An agreement regarding the sales of subsidiary has been signed


Report on the Stock Event

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

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

3. An agreement according to which the Bank is to sell 99.86 % of share package of “Pajūrio Alka” UAB was signed on 24-04-2007. It is planned to complete the transaction within the month. The party and amount of the transaction are not declared by the mutual agreement of the parties.

4. The report is not confidential.

5. Pranas Gedgaudas is authorized by the issuer to provide additional information on the stock event and is available on tel.: +370 41 595653.

Chief executive officer    Algirdas Butkus

25 April 2007