Comliet to Expand its Activities in Estonia

On 28 May 2002, UAB Comliet, the largest subsidiary of AB Lietuvos Telekomas, and one of the largest construction companies in the Baltics, AS Merko Ehitus Ltd., Estonia, signed a binding Letter of Intent with shareholders of the Estonian company AS Telegrupp. According to the Letter of Intent, Comliet and Merko Ehitus Ltd. will make a joint acquisition of 100 per-cent stake in Telegrupp. The majority stake in Telegrupp will be owned by UAB Comliet. Both the companies plan to sign the share acquisition agreement by the end of June. This step will allow UAB Comliet and AS Merko Ehitus Ltd. to offer a wider range of services and derive the maximum economic benefit from their cooperation on the Baltic market.

“Recently Comliet has signed an agreement on acquisition of the majority stake in the Latvian company Datu Tikli SIA allowing to expand Comliet’s activities in Latvia. Acquisition of AS Telegrupp shares will enable us to offer our services to Estonian customers, too. Our performance on the Baltic market will be based on the application of common solutions and the highest customer care standards,” says Tapio Paarma, Chairman of the Board of UAB Comliet.

According to Eimantas Ðatas, General Manager of UAB Comliet, AS Telegrupp is among the leaders on the Estonian market in the field of construction and maintenance of Low Current networks. Its core business will be further concentrated on construction and maintenance of Low Current networks with gradual addition of the services provided by Comliet such as installation of power supply systems, premises management systems, construction and maintenance of telecommunications networks.

Diana Roèienë, Press Officer, +370 2 36 72 99

About UAB Comliet

UAB Comliet is the largest subsidiary of AB Lietuvos Telekomas and one of the leading companies engaged in construction and maintenance of telecommunications networks in Lithuania. The company currently employs a staff of almost 2000 employees. Main activities of the company are as follows: construction and operation of fixed-line networks, construction and maintenance of wireless and mobile networks, installation and maintenance of indoor networks (telephone, LAN, WAN), alarm and fire protection systems, electric power and supply systems as well as sales, maintenance and repair of equipment. More information on UAB Comliet is available at the web site: http://www.comliet.lt.