LITGRID AB - Notification on material event

Preferred method for separation of LITGRID AB to be presented by March 30, 2012

Vilnius, Lithuania, 2012-03-15 15:22 CET (GLOBE NEWSWIRE) -- On 15 March 2012
the National Control Commission for Prices and Energy (hereinafter referred to
as the "Commission") concluded that LITGRID AB fails to comply with the
obligation to separate electricity transmission operation from other activities
of vertically-integrated groups of companies by 3rd March 2012, as set forth in
the Law on Energy transposing provisions of the EU Third Energy Package to the
national legislation of the Republic of Lithuania. LITGRID AB performs the
functions of an electricity transmission system operator and is a part of a
vertically-integrated group of companies Visagino atominė elektrinė UAB. The
Commission has obligated LITGRID AB to present to the Commission by 30 March
2012 a detailed description of the preferred method for separating operations
and control from activities of the vertically-integrated undertaking that are
not related to transmission, alongside with a detailed action plan. LITGRID
AB's preferred plan of activities and separation implementation must
transparently disclose the order of precedence and time-schedule of specific
actions for ensuring implementation of activities separation requirements. 


         Vilija Railaitė
         Head of Communications
         Phone +370 5278 2361
         Mobile +370 613 19977
         E-mail vilija.railaite@litgrid.eu