TEO LT, AB (hereinafter TEO or “the Company”) received a resignation letter of its Board member Justas Pipinis dated 20 November 2008. Following the provision of the Part 10 of the Article 33 of the Law on Companies of the Republic of Lithuania that member of the Board may resign from office prior to the expiry of his term of office by giving a written notice thereof to the company at least 14 days in advance it is regarded that Justas Pipinis is resigning from the Board member position as of 4 December 2008. Mr Justas Pipinis (born in 1973), Managing Director of East Capital Holding AB (Sweden) and East Capital International AB (Sweden), was elected as member of the Board of TEO on 15 July 2008. Justas Pipinis has no direct interest in the share capital of TEO. As of 30 September 2008 East Capital owned 28,793,260 shares of TEO LT, AB which amounts to 3.53 per cent of the Company's share capital and 3.71 per cent of votes. Paulius Pakutinskas, Senior Legal Adviser of Corporate Administration and Legal Affairs Unit, tel. +370 5 236 7330