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OMX Baltic Benchmark Gross Index

16/04/201220/04/2012

The OMX Baltic Benchmark Gross Index (OMXBBGI) gained 5.38 points over

week 16, closing at 485.38. The 1.10% gain from its opening value of 480.0 is ahealthy rate, as the index has been growing for most of the year. Year to date the

increase has been by 12.37% (from 431.94), and there are currently little signs of it

turning around, since most of the Baltic countries are slowly but surely coming back

to a more positvie outlook.

OMXBBGIdevelopment, April 16, 2012April 21 2012. Source: www.nasdaqomxbaltic.com

OMXBBGI development, January 1, 2012April 21 2012. Source: www.nasdaqomxbaltic.com

Top 3 gainers in OMX Baltic: City Service AB (CTS1L) + 7.72%; Olympic

Entertainment Group (OEG1T) + 6.32%; LESTO (LES1L) + 5.09%.

Top 3 losers in OMX Baltic: Utenos trikotazas (UTR1L)11.02%; Sanitas

(SAN1L) - 5.47%; Apranga (APG1L)5.19%.

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City Service AB (CTS1L), a holding which controls facility management,

maintenance, waste management companies in Lithuania and other countries, was the

biggest winner in week 16. Companys share value increased by + 7.72%. The

increase was due to strong financial statements which company presented in 9th

of

April and upcoming shareholders meeting. In the meeting, the sum of dividends has tobe approved.

Revenues havent grown significantly during financial years 2010 and 2011, but the

company has been very efficient:

ratio has decreased from 83.15% to

79.33%; thus, companys net profit has grown from 32.37 million EUR to 37.31

million EUR.

CTS1L share price trend, April 16 2012April 20 2012. Source: www.nasdaqomxbaltic.com

Tallink Grupp

Tallink (TAL1T) has been on a rally since the start of the year, and this week is no

exception. Over the week the maritime transporters stock gained 3.77% from its

opening price of EUR 0.636, and closed at EUR 0.66 on Friday. This has been the

longest rally of TAL1T since 2010 and for this week it has outperformed the

OMXBBGI.

TAL1T share price trend, April 16, 2012April 21 2012. Source: www.nasdaqomxbaltic.com

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Such movements in the share price can be explained in part by the healthy financial

indicators of Tallink Groupp, but the current rally is most likely amplified by the

slowdown and decrease in oil prices which translates to lower operating costs for the

company.

The upwards trend in OMXBBGI is expected to continue, because GDP in the Baltic

grew in 2011 and is expected to increase also in 2012 (significant growth in Estonia:

+ 7.6%). Industry production index in Latvia and Estonia had increased in January

and February in 2012; however, it decreased in February in Lithuania by - 3.1%, but

overall situation in the Baltic shows that industry excluding construction is

recovering. European Union has experienced a significant decrease in construction

output, which is down by 3.7% comparing February 2012 and January 2012. But all

in all the expectations in the OMX Baltic market are positive and an increase is

expected in week 17.

Toms Andersons, Uldis Boldans, Einars Garoza, Darya Skakouskaya.