Utenos Trikotazas AB - Notification on material event

Notice of the Annual General Meeting of Shareholders on 28 April 2011

By the initiative and decision of the Company Board Nr.3, 28.03.2011, an
ordinary general meeting of AB „Utenos trikotažas“, registered at
J.Basanavičiaus g. 122, LT-28214 Utena, company number 183709468, shareholders
is being convoked at J.Basanavičiaus g. 122, Utena, on 28th of April 2011 at
11:00 am. Shareholders' registration starts at 10:00 am. 

The meeting accounting day is 20th of April 2011.

The accounting day of shareholders rights is 12th of May 2011.

     Proposed Agenda:

1.           Report of the Company's auditor.

2.           Approval of the Company and consolidated Group annual financial
statements for the year 2010. 

3.           Presentation of the Company annual report for the year 2010.

4.           Allocation of the profit (loss) of the Company of 2010.

5.           Election of the Company's auditor.

Shareholders who at the end of the General Meeting of Shareholders' accounting
day, i.e. 20th of April 2011, will be shareholders of the Company have a right
to participate and vote at the General Meeting of Shareholders personally or by
proxy, or to be represented by the person with whom an agreement on the
transfer of voting rights is concluded. 

A person attending the General Meeting of Shareholders and having a voting
right must bring with him/her a person's identification document. A person who
is not a shareholder must additionally produce a document confirming his/her
right to vote at the Annual General Meeting of Shareholders. 

Each shareholder shall have a right, in the manner established by the Law, to
authorise another (natural or legal) person on his/her behalf to attend and
vote at the General Meeting of Shareholders. At the General Meeting of
Shareholders, an authorised person shall have the same rights as would be held
by the shareholder or shareholders represented by him/her, unless the
authorized person's rights are limited by the power of attorney or by the Law.
The authorised person must provide a power of attorney certified in the manner
established by the Law. A power of attorney issued in a foreign state must be
translated into Lithuanian and legalised in the manner established by the Law.
The Company does not establish special form of power of attorney. 

A shareholder or a person authorised by him/her shall have a right to vote in
writing in advance by filling in the General Voting Ballot. Upon a
shareholder's request, the Company, not later than 10 days before the General
Meeting, shall send the General Voting Ballot by registered mail free of
charge. The sample of General Voting Ballot is also provided on the Company's
website at http://www.ut.lt. The General Voting Ballot, duly filled in and
signed by the shareholder or a person, having a voting right, and the document
confirming the voting right (if any) must be submitted to the Company in
writing not later than on the last business day before the General Meeting of
Shareholders by sending them by registered mail to AB „Utenos trikotažas“,
registered at J.Basanavičiaus g. 122, LT-28214 Utena, Lithuania. 

The Company is not providing the possibility to attend and vote at the General
Meeting of Shareholders through electronic means of communication. 

Each shareholder holding shares that grant at least 1/20 of all votes shall
have the right of proposing to supplement the agenda of the General Meeting of
Shareholders. Draft decisions on the proposed issues shall be submitted
together with the proposal or, if the decisions do not need to be approved,
explanations on each proposed issue of the General Meeting of Shareholders
shall be presented. Proposal to supplement the agenda must be presented in
writing by sending it by registered mail to AB „Utenos trikotažas“, registered
at J.Basanavičiaus g. 122, LT-28214 Utena, Lithuania, or by e-mail
utenos.trikotazas@ut.lt. The agenda will be supplemented if the proposal is
received not later than 14 days before the General Meeting of Shareholders. 

Each shareholder holding shares that grant at least 1/20 of all votes shall
have the right of proposing draft resolutions on the issues already included or
to be included in the agenda of the General Meeting of Shareholders. The
proposed draft decisions at any time before the General Meeting of Shareholders
must be presented in writing by sending them by registered mail to AB „Utenos
trikotažas“, registered at J.Basanavičiaus g. 122, LT-28214 Utena, Lithuania,
or by e-mail utenos.trikotazas@ut.lt. The shareholders shall also be entitled
to propose draft resolutions on the agenda issues of the General Meeting of
Shareholders in writing during the Meeting. 

The shareholders shall have the right to present questions related to the
agenda issues of the General Meeting of Shareholders to the Company in advance
in writing, by providing the shareholder's (natural or legal person's) personal
identification number, the natural person's consent to process personal data -
personal identification number, in the letter and by sending it by registered
mail. The Company undertakes to respond if the questions are received not later
than 3 business days before the General Meeting of Shareholders. Responses of a
general character shall be posted on the Company's website http://www.ut.lt.
The Company will not respond personally to the shareholder if the respective
information is posted on the Company's website. 

The shareholders could get familiarised with the documents possessed by the
Company related to the agenda of the Meeting, including draft resolutions, and
other documents to be submitted to the General Meeting of Shareholders as well
as to get information regarding execution of the shareholders' rights at the
headquarters of AB „Utenos trikotažas“, registered at J.Basanavičiaus g. 122,
LT-28214 Utena, Lithuania, or on the Company's website at http://www.ut.lt. 

For more information please contact Mr. Nerijus Vilūnas, Managing Director of
AB Utenos trikotažas, tel. No. +370 389 51445. 

           Managing Director AB   Utenos trikotažas Nerijus Vilūnas