Snaige AB

Capital/Financing Update • Apr 8, 2010

Disclosure 277713

Snaige AB - Notification on material event

The correct information

Commenting information which appeared in the media today regarding failed redemption of AB „Snaigė“ bonds issued in year 2009, AB „Snaigė“ informs that information which appeared on the website of Central securities depository of Lithuania is not accurate. Official redemption term of the bonds is the end of working day of 8 April 2010. Currently the subscription of newly issued AB „Snaigė“ convertible bonds LT1000401315 is taking place, the proceeds from which would be used for the redemption of bonds issued in 2009. The Issuer and it‘s representatives are still negotiating with the owners of bonds issued in 2009 regarding refinancing of the securities. As the subscription period hasn‘t finished yet, it is not clear if attracted funds will be enough for full redemption of the bonds. Official information regarding redemption of the bonds issued in 2009 and subscription results of newly issued convertible bonds issue will be released on 9 April 2010. Managing Director Gediminas Čeika +370 315 56206