Agrowill Group AB - Notification on material event

Agrowill Group AB operations becomes profitable

Agrowill Group AB, one of Lithuania's agricultural market leaders, has proven 
to be profitable this year, earning an unaudited profit of LTL 0.347 million 
in the first eight months of this year. In the first eight months of this year, 
the company's turnover made up LTL 27.042 million and EBITDA amounted to 
LTL 11.694 million. 

“Following several years of intensive reorganisation of agricultural 
companies' activities, we have cut operating costs, increased working 
efficiency and have already achieved positive financial results this year. 
Decisive actions in the area of efficiency enhancement and strengthening 
of the managerial base suggest that we have overcome the most difficult 
phase of the company's existence and have managed to earn a profit even 
under the conditions of an economic crisis,” Algirdas Pereckas, General 
Manager of Agrowill Group, has said. 

In his words, the EBITDA target for 2010 is LTL 13 million. 

Agrowill Group currently has some 3,000 cows. The company controls 32,000 
ha of land, which has yielded 41,800 tons of grain and oilseed rape this 
year. 

The General Meeting of Agrowill Group shareholders has recently decided 
to more than double the authorised capital of the company from 
LTL 27,687,747 to LTL 65,260,397. 

The main purpose of attraction of new investors is to strengthen the capital 
base and seek to achieve a strategic objective in future, namely to boost 
shareholder equity to LTL 100 million. This will facilitate further 
consolidation of the company's business. 

Agrowill Group says it will continue developing its current activities, 
increasing its operating efficiency and strengthening the company's 
financial performance.  

About Agrowill Group 
Established in 2003, Agrowill Group is a centrally-managed and one of the 
largest companies engaged in primary agricultural production in Eastern 
Europe. The company is seeking to not only become the most modern company 
in its area but has also set itself the objective of becoming an EU leader 
in terms of milk yields per cow, grain yields per hectare and the number 
of motor hours per unit of machinery, using economies of scale. This can 
be achieved through appropriate production planning, best use of the 
existing infrastructure and provision of services to external customers. 
Agrowill Group currently operates more than 40 enterprises which either own 
or lease a total of some 32,000 hectares of farmland, more than 700 units 
of machinery, 250,000 square metres of various manufacturing facilities, 
and has some 3,000 dairy cows.

The largest shareholders of Agrowill Group are Vretola Holdings Limited 
and Volemer Holdings Limited. The company's shares are quoted on OMX 
Vilnius Stock Exchange. 

For more information, please contact: 
Algirdas Pereckas, General Manager of Agrowill Group, tel. 8-699-14227.