Snaige AB - Interim information

CORRECTION: An encouraging AB „Snaige“ half-year results

Correction: Interim report, page 9, "first half" instead of "first quarter".

According to unaudited consolidated financial results of I half of 2010, AB
„Snaige“has received revenues of 47,2 m.LTL and incurred net loss of 1,1 m.LTL. 
According to managing director Gediminas Čeika, the company managed to survive
the harshest years of economic downturn. „The manufacturing and managerial
optimization, mobilization of company‘s capacities allowed not only to survive,
but also to work stably, to maintain majority of market share and product
demand. We haven't forgotten our consumers: on May the company presented the
most economical refrigerators of A++ category with the minimum power
consumption. These products become very popular in European market. 
Although the forecasts for of large household compliance manufacturers and
retailers for year 2010 are not very optimistic, we believe that the hardest
period of AB „Snaige“ is already in the past.“ 

Consolidated unaudited EBITDA of the company in the first half of 2010 totaled
5,4 m.LTL which is 14,4 m.LTL larger than in the same period previous year.
According to Gediminas Čeika, this is certainly a positive indicator while
evaluating company‘s operations. 

The consolidated non-audited interim financial reports for 6 months of 2010,
Semi-annual consolidated financial statements for 2010 and the confirmation of
accountable persons (attached). 

Managing Director
Gediminas Čeika
+370 315 56206

Attachments:

snaige_en.pdf