Conclusion of the offering of shares, conditional registration of all shares in the Polish central securities depository and application for listing on the Warsaw Stock Exchange

The subscription for ordinary shares of PTA Grupp AS (change of name to AS
Silvano Fashion Group pending, the “Company”) offered for sale to institutional
investors in Poland and other EU countries made in connection with listing the
shares of PTA Grupp AS on the Warsaw Stock Exchange (the “Offering”), which
lasted from 12 July to 13 July 2007 is now concluded. 

All shares of the Company offered in the course of the Offering (6,221,338
shares) were subscribed for by 273 investors to all of whom shares were
allotted on 16 July 2007. As determined on the basis of the book-building
process, the price of the Offering is 19.81 PLN (equivalent to 5.25 EUR, 82.6
EEK) per share. The final volume of the offering is therefore equal to 123.2
million PLN (equivalent to 32.7 million EUR, 513.9 million EEK). 

On 11 July 2007, Krajowy Depozyt Papierów Wartościowych S.A. (“Polish NDS”),
the operator of the Polish central securities depository, has passed a
resolution on the ongoing registration of up to 37,947,198 shares of the
Company in the Polish central securities depository, which registration is
subject to: (i) the admission of all shares of the Company to listing on the
Warsaw Stock Exchange, (ii) the fulfilment of all the formal requirements as
stipulated in the rules and detailed rules of the Polish NDS and (iii) the
ongoing registration of these shares on the nominee account of the Polish NDS
in the Estonian Central Register of Securities. 

The Company has submitted an application for the listing of all its shares on
the Warsaw Stock Exchange on 13 July 2007 and will publish information on any
decision taken by the Warsaw Stock Exchange as soon as it becomes available.
The Company will also publish the precise date of the settlement of the
Offering and the commencement of trading in its shares on the Warsaw Stock
Exchange as soon as it becomes available. 

In connection with seeking admission to trading on the Warsaw Stock Exchange,
the Management Board of the Company hereby discloses in accordance with § 29 of
the Rules of the Warsaw Stock Exchange, the Management Board's statement on
compliance with corporate governance principles applicable to public companies
listed on the Warsaw Stock Exchange (“Best Practices of the Public Companies in
2005”). The statement is enclosed. 



Peeter Larin
PTA Grupp AS
Member of the Management Board
Tel +372 6 710 700