Snaige AB - Notification on material event

The correct information

Commenting information which appeared in the media today regarding failed
redemption of AB „Snaigė“ bonds issued in year 2009, AB „Snaigė“ informs that
information which appeared on the website of Central securities depository of
Lithuania is not accurate. Official redemption term of the bonds is the end of
working day of 8 April 2010. Currently the subscription of newly issued AB
„Snaigė“ convertible bonds LT1000401315 is taking place, the proceeds from
which would be used for the redemption of bonds issued in 2009. The Issuer and
it‘s representatives are still negotiating with the owners of bonds issued in
2009 regarding refinancing of the securities. As the subscription period hasn‘t
finished yet, it is not clear if attracted funds will be enough for full
redemption of the bonds. Official information regarding redemption of the bonds
issued in 2009 and subscription results of newly issued convertible bonds issue
will be released on 9 April 2010. 

Managing Director
Gediminas Čeika
+370 315 56206