The decision of the Securities Commission on a tender offer to buy up shares of Linas AB

The Securities Commission at its meeting on May 31, 2007 decided to reject the
circular of mandatory non-competitive tender offer to buy up the remaining
ordinary registered shares of Linas AB that had been placed by Lione
Lenciauskiene. The decision also states that the obligation of Lione
Lenciauskiene to place and execute the mandatory tender offer does not
disappear, however the tender offer should be placed under different conditions
since during the targeted review it has been established that: 

   - Lione Lenciauskiene is not an independently acting person. She acts in
concert with Ramunas Lenciauskas and Nordic investicija UAB controlled by the
latter; 
  
   - An obligation of Lione Lenciauskiene and other persons acting in concert
to place and execute a tender offer appeared on July 11, 2006, when the
threshold of 40 percent of votes at the general meeting of shareholders that is
established in the Law on Securities was exceeded. 

   According to the Law on Securities a tender offer should be placed by all
persons acting in concert, and the price of the tender offer should be
established with regard to the date when the threshold of votes at the general
meeting is exceeded. In compliance with the provisions of the above-mentioned
Law, the person acting independently or in concert with other persons having
exceeded the threshold of votes held by them, lose all the votes at the general
meeting of shareholders of the company regarding the shares of which the tender
offer is placed. 


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