For acquisition of pharmacies “Olainfarm” used bank financing

2/9/2012 1:13 AM EST

Olainfarm
Company Announcement

For acquisition of pharmacies “Olainfarm” used bank financing

In order to finance recent purchases of pharmacies AS "Olainfarm" has taken a
loan of 4.2 million lats (6 million euros)  from AS „SEB Banka”.  These funds
were used to purchase 100% shares in companies „Ilmas Aptiekas”, „Inula Farma”,
"Juko 99", "Lege Artis Riga" and "Veritas Farm”.  A commercial pledge worth
6.32 million lats was taken by the bank in order to secure the said loan. AS
"Olainfarm" currently owns 30 pharmaceutical retail points of sale in Riga, its
agglomeration, Vidzeme, Kurzeme and Latgale.  Companies purchased by Olainfarm
also own 3 licenses for pharmaceutical retail. AS “Olainfarm” plans to manage
40 pharmacies all over Latvia before the middle of 2012. 

Olaine, February 8, 2012, 2012-02-09 07:13 CET (GLOBE NEWSWIRE) -- In November
AS “Olainfarm” purchased 100% shares in SIA “Ilmas aptiekas” and SIA “Juko99”.
These companies combined own 18 pharmaceutical points of sales in Riga, its
agglomeration, Vidzeme and Kurzeme.  In December AS “Olainfarm” purchased four
more companies thus adding 12 more pharmacies. 

 Intentions of AS “Olainfarm” to create its chain of pharmacies were announced
in May 2010.  Plans of “Olainfarm” provide that total sales of pharmacies
already purchased will reach 7 million lats (10 million euros). 



AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with
nearly 40 years of experience in production of medication and chemical and
pharmaceutical products. A basic principle of company's operations is to
produce reliable and effective top quality products for Latvia and the rest of
the world. Products made by the Group are being exported to more than 30
countries of the world, including the Baltics, Russia, other CIS, Europe, Asia,
North America and Australia. 




         Information prepared by:
         Salvis Lapins
         Member of the Board
         AS Olainfarm
         Cell: +371 26448873
         e-mail: