Snaige AB - Notification on material event

Regarding approval of the circular of the non-competitive mandatory tender offer

Alytus, Lithuania, 2011-03-14 15:36 CET (GLOBE NEWSWIRE) -- On 14 March 2011,
Snaigė AB received an announcement from the shareholders KJK Fund SICAV-SIF,
Firebird Republics Fund, Ltd. and Firebird Avrora Fund, Ltd. about the decision
of the Securities Commission of the Republic of Lithuania of 14 March 2011 to
approve the circular of a non-competitive mandatory tender offer to buy up the
remaining ordinary registered voting shares of Snaigė AB. 

The tender offer price is EUR 0.33 (thirty three euro cents) per 1 (one)
ordinary registered share of Snaigė AB, LTL 1 (one litas) par value (ISIN code
LT0000109274) each (equivalent in litas is equal to LTL 1.139424). Commencement
of the implementation of the tender offer is on 18 March 2011, termination - on
31 March 2011. 

Comprehensive conditions of the tender offer are presented in the circular
attached (please see the annex).          Managing Director
         Gediminas Čeika
         +370 315 56206

Attachments:

Cirkular (Snaige) (2011-02-28) (approved).pdf