        

The following information and documents during the whole period are available   
on the website of the bank www.sb.lt on menu item „Investors“ starting no later 
than 21 days before the Meeting:                                                
- report on the convening of the Meeting;                                       
- the total number of the bank's shares and the number of shares vith voting    
rights on the convening day of the Meeting;                                     
- draft resolutions on each agenda issue and other documents to be submitted to 
the Meeting;                                                                    
- general ballot paper form;                                                    
- form of the power of attorney;                                                


Director of the Treasury Department
Pranas Gedgaudas 
Tel.: +370 41 595653