Draft resolutions to the Ordinary General Meeting of Shareholders





Draft resolutions to the Ordinary General Meeting of Shareholders


1. Šiaulių bankas AB, the enterprise code 112025254, the address: Tilžės st. 149, Šiauliai.


2. This report is submitted to the Securities Committee of the Republic of Lithuania, to Vilnius Stock Exchange AB and to the daily newspapers “Lietuvos rytas” and “Šiaulių kraštas”.


3. The Board of Siauliu Bankas AB has prepared the draft resolutions submitted to the General Shareholders Meeting to be held on 30/03/2006. Draft resolutions provide the following:


- to approve the Report of Bank‘s activities in 2005;



- to approve the Bank’s financial accounting for 2005;


- to approve profit allocation, in accordance with which LTL 372 thou of appropriated profit is assigned for the compulsory reserves, LTL 1694 thou – for dividends (2 per cent from the nominal value of share or LTL 0,02 per ordinary registered share with a nominal value of LTL 1);


-to increase the authorized capital of the bank by LTL 9,319,200 (from LTL 8,400,000 of share premium and LTL 919,200 unappropriated profit), issuing 9,319,200 ordinary registered shares of LTL 1 by nominal value and distributing bonus shares to the shareholders in proportion (11%) to the nominal value of shares owned by them on the day of this General Shareholders Meeting;


- to approve the Bank Charter changed in accordance with authorized capital increase and to authorize CEO Algirdas Butkus to sign them;


- to choose the audit’s enterprise “PricewaterhouseCoopers” UAB to check the bank’s financial accounting for the year 2006 and 2007.


4. The report is not confidential.


5. A person authorized by the issuer to provide the additional information on the stock event – Pranas Gedgaudas, tel.: 841 595653


Chairman of the Board
Algirdas Butkus

1. 2. t;