Snaige AB - Notification on material event

Snaige AB notification on purchase-sale agreement of bonds in issue

Alytus, Lithuania, Snaige AB, 2011-01-12 14:50 CET (GLOBE NEWSWIRE) -- On 11
January 2011 Hermis Capital UAB signed an agreement to sell convertible bonds
issued by Snaige AB (ISIN - LT1000401315, nominal value - 100 EUR, redemption
date - 11 April 2011) for the following Snaige AB shareholders: 

KJK Fund SICAV-SIF                  6 617 bonds
Firebird Republics Fund, Ltd        1 629 bonds
Firebird Avrora Fund, Ltd           1 630 bonds

The transaction and the transfer of ownership rights should be completed by 21
January 2011. 

The agreement also gives buyers the rights to acquire the remaining 22 411
convertible bonds, which can be exercised until 10 April 2011. 


         Managing Director
         Gediminas Čeika
         +370 315 56206