Neil Cooper, Bankruptcy Administrator of BAB bankas SNORAS (bankrupt), today confirms that a preliminary agreement has been reached over the sale of Snoras Media shares.  The transaction will complete once the necessary approvals from the Competition authorities have been obtained and other closing conditions have been fulfilled.

100 % shares of  JSC "Snoras Media" will be sold to JSC "BIG group", a fully owned subsidiary of JSC "Fragrances International".  Further details will be provided once the Competition Council clearance and other preconditions are met, and sale completes.

Commenting on the sale process, Neil Cooper, Bankruptcy Administrator said:
"We are pleased to announce that we have agreed terms with JSC "BIG group" and will continue to work hard to ensure the transaction will close as quickly as possible".

About "SNORAS Media"
 "SNORAS Media" was established in 2009. On 9 July 2009 JSC "SNORO Media" (formerly - JSC "SNORO Media investicijos") concluded an agreement on purchasing 34% of shares of "Lietuvos rytas", one of Lithuania's largest media groups. The deal was completed on 5 January 2010. JSC "SNORAS Media" is now the largest single shareholder of JSC "Lietuvos rytas".
 The "Lietuvos rytas" group publishes the daily newspaper "Lietuvos rytas" and the weekly magazine "TV antena". It also manages the internet news portal www.lrytas.lt and the "Lietuvos rytas" television channel.  The "Lietuvos rytas" group also controls the largest printing house in Lithuania which prints popular Lithuanian newspapers and magazines and provides printing services to third parties.
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