Snaige AB - Notification on material event

Subscription of new bond issue

On 22 May 2009 the subscription period of AB „Snaigė“ bonds with maturity of
321 days and annual interest rate of 14% has ended. During the subscription
period 5 295 bonds with nominal value of 100LTL were subscribed. 

The issued securities were exceptionally offered only for the holders of AB
“Snaigė” bonds which were not redeemed on 6 April 2009 by allowing to swap one
non-redeemed bond to one newly issued. In such a way holders of 18% of all
non-redeemed bonds agreed to restructure their overdue securities. 

The company invites the holders of remaining non-redeemed bonds to continue
negotiations in order to identify solution appropriate for both parties. 

Managing Director   
Gediminas Čeika
+370 315 56206
www.snaige.lt