Snaige AB - Notification on material event

On the implementation of mandatory non-competitive tender offer report

Alytus, Lithuania, 2011-04-12 15:20 CEST (GLOBE NEWSWIRE) -- On 12 April 2011
Snaigė AB received a report from its shareholders KJK Fund SICAV-SIF, Firebird
Republics Fund, Ltd. and Firebird Avrora Fund, Ltd. on the implementation of
the mandatory non-competitive tender offer. 

 Through the implementation period of the tender offer, the aforementioned
shareholders bought-up 4,352,213 ordinary registered shares of Snaigė AB, with
nominal value of LTL 1 each (ISIN code LT0000109274), which represent 14,16
percent voting rights at the general meeting of shareholders of the company. 

 The report on the implementation of the tender offer is attached here too.


         Managing Director
         Gediminas Čeika
         +370 315 56206

Attachments:

Statement on the implementation of the offer (Offerors) (EN).pdf