Agrowill Group AB - Notification on material event

Preliminary results of Agrowill Group AB for Ist quarter of 2008

The preliminary consolidated non-audited sales of Agrowill Group AB 
for 1st quarter of 2008 totalled LTL 11.1 million (EUR 3.2 million), 
i.e. a 40 percent increase as compared to the same period of 2007.
In 1st quarter 2007, the consolidated unaudited sales ammounted to 
LTL 8.0 million (EUR 2.3 million). 

The 1st quarter consolidated non-audited loss of the year 2008 
ammounted to LTL 3.2 million (EUR 0.9 million). The 1st quarter 
consolidated unaudited net profit of the year 2007 was equal to 
LTL 24.7 million (EUR 7.1 million).

The growth in revenues was influenced by investments into subsidiary 
companies milk production facilities, as well as significant 
increase in price of raw milk.

The negative result was caused by the increased operating expenses
of the Group due to the IPO process. Financing costs increased due 
to rapid expansion of the Group being financed primarily by borrowed
capital.

The net profit in 1st quarter of 2007 occurred due to write-offs of 
negative goodwill to revenues as ŽVF group was acquired, as well as
first time revaluation of investment property being carried out
after acquisition.


Domantas Savičius
CFO
(8-5) 233 53 40