On subsidiaries establishment in Latvia

APRANGA APB	STOCK EXCHANGE RELEASE		11.01.2007

On subsidiaries establishment in Latvia

The leader of retail apparel market in the Baltics Apranga Group
plans to open 8 new shops in Riga, the capital of Latvia, of which
2 ZARA, 2 BERSHKA, and 2 PULL and BEAR shops. Pursuing its goals
APB APRANGA established 2 subsidiaries in Latvia: SIA APRANGA BPB LV
and SIA APRANGA PLV. Each company has share capital of LVL 60
thousand (EUR 85 thousand). Apranga APB controls 100% of the each
company’s capital and voting rights.

Apranga Group retail chain turnover in Latvia totaled LTL 70.7
million (EUR 20.5 million), and has increased 46.6% during the year.
Apranga Group has opened 3 stores in Riga and currently owns 15
stores in Latvia.

Apranga Group is owned by the Concern MG Baltic.

Rimantas Perveneckas
Apranga Group General Manager
+370 5 2390801