Agrowill Group AB - Notification on material event

Agrowill Group AB temporary suspends expansion plans, and focuses on production efficiency optimization

Agrowill Group AB suspends expansion plans and in the nearest period of
time does not plan to acquire new companies or land plots (except for
land acquisitions made in order to form larger consolidated land plots
and land plot exchanges). 

Currently, primary goal of Group management is to increase the production 
efficiency, reduce the costs of production, and reduce the financial
liabilities. As at 30 September 2008, the financial liabilities of the 
Group exceeded the Capital by LTL 99 million.

The Company plans to implement new animal health, care and keeping, and 
milking technologies. A strategic agreement with worldwide milking equipment
leader DeLaval was signed earlier this week.

On 22 September 2008, the Company announced about the plans to sell the 
land under management (around 16.000 Ha) and receive up to LTL 200 million.
Agrowill Group does not withdraw the plans to sell the land under management,
but, taking into account the reduced activities of the investment funds, the
negotiations with different institutional and strategic investors are 
being made for the land sales in separate amounts from 100 to 2.000 Ha.


Domantas Savičius
CFO
8 5 233 53 40