Snaige AB - Notification on material event

Subscription of new bond issue

On 8 July 2009 the subscription period of AB „Snaigė“ bonds with maturity of
274 days and annual interest rate of 14% has ended. During the subscription
period 6 962 bonds with nominal value of 100LTL were subscribed. 

The issued securities were exceptionally offered only for the holders of AB
“Snaigė” bonds which were not redeemed on 6 April 2009 by allowing to swap one
non-redeemed bond to one newly issued. In such a way holders of approximately
one third of all non-redeemed bonds agreed to restructure their overdue
securities. After the end of subscription period the residual nominal value of
non-redeemed bonds decreased to 1.67 m.LTL (or 8.4% of the whole bonds issue of
year 2008). 

The company invites the holders of remaining non-redeemed bonds to continue
negotiations in order to identify solution appropriate for both parties. 

Managing Director   
Gediminas Čeika
+370 315 56206
www.snaige.lt