TEO LT, AB - Notification on material event

The Board decided to close TEO GDRs program and delist GDRs from London Stock Exchange

On 25 March 2010 the Board of TEO LT, AB (hereinafter TEO or “the Company”)
decided to terminate the Global Depository Receipts (GDRs), representing the
Company's shares, programme, following the 15 June 2000 Deposit Agreement with
Bankers Trust Company (Deutsche Bank group), including delisting of GDRs from
the London Stock Exchange. 

According to the Global Depository Receipt programme, which TEO runs since June
2000, one GDR represents 10 ordinary registered shares of the Company. 

Currently Global Depository Receipts represent 3.71 per cent of the total
number of TEO shares. From the total outstanding number of 3,025,247 GDRs,
2,539,683 GDRs are TEO treasury GDRs. 

The Board decided to convert 2,539,683 Global Depository Receipts, representing
the Company's shares, held by TEO into 25,396,830 ordinary registered shares of
the Company (treasury shares). 

Currently TEO holds 38,095,242 treasury stocks: 25,396,830 are in the form of
Global Depository Receipts and 12,698,412 are in form of ordinary registered
shares. 


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