On 19 July 2007, the Board of TEO LT, AB (hereinafter ‘the Company' or ‘TEO') decided to acquire from UAB Lintel, a subsidiary of TEO LT, AB, treasury stocks of TEO LT, AB (12,698,412 ordinary registered shares and 2,539,683 Global Depository Receipts (1 Global Depository Receipt represents 10 ordinary registered shares)). TEO treasury stocks owned by UAB Lintel amounts to 4.67 per cent of the Company's share capital. On 12 June 2000, during the Initial Public Offering UAB Lintkom, then a subsidiary of UAB Lintel, which is a subsidiary of the Company, acquired 12,698,412 ordinary registered shares of the Company and 2,539,683 Global Depository Receipts. After UAB Lintkom was reorganised in 2004 by by merger of UAB Lintkom into UAB Lintel, UAB Lintel took over all UAB Lintkom rights, assets and liabilities. From then UAB Lintel, a subsidiary of the Company, owns 4.67 per cent of the Company's shares that following the Lithuanian Company Law are considered as treasury stocks of the Company and have no rights to exercise any proprietary and non-proprietary rights provided by the Company Law. This treasury stocks acquisition will not have any effect on consolidated financial statements of TEO Group as already in the year 2000 consolidated Group shareholder's equity was reduced by treasury stocks' acquisition value (LTL 120 million). Eglė Gudelytė-Harvey, Director of Corporate and Legal Affairs Unit, tel. +370 5 236 72 92.