City Service AB - Notification on material event

On City Service AB activity and the decision regarding investment in subsidiary

Vilnius, Lithuania, 2011-12-29 17:00 CET (GLOBE NEWSWIRE) -- The Board of City
Service AB (hereinafter - Company) in its meeting of 29 December 2011 adopted
the decision that the Company activity shall be holding enterprise - investment
public company which controls facility management, maintenance, waste
management companies in Lithuania and in other countries. 

The Company's commercial real estate management and maintenance activities
(including rights and obligations related to the mentioned activities) as
assets complex shall be transferred to the 100 percent controlled subsidiary of
the Company City Service LT UAB (code 300883806) by investing in its share
capital. The Company's contracts (contractual obligations and rights) with the
clients that can not or will not be possible to transfer or the term ends
within one year, shall be executed by the Company. The subsidiaries which
manage residential facility in Lithuania and perform other activities related
with the residential facility management shall be transferred to City Service
LT UAB direct control as well. 


         Vilius Mackonis,
         Public relations manager
         +370 5 239 4900