Snaige AB - Notification on material event

Regarding the approval of the circular of the non-competitive mandatory tender offer

Alytus, Lithuania, 2012-03-16 08:20 CET (GLOBE NEWSWIRE) -- On 15 March 2012,
Snaigė AB received an announcement from the shareholder UAB “VAIDANA” about 15
March, 2012 the decision of the Bank of Lithuania to approve the circular of a
non-competitive mandatory tender offer to buy up the remaining ordinary
registered voting shares of Snaigė AB. 

 The tender offer price is EUR 0.54 (fifty four euro cents) per 1 (one)
ordinary registered share of Snaigė AB, LTL 1 (one litas) par value (ISIN code
LT0000109274) each. Commencement of the implementation of the tender offer is
on 21 March 2012, termination - on 29 May 2012. 


         Managing Director
         Gediminas Čeika
         +370 315 56206