Snaige AB - Notification on material event

AB Snaige the third quarter earned LTL 3.3 million

2008 23 October, Alytus. The only household refrigerators manufacturer in the
Baltic countries AB Snaige according to unaudited consolidated data in 2008
third quarter, earned LTL 3.3 million profit before tax. This result is almost
three times higher than in the same period during previous year, when the
company earned  LTL 968 thousand as unaudited consolidated profit. The
company's unaudited consolidated EBITDA in third quarter amounted to LTL 9
million and was 29 percent higher than the same period of 2007, when the
unaudited consolidated EBITDA amounted to LTL 7 million. 

According to AB Snaige General Director  Gediminas Ceika, 2008 third quarter
profit is the result of measures implemented, optimizing of management and
production, reducing costs and shaping the outlets. "It is a big achievement to
receive a positive, albeit an interim result in economic downturn conditions.
This encourages further work in the desired direction, "- says Gediminas Ceika. 

After  restructuring of production, reducing the number of employees and
securing bank financing, the company is preparing to begin the next year with
much greater performance. 

During the nine months of this year, AB Snaige reached LTL 279 million
unaudited consolidated turnover. Third quarter, the unaudited consolidated loss
of AB Snaige decreased to LTL 5.3 million and increased the company's
unaudited consolidated EBITDA to LTL 13.4 million. 

Further information:
Gediminas Čeika 
AB „Snaigė“  General Director
Tel.  +370- 5315-56206
+370 52357162
www.snaige.lt