TEO LT, AB - Notification on material event

TEO closes its GDR program and delists GDRs

Following the decision of the Board of TEO LT, AB (hereinafter - ‘TEO' or ‘the
Company') made on 25 March 2010 and publicly announced on 26 March 2010 to
close GDRs program, the Company specifies that TEO is terminating its Global
Depository Program (GDR), based on Deposit Agreement dated 15 June 2000 between
the then AB Lietuvos Telekomas (now - TEO LT, AB) and the then Bankers Trust
Company (now - Deutsche Bank Trust Company Americas), as of 1 July 2010. 

The Company will delist TEO Regulation S GDRs (ISIN US88074Q2075) and Rule 144A
GDRs (ISIN US88074Q1085) from the Official List of the UK Listing Authorities
and will discontinue trading in TEO GDRs type Reg S (ISIN US88074Q2075) on the
London Stock Exchange (ticker: TEOL) as of 30 June 2010. 

According to the Global Depository Receipt programme one GDR represents 10
ordinary registered shares of the Company. Up to 30 June 2010 TEO GDRs could be
traded on the London Stock Exchange or transferred (free of charge) into
ordinary registered shares of the Company (ISIN LT0000123911) which are traded
on NASDAQ OMX Vilnius Stock Exchange (ticker: TEO1L). Upon closure of GDR
programme any outstanding GDRs will be sold and the proceeds distributed to
remaining GDR holders. 


Egle Gudelyte-Harvey, 
Director of Corporate Administration and Legal Affairs Unit, 
tel. +370 5 236 7292