OREANDA-NEWS. TEO LT, AB (hereinafter - “TEO” or “the Company”) received notifications from the Chairwoman of the Board Malin Frenning and members of the Board Jens Loow and Mats Lillienberg about their resignation from the Board of the Company as of 28 April 2014. TeliaSonera AB (Sweden), the largest shareholders of TEO, has nominated them to the Board of the Company.

In April 2014 a new organisation structure of TeliaSonera AB will come into force. The resigning members of the Board of TEO will take new positions at TeliaSonera AB, which will not be directly related to TEO.

The Chairwoman of the Board Malin Frenning (born in 1967) is a member of the Board of TEO from 26 April 2010. She is also Chairwoman of the Remuneration Committee of the Company. Currently Malin Frenning works as President of Business Area Broadband Services at TeliaSonera AB and from 1 April 2014 she will be Head of Sweden at TeliaSonera AB.

Jens Loow (born in 1965) was elected to the Board of TEO for the two-year term on 25 April 2013. He is also Chairman of the Audit Committee of the Company. Currently Jens Loow occupies position of Chief Financial Officer, Business Area Broadband Services at TeliaSonera AB. Starting from 1 April 2014 he will be in charge of Sweden in Group Finance unit at TeliaSonera AB.

Mats Lillienberg (born in 1960) was elected the Board of TEO for the two-year term on 25 April 2013. He is also member of the Remuneration Committee of the Company. Currently Mats Lillienberg is Head of Broadband Technology Solutions at TeliaSonera AB, and from 1 April 2014 he will be Chief Technology Officer for Sweden in Group Technology unit at TeliaSonera AB.

None of them has any interest in the share capital of TEO LT, AB.

The Annual General Meeting of the Company's Shareholders that shall elect new members of the Board for the current term of the Board to substitute the resigned ones is planned to be held on 29 April 2014.