I

Pioneer Pekao Investment Management SA (PPIM), notified the management board of AS Silvano Fashion Group (SFG) of the decrease of its votes in SFG to 9.56%. The latter percentage represents the share resulting from total holdings in all portfolios belonging to PPIM Clients which are managed by PPIM. All PPIM clients hold a total of 3 775 432 shares of SFG, representing 9.56 % of the share capital of SFG and the votes entitled to vote at the general meeting. Before the transaction, PPIM Clients held 4 207 327 shares. The decrease was a result of the sale of 431 895 shares on August 10, 2011.

II

In addition PPIM as a management company of several Polish open-end funds, notified the management board of SFG of the decrease of the votes of the investment funds established by Pioneer Pekao Investment Fund Company in SFG to 8.96%. The different funds managed by PPIM hold altogether 3 538 410 shares in SFG, constituting 8.96% of the share capital of SFG and the votes entitled to vote at the general meeting. Before the transaction, the funds held a total of 3 970 305 shares in SFG. The aforementioned shares belong to the portfolios of the following investment funds managed by PPIM:

1. Pioneer Open-End Investment Fund (Pioneer Fundusz Inwestycyjny Otwarty);
2. Polish Telecommunication Specialised Open-End Investment Fund (Specjalistyczny Fundusz Inwestycyjny Otwarty Telekomunikacji Polskiej).

Märt Meerits
Member of the board
+372 6845 000
This e-mail address is being protected from spambots. You need JavaScript enabled to view it