City Service AB - Interim information

City Service group consolidated results for the year 2008

City Service group, the largest facilities management company group in the
Baltic States, announces its unaudited Consolidated Interim Financial
Statements for the year 2008, prepared according to International Financial
Reporting Standards. 

The total consolidated City Service group's revenue for 2008 was LTL 264
million (EUR 76.5 million), an increase by 26 % over the total revenue LTL
209.2 million (EUR 60.6 million) for the year 2007. 

Profit for 2008 amounted to LTL 10.1 million (EUR 2.9 million), over LTL 11.1
million (EUR 3.2 million) in 2007. 

Žilvinas Lapinskas, General Manager of City Service AB, has made the following
comments: „During last year we have successfully expanded our market share in
Lithuania, and the indicators of our main activities in facility management
remained stable. Still, few factors, among which of most importance was the
sudden devaluation of rouble in Russia, have prevented us from succeeding in
profit goals.  In Lithuania we have faced decline in amounts of heating
facilities renovation projects, due to the unfavourable financial situation in
the Lithuanian heating sector, also, the renovation of residential
multi-dwelling houses has not started, as it was expected“. 

On 6 February, 2009, City Service group was joined by four facilities
management companies operating in Vilnius. Due to this takeover area of
multi-dwelling houses under management of City Service Group in Lithuania has
increased by 28% from 6.6 million to 8.5 million sq. meters. The Group now
consists of 27 companies managing 13.4 million sq. meters of facilities and
operating in Lithuania, Russia and Latvia. 

ENCLOSED: City Service unaudited Interim Consolidated Financial Statements for
the year 2008 (in LTL). 

Vilius Mackonis,
public relations manager
+370 5 239 4900

Attachments:

city service 2008 12 month interim financial statements_en.pdf