Grigeo
Notification on material event

GRIGISKES AB do not suffer direct negative impact on the bank SNORAS AB nationalization

Vilnius, Lithuania, 2011-11-22 06:42 CET -- GRIGISKES AB informs that all the operations of the Group of GRIGISKES AB is financed from accounts in other banks operating in the territory of the Republic of Lithuania.

Till 16.11.2011 a negligible number of customers of all Group companies made settlement from their accounts in bank SNORAS AB. Sales to these customers accounted for a negligible share of each Group company's turnover.

In addition, GRIGISKES AB Group is insuring the potential customer's creditworthiness.

For these reasons, the decision of the Government of Lithuania to take over 100 per cent of shares of bank SNORAS AB for the needs of the society has no significant direct effect on activities and results of GRIGISKES AB or other companies of the Group.

         Vigmantas Kažukauskas
         Business Development Director,
         temporarily acting as a General Director
         (+370-5) 243 58 01