Supreme Council of the Republic of Lithuania                         
                                                                                
                            Resolution                                          
                                                                                
On the Issuance of National Bonds to Support the Consolidation of               
                    Lithuania's Independence                                    
                                                                                
                                                                                
       The Supreme Council of the Republic of Lithuania, striving               
to restore  and develop  the economy  of Lithuania  ruined by the               
Soviet system   and  thus  to  consolidate  the  independence  of               
Lithuania, believing  that there  are many  people all  over  the               
world   willing to  render   financial assistance  to  Lithuania,               
resolves:                                                                       
       1. to issue in 1992 special national bonds of the Republic               
of   Lithuania to  support the  the consolidation  of Lithuania's               
independence.                                                                   
                                                                                
      2. to establish the following conditions of the issuance of               
special national bonds:                                                         
                                                                                
       1)  bonds shall  be issued  by separate issues each in the               
amount of  40 million  US dollars  and up to the total sum of 200               
million US dollars;                                                             
                                                                                
       2) the issuer of national bonds shall be the Government of               
the Republic of Lithuania;                                                      
                                                                                
      3) the nominal value of national bonds shall be denominated               
in US dollars;                                                                  
                                                                                
      4) other conditions of the issuance of national bonds shall               
be etablished  by the  Government of  the Republic  of  Lithuania               
providing for the charitable character of  national bonds.                      
                                                                                
      3. The Republic of Lithuania shall guarantee the redemption               
of national bonds by the property of the state.                                 
                                                                                
       4.  The resources of  national bonds shall form a separate               
non   budgetary fund  used for  crediting  Lithuanian economy and               
trades. This  fund shall  be at the disposition of the Government               
of the Republic of Lithuania.                                                   
     The order and conditions of the use of the resoursces of the               
fund shall  be approved by the Supreme Council of the Republic of               
Lithuania. Unused  resources of  the fund shall be deposited with               
the Bank of Lithuania.                                                          
     5. To obligate the Government of the Republic of Lithuania:                
     1) to approve  par values and samples  of national bonds;                  
       2) at the beginning of 1992 to issue national bonds and to               
organize their distribution abroad;                                             
      3) to establish the order and time limits of the redemption               
of national bonds;                                                              
      4) By 10 March 1992 to submit to the Supreme Council of the               
Republic of Lithuania the draft directive on the order of the use               
of the   fund of national bonds.                                                
                                                                                
       6.  To obligate the Bank of Lithuania to perform necessary               
banking operations concerning  national bonds.                                  
                                                                                
Bronislovas Kuzmickas                                                           
Vice President                                                                  
Supreme Council                                                                 
Republic of Lithuania                                                           
Vilnius                                                                         
7 November 1991                                                                 
No. I-1977