LITGRID AB - Notification on material event

Government Gives Go-Ahead to LITGRID AB Stock Transfer to New Company

Vilnius, Lithuania, 2012-07-04 16:03 CEST (GLOBE NEWSWIRE) -- The Government of
the Republic of Lithuania has adopted a resolution on the establishment of a
private limited company with the purpose of managing the power transmission
system operator LITGRID AB and national asset investment. The resolution is
passed in compliance with the requirements as provided for by the Law on
Electricity concerning the unbundling of the power transmission system operator
LITGRID AB's activity from the electricity supply and production companies. 

The stock of the power transmission system operator LITGRID AB, which is
controlled by the Visagino Atominė Elektrinė UAB, will be passed to a
newly-founded private limited company in consideration of the share market
value as set by independent experts. The stock of the newly-established private
limited company will be controlled by the Ministry of Energy under the right of
trust. 

The resolution also provides that, by 1 October 2012, the stock of the Visagino
Atominė Elektrinė UAB will be passed to the Ministry of Economy, which belongs
to the state under the right of property and is currently controlled by the
Ministry of Energy under the right of trust. 

For more information, please visit the website of the Government of the
Republic of Lithuania www.lrv.lt 


         Laura Šebekienė
         Head of Communications
         Ph. + 370 693 65377,
         Email: laura.sebekiene@litgrid.eu