TEO LT, AB - Notification on material event

Election of all Remuneration Committee members and one Audit Committee member

On 23 July 2008 the Board of TEO LT, AB (hereinafter TEO or “the Company”)
decided: 

- Due to termination of the term of the Remuneration Committee of the Board, to
reelect Mr Jörgen Latte, Mr Anders Gylder and Mr Björn Lyndegren to the
Remuneration Committee of the Board for a new one year term of the committee. 

- To elect Mr Justas Pipinis to the Audit Committee of the Board for the
current two-year term of the committee. Mr. Matti Hyyrynen (chairman) and Mr
Joakim Sundström are member of the current term Audit Committee. 


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