Ukio Bankas AB - Notification on material event

The sale of subsidiaries of AB Ukio bankas

24 July 2008, Ukio bankas sold the shares and claims of its three subsidiaries
UAB Turto valdymo strategija, UAB Turto valdymo sprendimai and UAB Turto
valdymo sistemos, which via OAO Russkij Karavaj financed and controlled the
investment to real estate in Moscow project for LTL 282.8 million (EUR 81.9
million). Bank's realized profit from the transaction of sale of subsidiaries
is LTL 27 million (EUR 7.8 million). The funds received will be used to
strengthen the liquidity base and expand lending in Lithuania. 


Rolandas Balandis
Head of International Banking Division
Ph.: +370 37 301370