TEO LT, AB - Notification on material event

The Annual General Meeting of Shareholders will be held on 26 April 2010

The Annual General Meeting of TEO LT, AB (code 1212 15434, registered address:
Savanorių ave. 28, Vilnius, Lithuania) Shareholders will be held at room 157 of
TEO LT, AB headquarters, Savanorių ave. 28, Vilnius, Lithuania, at 13.00 on 26
April 2010. Registration will take place from 12.00 till 12.45. 

The meeting is convened by initiative of the Board and following the decision
of the Board adopted on 25 March 2010. 

The General Meeting of Shareholders' accounting day is 19 April 2010.

The shareholders' property rights accounting day is 10 May 2010.

Proposed Agenda:
1. Information of the Company's auditor.
2. Approval of the annual financial statements of the Company and consolidated
group annual financial statements for the year 2009 and presentation of the
consolidated annual report of the Company for the year 2009. 
3. Allocation of the profit of the Company of 2009.
4. Election of the Company's auditor.
5. Annulment of the Company's treasury shares.
6. Sale of the Company's treasury shares.
7. Reduction of the Company's authorised capital.
8. Amendments to the By-laws of the Company.
9. Regarding the Company's registered office address.
10. Election of the Company's Board member.
11. Regarding implementation of decisions.

The purpose of reduction of the Company's authorised capital by the decision of
the General Meeting is to cancel treasury shares of the Company by annulling
them. 

Shareholders who at the end of the General Meeting of Shareholders' accounting
day, i.e. 19 April 2010, will be shareholders of the Company have a right to
participate and vote at the General Meeting of Shareholders personally or by
proxy, or 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 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 General Voting Ballot is also provided on the Company's website at
www.teo.lt under the heading ‘Investor Relations'. The filled in General Voting
Ballot 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 it by registered mail to TEO LT, AB,
Savanorių ave. 28, LT-03501 Vilnius, Lithuania. 

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

Persons, who at the end of the tenth business day following the General Meeting
that will adopt a respective decision, i.e. on 10 May 2010, (rights accounting
day) will be shareholders of the Company shall have property rights (to get
dividends). 

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 TEO LT, AB, Savanorių ave. 28,
LT-03501 Vilnius, Lithuania, or by e-mail egle.gudelyte@teo.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, to
nominate additional candidates to the Board, the audit company. The proposed
draft decisions must be presented in writing by sending them by registered mail
to TEO LT, AB, Savanorių ave. 28, LT-03501 Vilnius, Lithuania, or by e-mail
egle.gudelyte@teo.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 personal identification number and
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 www.teo.lt under the heading ‘Investor Relations'. 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 TEO LT, AB, Savanorių ave. 28, Vilnius, Lithuania, or on the
Company's website at www.teo.lt under the heading ‘Investor Relations'. 

The total number of the Company's shares is 814,912,760 of 1 Litas par value
each. The number of shares granting voting rights during the General Meeting of
Shareholders is 776,817,518. Property and non-property rights provided by the
Lithuanian Law on Companies are not granted to 38,095,242 treasury shares of
the Company. ISIN code of the Company's shares is LT0000123911. 

Information provided by tel: +370 5 236 7878.


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