Snaige AB - Notification on material event

AB „Snaige“ has sold the real estate of its subsidiary company in Russia

Alytus, Lithuania, 2013-10-09 20:49 CEST (GLOBE NEWSWIRE) -- AB “Snaige” has
sold subsidiary company OOO “Techprominvest's” property. OOO “Techprominvest" -
the company's refrigerator plant in Kaliningrad, which used to manufacture
refrigerators for the Russian market. Its activities were suspended in 2009,
when after the ruble devaluation the plant became unprofitable. 

According to AB “Snaige” CEO Gediminas Čeika, the potential selling of the OOO
“Techprominvest” real estate is good news for the company. Having not operating
the plant for several years means unnecessary expenses for its maintenance and
this damages the consolidated financial result,” - said G. Čeika. “After
selling procedures the company will use its recourses in more effective way.” 


         Managing Director
         Gediminas Čeika
         +370 315 56206