Agrowill Group AB, the largest agricultural investment and development company in the Baltic States, based on decision of the Board of the company, intends to sell all land owned by Agrowill Group in Lithuania to the investment Land Fund that will be established. “The board of the Company analyzed the possibilities of the use of the land and related costs and decided to concentrate more on the primary activities of the Agrowill Group companies - production of the raw agricultural products - and to separate land management by disposing it to the investment Land Fund, which will be specialized solely in this field and will lease-back all land necessary for the activities of Agrowill Group companies” - said V. Šulskis, the general director of Agrowill Group. It is planned that the Company's income from this transaction will be not less than LTL 200 million. According to the management of the Agrowill Group the sale of the land will allow Agrowill Group not only to significantly reduce the financial liabilities by returning the major part of financial debt, but also will provide with additional funds for further expansion of the Group by acquiring modern and successfully operating agricultural companies in the Baltic States. It is planned that after the return of the major part of the financial liabilities, DEBT/EBITDA ratio of the Group will be reduced to 2.5 - 3.5 level. Based on the future cash flows analysis, after the sale of the land owned by Agrowill Group and investing into the acquisitions of the new and stable operating agricultural companies, the net cash flows of the Group for 2009 - 2013 would increase by approximately LTL 30 million, which would be used for further modernization of the activities of the Group. After the sale of the land, the investment Land Fund will sign long-term land lease agreements with the average term of 15 years with Agrowill Group, farmers and other agricultural companies, which currently are renting the agricultural land from Agrowill Group. As noted by the general director of Agrowill Group, the terms of establishing the investment Land Fund are still being prepared, but it is planned that the funds will be attracted exclusively from international investors. The planned start of the investment Land Fund is the end of the first quarter or beginning of the second quarter of 2009. Sixteen thousand hectares of land is planned to be sold to the investment Land Fund. Currently, Agrowill Group has property rights to 14,500 hectares of land but plans to buy more land before the end of the year. Agrowill Group currently manages 15 agricultural companies. The acquisition of two more agricultural companies will be completed in the coming month. The group of companies manages a herd of more than 7,000 milking cows in the Baltic region. Domantas Savičius CFO 8-5 233 5340