SFG: NOTICE ON CONVENING EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

Aktsiaselts Silvano Fashion Group (register code 10175491, registered address
Akadeemia tee 33, Tallinn) convenes an extraordinary general meeting of
shareholders on 5 March 2010 at 11:00 in Reval Hotel Olümpia (Liivalaia 33,
Tallinn) in conference room “Epsilon” located on the 2nd floor of the hotel. 

The agenda of the extraordinary general meeting of shareholders is the
following: 
1. Removing members of supervisory board;
2. Electing new members of supervisory board.

The supervisory board of Aktsiaselts Silvano Fashion Group (hereinafter SFG)
approved the agenda of the extraordinary general meeting submitted by the
shareholder who requested the convening of the extraordinary general meeting
and makes the following proposals to the shareholders: 

1. Removing  members of supervisory board

The supervisory board of SFG makes a proposal to the extraordinary general
meeting of SFG to vote for the proposals made by the shareholders at the
meeting regarding the removal of members of supervisory board. 

2. Electing new members of supervisory board

The supervisory board of SFG makes a proposal to the extraordinary general
meeting of SFG to vote for the proposals made by the shareholders at the
meeting regarding the election of members of supervisory board. 

The list of shareholders with the right to vote at the extraordinary general
meeting is fixed on 26 February 2010 at 23.59. The registration for the meeting
starts on the day of the meeting at 10:30 in Reval Hotel Olümpia (Liivalaia 33,
Tallinn) in conference room “Epsilon” located on the 2nd floor of the hotel.
For participating in the meeting we ask the legal representatives of
shareholders who are legal persons to present documents proving the right of
representation, which in case of a member of the management board is the
transcript of the commercial register registry card, in case of authorised
representative the authorisation document issued by the management board or the
body substituting the same together with the transcript of the registry card.
At the same time the representative must submit the identity document. The
shareholder who is a natural person must present the identity document and the
representative must also present the authorisation document. A shareholder may
notify SFG of the nomination of a representative (and of withdrawal of the
authorization) prior to the date of the meeting electronically by e-mail to
info@silvanofashion.com, provided that the document containing such information
is digitally signed. 

The materials concerning the general meeting, including this notice on
convening the extraordinary general meeting, draft resolutions, data about the
total number of shares and voting rights attached to the shares, and
information about the procedure and terms for execution of the rights
stipulated in Articles 287, 293 (2) and (2¹) and 293¹ (3) and (4) of the
Commercial Code, is available on the webpage of SFG at www.silvanofashion.com.
The draft resolutions of the general meeting are also available at Akadeemia
tee 33, Tallinn, on working days from 9:00 until 17:00. Questions regarding the
agenda items of the general meeting can be posed by e-mail to
info@silvanofashion.com or by telephone to +375 172880770. 

Dmitry Ditchkovsky 
Chairman of the management board of Aktsiaselts Silvano Fashion Group