Snaige AB - Interim information

In the Third Quarter AB Snaige Alytus Factory Calculated Profit

According to unaudited consolidated financial results of 9 months of 2010, AB
„Snaigė“ has received revenues of 87.8 m.LTL (25.43 m.EUR) and incurred net
loss of 2.4 m.LTL (0.69 m EUR). The same period last year the Company has
incurred unaudited consolidated net loss of 33.4  m.LTL (9.67 m EUR). 

According to director general Gediminas Čeika, results of AB “Snaige” factory
in Alytus reflect the Company's activities more accurately than the
consolidated results, because the factory in Kaliningrad was closed more than a
year ago. Alytus factory during the third quarter, earned 2.5 m.LTL (0.724 m
EUR) unaudited non-consolidated profit. 

Company's director general said he was satisfied with both the third quarter
and nine months results. "Snaige in this year is in a far better position than
last year, said G.Čeika, last year nine-month unaudited non-consolidated EBITDA
(after eliminating the closure of a factory in Kaliningrad loss) was -1.5 m Lt
(-0.43 m EUR), but this year it was over than 7 m LTL. The third quarter of
this year's non-consolidated unaudited EBITDA was 5 m LTL (1.45 m EUR) where
last year over the same period non-consolidated unaudited EBITDA amounted to
1.5 m LTL (0.45 m EUR). This is perfectly illustrates significant Company's
performance improvement. 

These encouraging results, according to G. Čeika are the outcome of an
excellent work and dedication of all Snaige employees. After the Company
partial lost the Russian market, it didn't give up and looked for the other
opportunities. Export of refrigerators under the brand Snaige was started to
Uzbekistan and Tajikistan; it was also renewed trade with Kazakhstan and
established commercial relations with several new clients in France, Germany
and Spain. Also, the most economical refrigerators of A++ category with the
minimum power consumption were successfuly launched in Lithuania, Moldova,
Czech Republic, Ukraine, Germany and other markets. 

The consolidated non-audited financial statements for 9 months of 2010 and the
confirmation of accountable persons (attached). 

Managing Director
Gediminas Čeika
+370 315 56206

Attachments:

snaige 2010_3q_en_.pdf