Regarding TEO LT, AB funds in AB bank Snoras
We hereby inform, that in AB bank Snoras, to which a temporary administrator is appointed and temporary preventive measures to ensure protection of the assets are applied by the decision of the Board of the Bank of Lithuania, TEO LT, AB has an account which is used for collection of payments from residential and business customers for the telecommunication services provided by the Company.
As of 24 November 2011, there were LTL 73.1 thousand in the TEO LT, AB account for collection of payments in AB bank Snoras, and that amounted to around 0.04 per cent of the total amount of cash, cash equivalents and non-current financial investments (LTL 186,492 thousand) of the TEO LT, AB Group as of 30 September 2011.
The management of the Company believes that the temporary preventive measures to ensure protection of the assets applied to AB bank Snoras will not have any significant effect on activities and results of TEO LT, AB Group. Giedrius Vegys,
Chief Financial Officer,
tel. +370 5 236 7466
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