Gubernija AB Notification on material event 11.05.2012

Regarding the Decision of the Director of Supervision Service of the Bank of
Lithuania

Siauliai, Lithuania,, 2012-05-11 14:38 CEST (GLOBE NEWSWIRE) --
By the decision No 241-12 “On the Case of Infringement of Gubernija AB” dated
on 9 May 2012 of the Director of Supervision Service of the Bank of Lithuania,
the company Gubernija AB, legal code 144715765 (hereinafter - Company) is
obliged to make public the information about a substantial event - the
decision adopted by the Bank of Lithuania with regard of the Act of Inspection
of 22 December 2011, by stating that the Financial Statements of Gubernija AB
for the year 2010 do not comply with the requirements of the Article 27
“Presentation of Financial Statements” of IAS 1, the Article 33 “Inventories”
of IAS 2, the Article 55 “Property, Plant and Equipment” of IAS 16, the Article
9 “Depreciation of Assets” of IAS 36 and the Articles 14 and 63 “Financial
Instruments: Recognition and Measurement” of IAS 39, as well as the information
provided in the explanatory notes and the Company's accounting policy, under
which the Company prepares the financial statements, do not comply with the
international accounting standards.

The Company disagrees with the conclusions of the decision and will appeal
against them.





AB „Gubernija“
General Manager
Vijoleta Dunauskiene
+370-41-591900

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