Lietuvos Energija AB - Notification on material event

Extraordinary Meeting of LITGRID Turtas AB Shareholders Convened

At the initiative and by resolution of the Management Board of LITGRID Turtas
AB (company code 302564383, registered address A. Juozapavičiaus g. 13,
Vilnius), an extraordinary general shareholders meeting of LITGRID Turtas AB is
convened on December 17, 2010. The meeting will be held at the following
address: A. Juozapavičiaus g. 13, Vilnius, Conference Hall. Starting time -
10:00 AM, December 17, 2010. Starting time of shareholders registration: 9:30
AM, December 17, 2010. Finishing time of shareholders registration: 9:55 AM,
December 17, 2010. 

The established date for the headcount of the shareholders of the extraordinary
general shareholders meeting is December 10, 2010. Only such persons shall have
a right to participate and vote at the extraordinary general shareholders
meeting, who by the end of the day of headcount of the shareholders of the
extraordinary general shareholders meeting are shareholders of LITGRID Turtas
AB. 

The rights accounting day of the extraordinary general shareholders meeting
shall be December 31, 2010. The property rights of the shareholders, enforced
in Items 1-4 of Part 1 of Article 15 of the Law of the Republic of Lithuania on
Joint-stock Companies, shall be held by such persons who by the end of the
rights accounting day of the meeting are shareholders of the company. 

Agenda of the meeting:
1. Regarding approval of preparation of reorganization conditions of LITGRID
Turtas AB and LITGRID AB. 

The following draft resolution of the agenda is proposed:

„1. To approve that under procedure established by legal acts of the Republic
of Lithuania, the Management Board of LITGRID Turtas AB, in cooperation with
the Management Board of LITGRID AB (public company established under laws of
the Republic of Lithuania, registered address A. Juozapavičiaus g. 13, Vilnius
city, Vilnius city municipality,  the Republic of Lithuania, legal entity code
302449655, VAT code LT100005013315, registered in the Register of Legal
Entities of the Republic of Lithuania), (i) prepares the reorganization
conditions of LITGRID Turtas AB and LITGRID AB, which subsequent to the
reorganization would terminate as a legal entity, would be merged with LITGRID
Turtas AB, which subsequent to reorganization would continue its operation, and
(ii) would prepare the revised articles of association of LITGRID Turtas AB,
which would continue its operation subsequent to the reorganization and (iii)
would perform other actions, related to the reorganization of LITGRID Turtas AB
and LITGRID AB. The reorganization would be performed by merging LITGRID AB
with LITGRID Turtas AB, after which all assets, rights and duties of LITGRID AB
would be transferred to LITGRID Turtas AB (Part 3 of Article 2.97, Civil Code
of the Republic of Lithuania)“. 

Documents, related to the meeting agenda, draft resolutions, general voting
ballot, will be made available for the shareholders from November 25, 2010, at
the premises of LITGRID Turtas AB with the following address: A. Juozapavičiaus
g. 13, Vilnius, room 137, during the office hours (7:30 - 11:30 and 12:15 -
16:30, Fridays - 7:30 - 11:30 and 12:15 - 15:15). These documents and other
information, which is publishable under the legal acts, related to the
shareholders right to propose amendments to the agenda of the meeting, propose
draft resolutions to the agenda of the meeting and by right of shareholders to
propose in advance issues, related to issues of the agenda of the meeting, from
November 25, will also be published at the company website www.litgrid.eu. 

If the shareholder, holding a right of vote or its duly authorized
representative demands so in writing, the company shall prepare and not later
than 10 days prior to the general shareholders meeting shall send a general
voting ballot by registered mail or shall present it in person and confirm the
receipt by signature. The general voting ballot is also available at the
website of the company http://www.litgrid.eu. The filled and signed general
voting ballot and the document, confirming the right of vote may be presented
to the company by registered mail or handed over directly at the premises of
the company with the address A. Juozapavičiaus g. 13, Vilnius, not later than
by the end of the office hours (16:30) of December 16, 2010. 

The company retains the right not to register the advance vote of the
shareholder or its authorized person, if its presented general voting ballot is
not compliant with requirements, set forth in Parts 3 and 4, Article 30 of the
Law on Joint-stock Companies of the Republic of Lithuania, its presentation is
overdue or it is filled in the manner whereby ascertaining of the actual will
of the shareholder is impossible. 

The persons at the general shareholders meeting shall have a right to vote by
power of attorney. The power of attorney is deemed a written document, issued
by one person (issuer of power of attorney) to another person (the recipient of
power of attorney) to represent the issuer of power of attorney while
contacting third persons. The power of attorney on behalf of a physical person
to perform actions, related to legal persons, except for cases prescribed by
law, allowing issuance of the power of attorney in another form, shall be
signed by the notary.  The authorized persons shall have a document, confirming
the identity of the person and the power of attorney, approved as prescribed by
law, which shall be presented not later than by the finishing time of the
shareholders registration of the general shareholders meeting. The authorized
person has the same rights at the general shareholders meeting as would be had
by the shareholder who is being represented. 

The shareholders, holding a right to participate at the general shareholders
meeting, shall have a right to authorize by means of electronic communications
a physical or legal entity to take part or cast vote on their behalf at the
general shareholders meeting.  Such authorization shall not require notary
approval. The company shall deem valid the authorization issued by electronic
means only provided that the shareholder signs it by an electronic signature,
generated by a secure signature-generating software and attested qualified
certificate, valid within the Republic of Lithuania, i.e. the security of the
transmitted information is ensured and a possibility of identification of the
shareholder is provided. The shareholder shall inform in writing the company
about such authorization, issued by electronic means, by sending such
notification by email at info@litgrid.eu not later than end of office hours
(16:30) of December 16, 2010. 

At the general shareholders meeting there will be no participation or voting by
electronic means. 

Jūratė Kavaliauskaitė 
Head of Communications
Tel. +370 619 62019
E-mail:jurate.kavaliauskaite@lpc.lt