TEO LT, AB - Notification on material event

TEO and "15 min" have signed an agreement on the transfer of the news portal Zebra.lt

TEO LT, AB, the largest provider of integrated telecommunication, IT and
television services in Lithuania, and UAB "15 min", owned by the media group
Schibsted ASA, have signed an agreement on the transfer of the entertainment
news portal Zebra.lt. 

According to the agreement signed, "15 min" will take over the news portal and
its management from TEO and will use the brand name and the Internet domain
Zebra.lt. 

The Internet services brand name ZEBRA will further be used by TEO. The
telecommunications company will also continue the provision of email services
with email addresses ending with @zebra.lt. 

According to Arūnas Šikšta, General Manager of TEO, after transferring the news
portal, TEO will focus all its attention on its core business - the development
of telecommunications services and their quality. "We are glad to welcome the news portal Zebra.lt in our team. I believe that by
working together we will create more value for our readers and advertisers.
Having merged the Internet portals 15min.lt, Plius.lt and Zebra.lt, operated by
Schibsted Media Group (SMG) in Lithuania, we will reach more than 1.1 million
unique Internet users. This is an important strategic move for SMG to become
the largest online media group in Lithuania", - Tomas Balžekas, Manager of SMG
in Lithuania, said. 

The portal Zebra.lt (until 2006, it was called Takas.lt) is one of the firstportals in Lithuania that was launched in 1998. Currently, Zebra.lt is the most
popular entertainment news portal, with particular emphasis on celebrity life
and entertainment news. The portal is read on average by 450 thousand unique
visitors per month. 




         Egle Gudelyte-Harvey,
         Director of Corporate Administration and Legal Affairs Unit,
         el. +370 5 236 7292