Giedrius Vegys appointed to the position of Chief Financial Officer of TEO LT, AB from 1 April 2009

On 20 March 2009 the Board of TEO LT, AB (hereinafter TEO or “the Company”),
upon termination of employment contract of Jan-Erik Elsérius, Chief Financial
Officer and Deputy General Manager of the Company, decided to appoint Giedrius
Vegys to the position of Chief Financial Officer of the Company as of 1 April
2009. 

Jan-Erik Elsérius (born in 1943) was Chief Financial Officer of the Company
from 29 March 1999. 

Giedrius Vegys (born in 1959) is employed by the Company from 10 May 2004. Till
14 April 2008 he held position of Director of Risk Management Unit, and then
till the end of 2008 he worked as Senior Business Controller at TeliaSonera AB
(Sweden). In 1982, Giedrius Vegys completed Vilnius University, Faculty of
Economic Cybernetics and Finance, and has Executive MBA of Helsinki School of
Economics (2001). From 1995 till 2002 he worked at Lithuanian Development Bank
(latter Sampo bankas, currently Danske bankas) as Head of Finance Department,
Member of the Board - Head of Credit department, and from 2002 till 2004 as
Head of Credit Risk Department at UAB Lietuvos Draudimo Kreditų Draudimas. 

Giedrius Vegys has no shares of TEO LT, AB. He is member of the Board of UAB
Baltic Data Center, a subsidiary of TEO LT, AB. 


Egle Gudelyte-Harvey, 
Director of Corporate Administration and Legal Affairs Unit, 
tel. +370 5 236 7292.