Siauliu Bankas AB - Notification on material event

Opinion of the Board of Šiaulių bankas AB about the submitted mandatory non-competitive tender offer to buy shares of the bank

The Board of Šiaulių Bankas AB, having familiarised itself with the mandatory   
non-competitive tender offer material presented to it by the offerors the       
European Bank for Reconstruction and Development, Algirdas Butkus, Arvydas      
Salda, Gintaras Kateiva, Sigitas Baguckas, Vytautas Junevičius and Kastytis     
Jonas Vyšniauskas, in its meeting held on 26 January 2010 made the statement    
(attached).                                                                     

Deputy Chief Executive Officer
Donatas Savickas 
Tel.: +370 41 595602

Attachments:

board_opinion_on_to_(eng).pdf