The Annual General Meeting of shareholders of AS Silvano Fashion Group, held on June 28, 2013, approved the following amendments in the composition of the Supervisory Board of the company. With reference to the end of the tenure of Mr. Pavel Daneyko as of May 23, 2013, the Annual General Meeting decided not to prolong the mandate of Mr. Daneyko and to recall him from the Supervisory Board as of May 24, 2013. The Meeting decided to elect Mr. Mart Mutso as the new member of the Supervisory Board effective from July 1, 2013.

Mr. Mutso has been working on different managerial posts of production companies. During last three years, Mr. Mutso has served as the board member of a production company AS Printtare in Estonia.