SFG: NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

AS Silvano Fashion Group (register code 10175491, address Tartu mnt 2, 10145,
Tallinn) („SFG“) hereby calls the extraordinary general meeting of shareholders
on 6 October 2008, at 12.00 at Akadeemia tee 33, Tallinn. 

The agenda of the extraordinary general meeting will be the following:

1.	Procedural matters;
2.	Authorisation for buyback of own shares.

Authorisation for buyback of own shares

The Supervisory Board of SFG proposes the extraordinary general meeting to
authorise the buyback of SFG's own shares under the following conditions: 

1.	SFG is entitled to to buy back its own shares within one year as of the
resolution of the general meeting of the shareholders; 
2.	The total nominal value of own shares to be bought back by SFG may not
exceed 10% of total share capital of SFG; 
3.	The maximum price payable by SFG for one share will be EUR 3.50 (three Euros
and fifty cents); 
4.	The maximum amount payable by SFG for its own shares is EUR 3,000,000 (three
million Euros). 
5.	Own shares will be paid for with assets exceeding the share capital,
compulsory reserves and share premium. 

The description of the proposed share buy-back programme is published
simultaneously with this announcement. 

* * * * *

The list of shareholders having the right to vote at the general meeting will
be fixed on 25 September 2008 at 23.59. Registration for the meeting shall
start at 11.00 on the day of the meeting at Akadeemia tee 33, Tallinn. To
participate in the meeting, a representative of a shareholder that is a legal
person is requested to submit documents evidencing his/her representation
rights, i.e. a member of the management board of a legal person will have to
submit a copy of the Commercial Register registration card, and an authorised
representative will have to submit a power of attorney issued by the management
board or a body replacing the management board together with a copy of the
Commercial Register registration card. The representative shall also submit an
identity document. 

We kindly ask a shareholder who is a natural person to submit an identity
document and a representative is also requested to submit a power of attorney. 



Management Board of AS Silvano Fashion Group