DECISIONS OF THE EXTRAORDINARY SHAREHOLDERS MEETING OF SILVANO FASHION GROUP

An Extraordinary Meeting of Shareholders of Aktsiaselts Silvano Fashion Group
convened on Tuesday, 9th of November 2010 at 12 p.m in the hotel „Park Inn
Central Tallinn“, conference room „Studio 3“, address Narva mnt 7C, Tallinn. 
From the total 39 607 000 voting shares, 19 825 356 votes were represented,
which constitutes 50,06 % of the total voting rights. 

The decisions of the Extraordinary Shareholders meeting were as follows:

1. To approve the share repurchase program of Silvano Fashion Group under the
following conditions: 

- SFG is entitled to buy back its own shares from the approval of the buyback
of own shares by the Extraordinary General Meeting until 30 June 2011; 
- The total nominal value of own shares to be bought back by SFG may not exceed
3 960 700 shares, i.e 10% of total share capital of SFG; 
- The maximum price payable by SFG for one share will be 4.00 EUR; 
- The maximum amount payable by SFG for its own shares is 15,842,800 EUR; 
- Own shares will be paid for with assets exceeding the share capital,
compulsory reserves and share premium. 
- The Management Board of SFG shall have the right to appoint an investment
firm or a credit institution as the lead manager of the buyback program of SFG
no later than 2 weeks (two weeks) from the approval of the buy-back program by
the Extraordinary General Meeting. 

Märt Meerits
Chairman of the Management Board
AS Silvano Fashion Group
Tel +372 680 1396
E-mail mart.meerits@silvanofashion.com