SNAIGE

MATERIAL EVENT



REGARDING FORMAL SUSPENSION OF SALE OF SHARE BLOCK



At the end of 2000, shareholders of Snaige AB initiated

a formal process for sales of the company’s controlling

block of shares. During April to May, Electrolux and

Antonio Merloni had an opportunity to carry out an

exhaustive analysis of Snaige AB. After the analysis,

the Supervisory Board of Snaige AB established the final

date (31 July 2001) for submission of formal proposals.

Until then, shareholders did not receive any acceptable

proposals, therefore, a formal sales process of the block

of shares for the above stated companies is suspended.

Shareholders reserve a right to continue direct negotiations

with potential strategic investors.





Vygandas Jūras

Chairman of Supervisory Board

8 22 362783