AS Silvano Fashion Group (previous business name PTA Grupp AS, registry code 10175491, address Tartu road 2, Tallinn, 10145; hereinafter: the “Company”) hereby notifies that the division of the Company by establishing a new subsidiary with business name PTA Grupp AS (registry code 11405208, registered address Akadeemia tee 33, Tallinn, 12618) has been registered in the Estonian Commercial Register on 29 August 2007. As a result of the division, part of the Company's assets were transferred to its subsidiary PTA Grupp AS pursuant to the division plan approved on 31 May 2007 by the extraordinary general meeting of shareholders. The assets transferred to PTA Grupp AS comprised the enterprise engaged in the development of the “PTA” concept and the production of women's apparel. The division of the Company was part of the restructuring plan of the Company, which has been previously published to the shareholders of the Company. The strategy of the new group entails centralised management of the group's main processes, which will be carried out at the level of holding company listed in Tallinn Stock Exchange and the Warsaw Stock Exchange. Grouping the strategic management functions to the level of a listed holding company ensures better transparency and higher effectiveness of the management structure. These changes in the group's structure will not affect its economic activities and the interests of its shareholders. Peeter Larin Member of the Management Board AS Silvano Fashion Group (previous business name PTA Grupp AS) Tel +372 6 710 700