TEO LT, AB - Notification on material event

The Board regarding treasury stocks

On 9 February 2010, the Board of TEO LT, AB (hereinafter TEO or ‘the Company')
considered a matter of the Company's treasury stocks. TEO LT, AB has 38 095 242
treasury stocks that amount to 4.67 per cent of the total number of the Company
shares. Treasury stocks were acquired during the Initial Public Offering (IPO)
in year 2000 and they have no rights to exercise any property and non-property
rights provided by the Law of the Republic of Lithuania on Companies. 

The Board decided to prepare and propose for the forthcoming Annual General
Meeting of Shareholders, which is planned to be held on 26 April 2010, to
consider two alternative proposals regarding treasury stocks: (1) regarding
sale of treasury stocks and set up of the procedure for sale of treasury
stocks, and (2) regarding cancelation of treasury stocks and related to that
reduction of the Company's authorised share capital. 

The Board meeting which shall pass a decision regarding convocation of the
Annual General Meeting and its agenda is scheduled for 25 March 2010. 


Darius Džiaugys, 
Head of Information Sector, 
tel. +370 5 236 7878