According to unaudited consolidated data the revenues of AB ”Snaige” have reached 32.8 m.LTL in the first quarter of 2009. The revenues were two times smaller than in the same period in 2008 (79.08 m.LTL). According to the director general of AB ”Snaige” Gediminas Čeika, reached revenues are the same as planned in the beginning of the year, taking into account that only one of company's two factories was operating and that only one shift was employed for 4 days a week. “The first quarter was challenging” - says G. Čeika. -“Due to devaluation of local currencies in Russia and Ukraine and due to 18% increase in import tax in Ukraine sales in these main markets of AB “Snaige” have significantly decreased. Due to decreased sales we were forced to reduce number of employees, restructure manufacturing and adapt to new conditions. During the first wuarter of 2009 the company has incurred consolidated unaudited loss before tax of 14 m.LTL. Loss due to devaluation of Russian rubble amounted about 6 m.LTL, and due to employees severance compensation - about 3 m.LTL. According to director general of AB “Snaige” the loss is almost 5 m.LTL smaller than consolidated loss before taxes incurred during the last quarter of 2008. “This is small, but still a step ahead” - says G. Čeika. - “After the beginning of hot season we started to receive more orders, entered into 5 working days per week manufacturing mode. However we are unable to increase manufacturing significantly due to lack of working capital. If the company would be successful in receiving government support or reaching more favorable agreements with Lithuanian banks, we would be able to manufacture more refrigerators and fulfill more orders.” According to consolidated unaudited data, AB “Snaige” has reached EBITDA of -9.2 m.LTL. The consolidated non-audited interim financial reports for 3 months of 2009 and the confirmation of accountable persons (attached). Managing Director Gediminas Čeika +370 315 56206 www.snaige.lt