TEO LT, AB - Notification on material event

A. Šikšta, General Manager of TEO, has decided to leave the Company

Arūnas Šikšta has decided to leave the position of General Manager of TEO LT,
AB as of 22 February 2013 and the Board of the company has accepted his
resignation. A. Šikšta was leading TEO since January 2004. 

Giedrius Vegys, currently Chief Financial Officer, was appointed as acting
General Manager of TEO starting 23 February 2013. He joined TEO in 2004 as a
Head of Risk Management Unit and since April 2009 he is in charge of Finance
Division. 

“TEO proved its success for many years and managed to maintain its leading
positions on the market. TEO currently is a strong company and I believe that
Giedrius Vegys will lead a smooth transition until appointment of new General
Manager. I have a strong confidence that TEO will continue to create a high
value for its customers, employees and shareholders”, - said Malin Frenning,
Chairwoman of the Board of TEO. 

“During the last nine year TEO became one of the largest telecommunication
companies in the Baltic States, providing universal communication, data
transmission, TV and IT services. I am especially proud that together with the
one of the most professional team in Lithuania we managed to ensure not only a
high profitability but also high confidence of the customers. After
implementing those objectives I am ready for new professional activities”, -
said A. Šikšta. 

Antanas Poška, currently Director of Accounting department, will temporarily
act as Chief Financial Officer of TEO. 






         Antanas Bubnelis,
         Director of Corporate Communication Unit,
         tel. +370 5 236 7537