The Annual General Meeting of TEO LT, AB (hereinafter ‘the Company' or ‘TEO') shareholders took the following decisions on 29 April 2008: - approved audited Company's annual financial statements for the year 2007, prepared according to the International Financial Reporting Standards. Consolidated Annual Report of the Company for the year 2007, prepared by the Company, assessed by the auditors and approved by the Board of Directors was also presented to the shareholders. - allocated the Company's profit of the year 2007 according the draft of profit allocation presented for Annual General Meeting of Shareholders: from the Company's distributable profit was allocated LTL 194,204 thousand (EUR 56,245 thousand) for the dividend payment for the year 2007 or LTL 0.25 (EUR 0.072) dividend per share. For annual payments (tantiemes) to the members of the Board for the year 2007 allocated LTL 378 thousand (EUR 109 thousand), i.e. LTL 54 thousand per one member of the seven-members' Board. The Company plans to pay out dividends on the 28 May 2008. - elected UAB PricewaterhouseCoopers as the Company's audit enterprise for two years to make the audit of the Company's financial statements for the year 2008 and 2009 and to make assessment of the Company's Consolidated Annual Reports for the year 2008 and 2009. Authorized the Company's General Manager to conclude the Agreement for audit services, paying for services the price agreed between the parties but in no case more than 480,000 (four hundred and eighty thousand) litas (VAT excluded) for the audit of the Company's financial statements for the two financial years and assessment of the Company Consolidated Annual Report for the year 2008 and 2009 (i.e. 240,000 (two hundred and forty thousand) litas (VAT excluded) per one year). The agenda issue of election of the Company's Board member was not discussed as no candidates for elections to the Board member position were received. Eglė Gudelytė-Harvey, Director of Corporate and Legal Affairs Unit, tel. +370 5 236 72 92.