Snaige AB

Company event



Decisions of the AGM



The annual general meeting of shareholders held on April 27, 2005 passed the

following decisions:

1. To approve the Report of the board of Snaige AB on the operation of the

company in 2004.

2. To approve the audited financial statements for 2004, prepared in compliance

with the Lithuanian Business Accounting Standards and International Reporting

Standards, as well as the consolidated Annual Report for 2004.

3. To approve the 2004 profit appropriation:

The share of profit allocated to the reserve for the acquisition of own shares -

LTL 10.000.000;

the share of profit allocated to investment and other reserves - LTL 16.588.000;

the share of profit for the payment of dividends - LTL 1.384.224;

and the share of profit for the payment of annual bonuses - LTL 1.200.000.

To pay the dividends in the amount of LTL 0.06 per share in accordance with the

procedure prescribed by law at the pay office or according to the request 

transfer the dividend to the personal account.

The shareholders who own the shares at the end of this day will be entitled to

dividends.

4. To adopt a decision to buy out own shares.

To buy out ordinary registered shares of Snaige AB worth LTL 1 by nominal value

(ISIN code LT 0000109274) by means of a voluntary tender offer in accordance

with the procedure prescribed by legal acts regulating securities market and

execute the said tender offer on the Vilnius Stock Exchange;

The purpose for the acquisition of the shares is to maintain and increase the

price of the company's shares;

To buy out up to 10 percent of the company's shares in the national securities

market for LTL 10 000 000 (ten

million), i.e. this is the share of profit allocated to the reserve for the

acquisition of own shares;

The Company will buy shares till October 27, 2006;

The maximum and minimum acquisition price: the minimum buying price of the

shares is LTL 14, the maximum buying price of the shares is LTL 22;

The minimum selling price of own shares is LTL 14 per share.

To ensure equal opportunities for all shareholders to buy the shares of the

company. The company's own shares bought by the company will be traded only on

the Vilnius Stock Exchange.

To authorize the Board of the company to establish and decide on the specific

conditions and terms of the voluntary tender offer, the volumes and prices of

the shares to be acquired, and the selling prices and conditions of the shares.

All other issues, which are not provided for in this decision shall be delegated

to the Board of the Company.

5. The notice is not confidential.





Mindaugas Sestokas

Executive Director

(+370 315) 56206