Snaige AB - Notification on material event

Regarding the relations of the buyer of the Term Sheet and the company “Polair”

Alytus, Lithuania, 2011-08-29 15:32 CEST (GLOBE NEWSWIRE) -- Snaigė AB, legal
entity code: 249664610, office address: Pramonės str. 6, Alytus. 

Hereby Snaigė AB provides additional information related to the notification on
material event of 24 August 2011 regarding the buyer of the Term Sheet of 18
July 2011 regarding sale-purchase of shares of the company. 

On 29 August 2011 Snaigė AB has received the information from the buyer
according to the indicated Term Sheet TETAL GLOBAL LTD (hereinafter, the
“Buyer”) on the relations of the Buyer and the Russian company “Polair”,
according to which the controlling shareholder of the Buyer is Aleksei
Kovalchuk, who also holds the controlling block of shares in the company
“Polair”. 


         Managing Director
         Gediminas Čeika
         +370 315 56206