Snaige AB

Company event



Audited results of operation for 2004 and planned investments for 2005



Snaige (Alytus):

Turnover - LTL 313542 thousand, pre-tax profit - LTL 30088 thousand, Net profit

- LTL 25528 thousand, EBITDA - LTL 45410 thousand;

TPI:

Turnover - LTL 44228 thousand, pre-tax profit (loss)- LTL (4552) thousand, net

profit (loss) - LTL(4552.0) thousand, EBITDA -LTL (-1.000) thousand;

Moroz trade:

Turnover - LTL 25030 thousand, pre-tax profit (loss) - LTL (26.2) thousand, net

profit (loss) - LTL (31.4) thousand;

Snaige the Ukraine:

Turnover - LTL 3230 thousand, pre-tax profit (loss)- LTL(22) thousand, net

profit(loss) - LTL (23.4) thousand;

Consolidated:

Turnover - LTL 297013 thousand, pre-tax profit - LTL 18419 thousand, Net profit

- LTL 15084 thousand, EBITDA - LTL 35304 thousand.



According to the audited data for 2004, the consolidated turnover of Snaige AB

amounted to LTL 297 million, and consolidated net profit equaled LTL 15.1

million (EBITDA - LTL 35.3 m).

As a result of negative changes in exchange rates and investment related to the

expansion of trade and marketing in Russia, the consolidated net profit was

markedly influenced by the performance of the subsidiary 000 "Techprominvest"

(TPI). During the first quarter of 2005 the company plans to sell about 26000

units of household refrigerators, whereas in 2004 such sales amounted to 47527

units. In order to enhance efficiency of production, improve sales and

marketing, Snaige AB plans to invest from LTL 18 to LTL 29

million in 2005. The final sum will depend on the amount of receipts from the EU

structural funds.





Giedrius Barysas

Chaiman of the Board

(+370 315) 56206