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The management company of numerous Polish open-ended funds Pioneer Pekao Investment Management SA notified the management board of AS Silvano Fashion Group (hereinafter SFG) of increase of its shareholding in SFG up to 5.215%. The different funds managed by Pioneer Pekao Investment Management SA hold altogether 2,085,893 shares of SFG, representing 5.215% of the entire issued share capital of SFG and votes entitled to vote at the general meeting of shareholders. 5.208% of the shareholding referred to above, i.e. altogether 2,083,003 shares are held by the funds managed by Pioneer Pekao Investment Management SA Pioneer Balanced Open-end Investment Fund (Polish name Pioneer
Zrównoważony Funusz Inwestycyjny Otwarty), Pioneer Polish Equity Open-end Investment Fund (Polish name Pioneer Akcji Polskich Fundusz Inwestycyjny Otwarty), Pioneer Stable Growth Open-end Investment Fund (Polish name Pioneer Stabilnego Wzrostu Fundusz Inwestycyjny Otwarty), Pioneer Small and Medium
Companies of the Polish Market Open-end Investment Fund (Polish name Pioneer Małych i Średnich Spółek Rynku Polskiego Fundusz Inwestycyjny Otwarty), Pioneer Medium Companies of the Polish Market Open-end Investment Fund (Polish name Pioneer Średnich Spółek Rynku Polskiego Fundusz Inwestycyjny Otwarty) and Polish Telecommunication Dedicated Specialized Open-end Investment Fund (Polish
name Specjalistyczny Fundusz Inwestycyjny Otwarty Telekomunikacji Polskiej).

The shareholding of Pioneer Pekao Investment Management SA in SFG was increased
over 5% of the entire issued share capital of SFG and votes entitled to vote at
the general meeting of shareholders as a result of a transaction closed on 7
December 2007, whereas additional 100,000 shares of SFG were acquired. Pioneer
Pekao Investment Management SA become aware of the increase of its shareholding
over 5% on 17 December 2007. Before the above referred transaction was closed
the shareholding of the funds managed by Pioneer Pekao Investment Management SA
in SFG was altogether 4,965%, i.e. the funds managed by Pioneer Pekao
Investment Management SA held altogether 1,985,893 shares of SFG.

Sergei Kusonski
AS Silvano Fashion Group
member of management board
Tel +372 6 710 700

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