The Board convenes the AGM and proposes to pay 0.26 litas dividend per share

On 14 March 2007, the Board of TEO LT, AB (hereinafter TEO or the Company)
decided to convoke the Annual General Meeting of TEO LT, AB Shareholders on 26
April 2007. The shareholders' registration day for Shareholders' Meeting is 19
April 2007. Proposed Agenda: 
1. Information of the Company's auditors.
2. Approval of the Company's annual financial statements and presentation of
the Consolidated Annual Report of the Company for the year 2006. 
3. Allocation of 2006 Company's profit.
4. Recall of the Company's Board members.
5. Election of the Company's Board members.

The Board approved audited financial statements of TEO LT, AB Group for the
year 2006 prepared according to International Financial Reporting Standards and
Consolidated Annual Report of the Company for the year 2006. Consolidated
revenue of TEO Group for the year 2006 amounted to LTL 734,811 thousand (EUR
212,816 thousand) and profit for the period was LTL 130,549 thousand (EUR
37,810 thousand). 

The Board proposes for the Annual General Meeting to allocate from the
Company's distributable profit LTL 201,973 thousand (EUR 58,495 thousand) for
the dividend payment for the year 2006 or LTL 0.26 (EUR 0.075) dividend per
share. For annual payments to the members of the Board for the year 2006 to
allocate LTL 378 thousand (EUR 109 thousand), i.e. LTL 54 thousand per one
member of the seven-members Board. 


Eglė Gudelytė-Harvey, 
Director of Corporate and Legal Affairs Unit, 
tel. +370 5 236 72 92.