Seimas of the Republic of Lithuania                              
                           Resolution                                           
                                                                                
                    15 December 1993 No.I-338                                   
                             Vilnius                                            
                                                                                
         Concerning  the Indexing  of Personal  Savings                         
                                                                                
                                                                                
     Assessing the  financial possibilities     of the State, the               
Seimas of the Republic of Lithuania has resolved:                               
                                                                                
       1.  In  1994  to  compensate  personal    savings  of  the               
inhabitants   pursuant to  the Decrees  of the  Government of the               
Republic of  Lithuania (No.562  of 23  July 1993 and No.834 of 12               
November 1993) which are in effect at the present moment.                       
     2. To  recognize that personal deposits and interest thereon               
accumulated by  1 January  1991, as  well as   compensations  for               
savings and insurance contributions calculated in accordance with               
the procedure  provided for in item 1. of this Resolution  is the               
internal debt  of the  State of  the Republic of Lithuania to the               
population.                                                                     
     3. To propose to the Government of the Republic of Lithuania               
to establish  a special Savings Restoration and Compensation Fund               
for the compensation of personal savings.                                       
     4. To  form the  Savings Restoration  and Compensation  Fund               
from :                                                                          
     1) sales     proceeds   of state-owned property according to               
the  procedure  established  by  the  laws  of  the  Republic  of               
Lithuania, i.e.  having privatized state-owned property for money               
without  applying   money  quotas,  and  having  abolished  terms               
restricting privatization  and preferential  rights of employees,               
provided for  in   the Law  on  Initial  Privatization  of  State               
Property.                                                                       
     2) proceeds  from the  privatization of state-owned property               
for readily convertible currency;                                               
                                                                                
     3) proceeds from  shares of state-owned enterprises, sold on               
stock-exchange,  dividends   on  shares  hold  by  the  state  in               
privatized enterprises,  transferred to  State Securities  Fund (               
pursuant to  the Decree  of the  Government of  the  Republic  of               
Lithuania No. 180 of 23 March 1992);                                            
                                                                                
     4) part of the privatization fund;                                         
                                                                                
     5) compensation  for expropriated  deposits in  the  Central               
Savings Bank of the former USSR, provided a relevant agreement is               
concluded with the Russian Federation  within that period.                      
                                                                                
     5. The Government of the Republic of Lithuania shall  within               
the first  quarter of  1994  assess  the  remaining  unprivatized               
assets of enterprises.                                                          
                                                                                
     6. To  verify  within  the  year  1994  deposits  and  other               
payments and to calculate balance on each deposit and the sums of               
compensations on all accounts of one depositor.                                 
                                                                                
     7. Beginning with 1995 to pay compensations in proportion to               
the sums  accumulated in the Savings Restoration and Compensation               
Fund and  should such resources prove insufficient, to allocate a               
certain part thereof from the State Budget.                                     
                                                                                
     8. The  Government of  the Republic of Lithuania shall by 20               
February 1994  submit to  the Seimas for approval the Regulations               
of the  Savings Restoration  and Compensation  Fund, as  well  as               
amendments to the laws relative thereto.                                        
                                                                                
     9. During  the autumn  session of  1994 the  Seimas and  the               
Government of  the Republic  of Lithuania shall establish further               
procedure for the compensation of deposits and payments.                        
                                                                                
     10. The  Resolution shall  come into  effect from the day of               
its adoption.                                                                   
                                                                                
Ceslovas Jursenas                                                               
                                                                                
Speaker of the Seimas                                                           
of the Republic of Lithuania