TEO LT, AB - Notification on material event

Registration of reduced authorised share capital

On 3 September 2010, the Register of Legal Persons registered a new wording of
the By-laws of TEO LT, AB (hereinafter TEO or “the Company”) and reduced to
776,817,518 litas the authorised share capital of the Company, which consist of
776,817,518 ordinary registered shares of 1 litas par value each. 

On 26 April 2010 the Annual General Meeting of shareholders decided to cancel
38,095,242 ordinary shares of 1 litas par value each held by the Company by the
ownership right (treasury stocks) and to reduce by the amount of cancelled
shares (38,095,242 litas) the authorised shares capital of the Company from
814,912,760 litas to 776,817,518 litas, and accordingly to amend the By-laws of
the Company to specify the reduced amount of the authorised share capital -
776,817,518 litas. 

The purpose of reduction of the Company's authorised share capital -
cancellation of the Company's treasury stocks. The Company's authorised share
capital shall be reduced by way of annulment of the Company's treasury stocks. 

The Company submitted an application to the Lithuanian Central Depository of
Securities to amend TEO LT, AB securities' (ISIN code LT0000123911) issue
registration account by cancelling 38,095,242 ordinary registered shares -
treasury stocks. 

TEO treasury stocks that amount to 4.67 per cent of the total number of the
Company shares were acquired during the Initial Public Offering (IPO) in year
2000 and they have no rights to exercise any property and non-property rights
provided by the Law of the Republic of Lithuania on Companies. 


ENCL.: The By-laws of TEO LT, AB registered on 3 September 2010.


Darius Džiaugys, 
Head of Information Sector, 
tel. +370 5 236 7878

Attachments:

by_laws_2010_09_03.pdf