Changes in Substantial Shareholdings

Pioneer Pekao Investment Management SA, a management company of several Polish  
open-end funds, notified the management board of AS Silvano Fashion Group       
(„SFG“) of the increase of its votes in SFG up to 10.16%. The different funds   
managed by Pioneer Pekao Investment Management SA hold altogether 4,065,529     
shares in SFG, constituting 10.16% of the share capital of SFG and the votes    
entitled to vote at the general meeting. The shareholding of Pioneer Pekao      
Investment Management SA crossed the 10% level as a result of a transaction made
on 14 August 2009, whereby it obtained 104,000 shares in SFG. Prior to the      
aforementioned transaction, the shareholding of the funds managed by Pioneer    
Pekao Investment Management SA constituted 9.90%, i.e. the funds managed by     
Pioneer Pekao Investment Management SA held altogether 3,961,529 shares in SFG. 

The aforementioned 10.16% shareholding is held by the following funds managed by
Pioneer Pekao Investment Management SA: Pioneer Balanced Open-end Investment    
Fund (in Polish: Pioneer Zrównoważony Funusz Inwestycyjny Otwarty), Pioneer     
Polish Equity Open-end Investment Fund (in Polish: Pioneer Akcji Polskich       
Fundusz Inwestycyjny Otwarty), Pioneer Stable Growth Open-end Investment Fund   
(in Polish: Pioneer Stabilnego Wzrostu Fundusz Inwestycyjny Otwarty) and Pioneer
Small and Medium Companies of the Polish Market Open-end Investment Fund (in    
Polish: Pioneer Małych i Średnich Spółek Rynku Polskiego Fundusz Inwestycyjny   
Otwarty).                                                                       



______________________________                                                  
Sergei Kusonski                                                                 
Member of the Management Board                                                  
AS Silvano Fashion Group                                                        
Tel +372 6 818 050