Panevezio Statybos Trestas AB - Notification on material event

Performance Results for the First Half of 2010

Referring to the unaudited data, during six months of this year the Group of
Panevėžio statybos trestas AB (PST) was on the income of 84.5 mln. Litas (24.5
mln. EUR), that is by 21 percents less than last year and made before tax
profit in the amount of 19.8 mln. Litas (5.7 mln. EUR). The company of PST was
on the income of 72.8 mln. Litas (21 mln. EUR) and made before tax profit
amounting 8.6 mln. Litas (2.5 mln. EUR). 

“The parent company of PST achieved a fairly high percentage of profitability
by not only recovering receivable debts in the amount of 3.6 mln. Litas
considered doubtful in 2009 but also by successful execution of works on sites:
CCGT Project at the Lithuanian Power Plant in Elektrėnai, Water Supply and
Waste Water Infrastructure Development in Šiauliai, Construction of Waste Water
Treatment Plant in Tauragė”, says the Finance Director Dalė Bernotaitienė. 

In the first half of 2010 PST investicijos UAB lost control in two companies:
Gelužės projektai UAB (sold) and Smiltynų kalvos UAB (bankruptcy proceedings
initiated). As in the Consolidated Statement the real estate projects had been
assessed up to net realisable value in the previous years, after losing their
control the profit amounting 10 mln. Litas was reflected in the Profit (Loss)
Statement and this increased the profit of Company Group. 

Panevėžio statybos trestas AB is one of the largest construction companies in
Lithuania. The company is certified in accordance with the requirements of
international quality, environmental, occupational health and safety management
systems. In the year 2007 PST won the National Quality Award for the company
policy and strategy, and also management, control of processes and resources,
satisfaction of customers', consumers' and employees' needs, etc. 

PST was awarded the medals of “Product of the Year” for the construction of
Sports Arena in Šiauliai in 2007, Combined Cycle Power Plant in Panevėžys in
2008 and Panevėžys Multifunctional Sports Arena CIDO ARENA in 2009. 

For more information contact:
Dalė Bernotaitienė
Finance Director
Panevėžio statybos trestas AB
Tel.: +370 5 505 507