Imoniu grupe ALITA, AB - Notification on material event

Regarding application of interim protective measures

Alytus, Lithuania, 2011-11-28 16:42 CET (GLOBE NEWSWIRE) -- Įmonių grupė
„ALITA“, AB (the Company) informs that on 25 November 2011, the Local Court of
Alytus Region (the Court) in written proceedings examined the request of the
Claimant, the Privatisation Agency of the Republic of Serbia, regarding
application to the Company of interim protective measures in order to secure
the enforcement of the future arbitral award of the Foreign Trade Court of
Arbitration at the Serbian Chamber of Commerce (Serbian Court of Arbitration); 

The Privatisation Agency of the Republic of Serbia asked the Court to impose
attachment on the property owned by the Company up to LTL 236,291,079 in value
and to prohibit the Company from disposal of such property, allowing only to
pay wages/salaries to employees, taxes to the State and to make settlements
with the Privatisation Agency of the Republic of Serbia. 

The Court satisfied such request of the Privatisation Agency of the Republic of
Serbia only in part: until coming into force of the final arbitral award of the
 Serbian Court of Arbitration the Court ordered to attach immovable property
owned by the Company in the amount of LTL 236 291 079. In the absence or
insufficiency of immovable property to attach the existing movable property and
property rights held by the Company and/or any third parties and allow to use
the attached property only for its direct purpose without the right to dispose
(transfer, exchange, mortgage/pledge, etc.) of such property. 

The Court decided not to impose attachment on monetary funds and rejected such
request of the Agency. The Court pointed out that the imposed interim
protective measures should not interfere with the normal business activities of
the Company. 

As it has been announced, the Company hereby supplementary informs that the
Company has not entered into any agreements with the Privatisation Agency of
the Republic of Serbia and that there are no legal grounds to consider the
Company a party to any arbitration agreement or arbitral proceedings with the
Privatisation Agency of the Republic of Serbia. 

Therefore, in the near future the Company will appeal against the judgment of
the Local Court of Alytus Region regarding interim protective measures as being
groundless and unlawful. 


         For any additional information please refer to Director General
Paulius Kibiša, tel.: (8 315) 57243.