Siauliu Bankas AB - Notification on material event

Amended Charter with increased authorized capital has been registered

On 22 June 2010 the amended Charter of Šiaulių bankas AB with the increased up  
to LTL 204,857,533 (EUR 59,380,843) authorized capital was registered in the    
Register of Legal Entities. The authorized capital of the bank was increased by 
the resolution of the Extraordinary General Shareholders Meeting held on 18 May 
2010.  The issue of 24,500,000 ordinary registered shares of LTL 1 nominal value
each with LTL 1.04 issue price was issued for the capital increase and was      
disseminated to eight investors, belonging to the group of shareholders, having 
a consent from the Bank of Lithuania to acquire and manage the qualified share  
of the authorized capital and voting rights of the bank, reaching or exceeding  
50 percent. Belonging to this group European Bank for Reconstruction and        
Development (EBRD), the major shareholder of the bank, has signed and paid for  
17 million shares. For this purpose EBRD used LTL 17,680,000 (EUR 5,120,482)    
from the Convertible loan of EUR 30 million, granted to Šiaulių bankas pursuant 
to an agreement as of 14 October 2009.                                          
On 29 June 2010 the records on Šiaulių bankas' general issue account in Central 
Securities Depository of Lithuania will be made, joining the new issue of shares
with the ordinary registered shares issue of LTL 1 nominal value of Šiaulių     
bankas (Securities ISIN code LT0000102253), and the shares will be recorded to  
the personal securities accounts of shareholders, who had signed and paid for   
new shares. This moment will be also deemed as the enrollment of newly issued   
shares into trading in the regulated market. The prospectus, intended for the   
enrollment of newly issued shares into trading in the regulated market, which   
was approved on 10 June 2010 by the Securities Commission, is published by the  
bank on its website:                                                            
http://www.sb.lt/lt/investuotojams/akciju_ir_obligaciju_emisiju_prospektai.     

Director of the Treasury Department 
Pranas Gedgaudas 
tel.:  +370 41 595653.