Conditional admission of Agrowill Group AB shares to the Vilnius Stock Exchange Main List

17.03.2008 VLN

On March 17, 2008, the Management Board of the Vilnius Stock Exchange (VSE) has decided to admit shares of Agrowill Group AB to the VSE Main List provided that by April 1, 2008, the company fulfils the conditions set by the Board of the VSE, to ensure full compliance with the requirements stipulated in the VSE Rules.

“AB „Agrowill Group“ IPO and listing on the Vilnius Stock Exchange has been awaited by market participants and investors. We wish the issuer big success with public offering and look forward to a good start on the Baltic Main List”, said Arminta Saladziene, Chairman of the Management Board of the Vilnius Stock Exchange.

The company’s shares must be distributed to the public to the extent of at least 25% of the authorized capital represented by that class of shares. Provided the conditions set by the Board of the VSE are fulfilled, shares of Agrowill Group AB will be listed on April 2, 2008, which will be the first trading day.

After significantly expanding the crop fields and increasing the dairy production capacity the Company plans that in 2008 the consolidated revenues from main activities will grow by 36 per cent and reach LTL 58 million (EUR 16.80 million), while EBITDA will grow by 46 per cent to LTL 23 million (EUR 6.66 million). Forecasted net result for the year amounts to LTL 11.5 million (EUR 3.33 million) – a 20 per cent increase as compared to 2007.

The unaudited revenues of agricultural investment and management Company and its subsidiaries Group in 2007 (without taking into account the revaluation of Investment property according to TFAS) amounted to LTL 43 million(EUR 12.45 million) and were 57 per cent higher than in 2006. The Net profit from agricultural operations in 2007 grew more than 3 times and amounted to LTL 9.8 million (EUR 2.84 million).