Approval of base prospectus of a debt securities programme and private placement of bonds


Report on the Stock Event

1. Šiaulių bankas AB, (enterprise code 112025254), with the registered address at Tilžės g. 149, Šiauliai.

2. This report is submitted to the Securities Commission of the Republic of Lithuania, to AB Vilniaus Vertybinių Popierių Birža and to the daily newspapers “Lietuvos rytas” and “Šiaulių kraštas”.

3. On May 19, 2006, Securities Commission of Lithuania approved the base prospectus of a debt securities programme of AB Šiaulių Bankas. Šiaulių bankas has has completed a EUR 10 million private placement of two-year bonds. A total of 100 000 bonds have been sold, each has a nominal value of 100 euro and will pay 4,6% annual coupon on May 17, 2007 and May 19, 2008, (at the same time with redemption of the principal amount). A registration account of these bonds will be opened at the Central Securities Depository of Lithuania on 22/05/2006.

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