Regarding the completion of bonds issue and application submission to the VSE


On Friday, 22nd of June, brokerage house "Orion Securities" completed
the public placement of LTL 14 million (EUR 4.05 million) bonds issue 
of largest across Lithuania agricultural investment company Agrovaldymo 
grupė AB. The one year to maturity bonds are to be redeemed on the 
24th of June 2008.

Today, on the 26th of June, Agrovaldymo grupė AB submitted an 
application to list the whole bond issue on the Baltic Bond list 
of the Vilnius Stock Exchange.  

"The second bond issue of "Agrovaldymo grupė" received substantial 
investor interest. The investors usually diversify their portfolios
by adding fixed income instruments. In this case, an 8 per cent 
annual interest rate, and one year maturity period made the offer 
very attractive indeed" commented the director of "Orion Securities"
Alius Jakubėlis.

The price of discounted coupon bonds fluctuated during the period of 
subscription from LTL 92,04 (EUR 26,65) on the first day, and 
LTL 92,44 (EUR 26,77) on the last day. The bonds were subscribed by 
investors in two currencies: LTL and EUR. According to Alius Jakubėlis, 
the bonds were subscribed by banks, institutional funds, investment
companies, and individual investors. 

"Part of the funds raised will be used to refinance the first bonds 
issue of 2006, the remaining funds, will be used for expansion of the 
group, and the modernisation of currently owned agricultural companies. 
Our goal is to achieve LTL 65 million (EUR 18,83 million) turnover by 
year 2010-2012, to increase the cultivated land up to 30 thousand 
hectares and breed up to 10 thousand milking cows" - commented the 
finance director of Agrovaldymo grupė AB Domantas Savičius.

The bond issue will be redeemed on the 24th of June 2008. In order to 
guarantee the redemption of the bond issue, Agrovaldymo grupė AB will 
pledge the shares in the agricultural enterprises it controls.

In 2006, the consolidated turnover of the Agrovaldymo grupė AB 
amounted to LTL 28 million (EUR 8,11 million) - a 21,6 per cent 
increase compared to 2005, while net profit of the Group amounted 
to LTL 4,86 million (EUR 1,41 million). During 2006, Agrovaldymo 
grupė AB invested more than LTL 10,7 million (EUR 3,1 million) into 
the activities of the subsidiary agricultural entities.

Agrovaldymo grupė AB

Investment company Agrovaldymo grupė AB currently owns 14 agricultural 
entities, and has recently completed the acquisition of the 100 per 
cent of "Žemės vystymo fondas" group. The group cultivates around 
24 thousand hectares of land and produces about 2 per cent of the 
primary agricultural production of Lithuania.

About brokerage house "Orion Securities"

Main activities of „Orion Securities“ include brokerage, corporate 
finance, private banking and asset management for private customers 
services.

Since the end of 2006, "Orion Securities" is a part of Norwegian 
financial services group "Orion". The parent company provides with 
wide range of investment banking and financial services, and is well 
known as one of the leading advisors for investments into small and 
mid-range business in the Nordic region. The company operates in Norway 
since 1999, and in Sweden since 2003. The group employs more than 
80 brokers, analysts and corporate finance specialists, 30 of them 
in Lithuania.


Domantas Savičius
Finance director
(8-5) 233 53 40