Comments to the articles of the business paper „Äripäev“ titled „Premia pledged the shares of Saaremere Kala and Vettel“ and „Premia Foods refinanced a loan“ published on September 1st 2010

In the articles of the business paper „Äripäev“ titled „Premia pledged the
shares of Saaremere Kala and Vettel“ and „Premia Foods refinanced a loan“
published on September 1st 2010, a reference is made to AS Premia Foods
(hereinafter Premia) pledging 100% of the shares of its subsidiary Saaremere
Kala AS and ca 75% of the shares of its subsidiary OÜ Vettel in favour of a
bank. The referred execution of pledge agreements was a part of the transaction
of refinancing Premia's loan portfolio, which was described in the stock
exchange news published on September 1st 2010. The establishment of pledges
over the shares of the subsidiaries was not separately discussed in the stock
exchange news due to the fact that compared to the pre-refinancing situation,
the changes to the securities package were insignificant and some of the
securities were replaced with less burdensome ones. The referred pledges of the
shares replaced the guarantee of Krediidi ja Ekspordi Garanteerimise
Sihtasutuse KredEx, mortgages encumbering the immovables of the Finnish
subsidiary Heimon Kala Oy and surety granted by the majority shareholder of
Premia Foods Amber Trust II SCA, which were securing obligations of Premia in
front of the previous creditors. In the opinion of the Management Board of
Premia the changes in the securities package made in the course of the
refinancing transaction do not have an impact to the economic activities and
financial status of Premia. 


Additional information:

Andri Avila
CFO
AS Premia Foods
Tel: +372 6 033 800
E-post: andri.avila@premia.ee
http://www.premiafoods.eu