LESTO AB - Interim information

LESTO AB results for three moths of 2011

During the first quarter of 2011 the amount of LESTO AB (hereinafter - LESTO)
network service reached 2.102 million kWh. Electricity sales made up 59,4% of
this amount, to the rest costumers LESTO granted only network service. LESTO
electricity sales in high voltage electricity grids during the first quarter
made up 2 million kWh. 

 The share of electricity sales in total amount of electricity network service
is constantly shrinking due to electricity market liberalization. At the end of
the first quarter of 2011 more than 2,5 thousand of costumers that owned 9,7
thousand of objects had chosen independent suppliers, at the end of 2010 only
1,1 thousand of costumers (5,1 thousand of objects) had chosen independent
suppliers. 

 During the first quarter of 2011 LESTO earned LTL 608,9 million. Income from
network service that made up 63% of total income, income from public supply
service consisted 26%, income from guarantee supply for the costumers that have
not chosen independent supplier amounted to 9% of Company's income. 

During the reporting period LESTO experienced LTL 621,2 million of costs,
electricity purchase costs made up LTL 452,4 million. 

 In 2011 EBITDA of LESTO reached LTL 94,1 million , EBITDA margin made up 15,5%
of income. 

 When regulator set electricity tariffs for 2011 it was forecasted that growth
of electricity network service will contain 1,4%, but during reporting period
growth of electricity network service made up only 0,2% (consumption of
residents went down by 9,2% while consumption of commercial costumers expanded
by 5,3%) , due to this fact LESTO experienced net loss of LTL 9,2 million
during three months of 2011. 

 Over 2011 LESTO invested LTL 29 million. Main part of investment was devoted
for electricity network expansion. Investment in connection of new costumers
made up LTL 15,8 million, while buyout of electricity objects amounted to LTL
0,8 million. During the first quarter of 2011 Company allocated LTL 5,9 million
for maintenance of low voltage electricity grid. Maintenance of medium voltage
electricity grid cost LTL 4,9 million. Total amount of investment exceeded the
plan because of investment in connection of new costumers growth (67 %). 

 Information is not confidential.

ATTACHMENTS:

  -- LESTO AB confirmation of responsible persons and LESTO AB unaudited
     financial statements and Interim report for the three months of 2011


         Renata Gaudinskaitė, tel. (8~5) 251 4502

Attachments:

2011 IQ LESTO ENG.PDF