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COMPETITION COUNCIL ALLOWED ACQUISITION OF INSURANCE FIRMS

12 03 2004

Lithuania’s Competition Council has approved the acquisition of 100-percent interest in Lindra, NORD/LB Draudimas and NORD/LB Gyvybes Draudimas. The three Lithuanian insures will be acguired by the Polish group Powszechny Zaklad Ubezpieczen.

The Competition Council ruled that the concentration would neither create nor strengthen a dominant position. As a result, competition on specific market segments would not be restricted.

Competition Council Spokesperson