VST AB - Notification on material event

The Repeat Second Ordinary General Meeting of the Shareholders of VST, AB is called on July 11, 2008

Due to the fact that the Second Ordinary General Meeting of Shareholders of
VST, AB did not take place on June 13, 2008, the Board of VST, AB adopted a
decision to call the Repeat Second Ordinary General Meeting of the Shareholders
of VST, AB on July 11, 2008. The agenda of Second Ordinary General Meeting and
the draft decision, that was proposed by the Board of VST, AB shall be valid at
the Repeat Second Ordinary General Meeting: 

1. The item of the agenda: „The consideration of the distribution of 2007
profit (loss) of VST, AB“: 
„1.1. Approve the distribution of 2007 profit (loss) of VST, AB“.

Profit (loss) distribution project proposed to approve in a general
shareholders meeting: 
1.	Retained earnings at the beginning of the financial year 394 510 552 LTL
(114 258 153,38 EUR); 
2.	Net annual operating result (profit/loss) 67 243 911 LTL (19 475 182,75 EUR);
3.	Profit (loss) of the financial year that is unrecognized in the profit
(loss) statement 0 LTL (0 EUR); 
4.	Transfers from reserves:
4.1	Transfer from revaluation reserve 158 856 833 LTL (46 008 118,92 EUR);
4.2	Transfer from compulsory reserve 0 LTL (0 EUR);
5.	Shareholders contributions to cover losses (if shareholders decided to cover
all or a portion of losses) 0 LTL (0 EUR); 
6.	Total distributable profit (loss) 620 611 296 LTL (179 741 455,05 EUR);
7.	Profit allocation to the compulsory reserve 0 LTL (0 EUR);
8.	Profit allocation to the reserve to purchase company‘s own shares 0 LTL (0
EUR); 
9.	Profit allocation to other reserves 0 LTL (0 EUR);
10.	Profit allocation to pay out dividends (LTL per 1 share) 0 LTL (0EUR);
11.	Profit allocation to yearly pay outs to board and council members, employee
bonuses and other purposes 0 LTL (0 EUR); 
12.	Retained earnings carried forward to next financial year 620 611 296 LTL
(179 741 455,05 EUR). 

The Board of VST, AB will advise the General shareholders meeting to adopt the
decision to pay no dividends for the year 2007 and to bring forward the
Retained earnings to the next financial year. 
Following the provisions of Article 25 (3, 4) of Law on Securities of the
Republic of Lithuania, shareholders, which owned shares provide not less than
1/10 of all the votes, may at any time before the General Meeting or during the
Meeting propose the new draft decisions on the items put on the agenda. 


The date and time of the Repeat General Meeting: July 11, 2008, 2.00 pm;
The shareholders meeting place: Vilnius, Jasinskio st. 16C (5th floor); 
The accounting day of the shareholders meeting: July 3, 2008;
Registration starts: July 11, 2008, 1.25 pm;
Registration ends: July 11, 2008, 1.55 pm.


Aidas Ignatavičius 
Chief Executive Officer 
Person for contacts: 
Lina Minderienė
Chief Financial Officer
Phone +370 5 2781 200