Snaige AB - Notification on material event

On convertible bonds issue prospectus of AB „Snaige“

The prospectus of AB „Snaige“ convertible bonds issue with maturity of 367
days, nominal value of the whole issue of 7.5 m.EUR (25.9 m. LTL) was approved
by Securities Commission on 5 March 2009. 

The main facts about the issued convertible bonds:

•	Maturity of the bonds: 367 days.
•	Nominal value of one bond: 100.00 EUR.
•	Number of issued bonds: 75 000 units.
•	Annual interest rate: 18%
•	Redemption price: 100.00 EUR.
•	Shares, to which bonds can be converted: AB “Snaige” ordinary shares.
•	Conversion rate: 1:345 (one bond is converted into 345 shares)
•	Subscription period: 10 March 2009 - 6 April 2009
•	Preemptive right period: 10 March 2009 - 23 March 2009
•	Beginning of the bonds validity period: 7 April 2009 
•	Bonds redemption date: 8 April 2010

Bond holders will have a right to convert the bonds to ordinary shares of AB
“Snaigė” at the date of the redemption (8 April 2010). 

The shareholders of AB „Snaigė“ will have a preemtive right to acquire the
issued bonds during the first 14 subscription days (10 March 2009 - 23 March
2009), proportionally to the nominal value of shares owned at the end of 23
February 2009 general shareholder meeting rights accounting day (9 march 2009).
During the remaining subscription period (24 March 2009 - 6 March 2009) the
remaining investors will have a right to acquire the bonds. 

Investors are invited to sign the Bonds purchase agreements during the Bonds
subscription period at UAB FMĮ „Orion Securities“, A.Tumėno g.4B, LT - 01109,
Vilnius, Lithuania during working days from 8.30 till 17.30. 

Director General at interim,
Neringa Menčiūnienė
8 315 56206