For the attention of shareholders of „SAF TEHNIKA" JSC

The Board of Directors of "SAF Tehnika" JSC (Reg.No.40003474109, legal address: 24a, Ganibu dambis, Riga, LV-1005, Latvia) informs that it convenes an extraordinary shareholders' meeting on 21st January 2009 at 11.00 a.m., at "SAF Tehnika" JSC administration conference room (24a, Ganibu dambis, Riga, Latvia).

Agenda:
1. Decision on reduction of equity capital of the company buying out and cancelling company's stock.
2. Approval of the general terms of stock buy-out.
3. Authorization for the Board of Directors to perform all necessary actions for the buy-out of company's stock observing the general terms of stock buy-out and laws in force.

Registration of participants will take place at the venue on the day of the meeting - 21st January 2009 - from 10.30 a.m. until 11.00 a.m.

Shareholders can participate personally or delegate a representative.

Shareholders who have blocked their shares have to present passport or other verifying document to register.

Representatives of shareholders have to show legally binding power of attorney of the shareholder and passport or other verifying document to register. The template of the power of attorney is available in the webpage of "SAF Tehnika" JSC.

Every shareholder, who wants to participate in the meeting, has to block his shares by the 14th of January 2009.

Proposals regarding the agenda of shareholders meeting can be submitted from 7th of January 2009 at the Administration of JSC SAF Tehnika (24a, Ganibu dambis, Riga, Latvia) every business day from 9.00 a.m. until 5.00 p.m., but on the day of the meeting - at the place of registration - JSC "SAF Tehnika" administration conference room (24a, Ganibu dambis, Riga, Latvia). Draft resolutions of the meeting will also be available from the 7th January 2009.

Aira Loite
CFO
+371 67046833

Aira.Loite@saftehnika.com

On December 3, Riga Stock Exchange announced the winners of "The Baltic Market Awards" recognizing the best practices in investor relations. JSC "SAF Tehnika" was declared the best in three categories: "The Best Investor Relations in the Baltic countries", „The Best Investor Relations in the Baltic countries among Small Cap Companies" and "The Best Investor Relations in Riga Stock Exchange".

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Aira Loite

CFO
+371 67046833

Aira.Loite@saftehnika.com

The attachment contains the yearbook of JSC "SAF Tehnika" from FY 2007/08.

annualreport07-08_book.pdf 

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

JSC "SAF Tehnika" informs that it has established a joint company in Russian Federation under the name of "SAF Tehnika RUS" Ltd (САФ Техника РУС OOO) and Russian company named "Мобильные технологии" OOO is its co-founder. JSC "SAF Tehnika" owns 51% of the shares of "SAF Tehnika RUS" Ltd. The aim of establishment of "SAF Tehnika RUS" is to increase the sales of JSC "SAF Tehnika" products within Russian Federation, as well as the improvement of services which JSC "SAF Tehnika" provides for its clients.

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

Agenda and draft resolutions of the shareholders meeting of "SAF Tehnika" JSC are supplemented with item No.8 (attachment).

saf_sharehold.meet_draftresolutions07-08_eng.doc 

announcement_fktk&omx_supplement_eng.doc

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

JSC "SAF Tehnika" Interim Report for 3 months of FY 2008/09 in the attachment.

3M_01_07_08-30_09_08_en

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

On 30th of October, 2008 JSC “SAF Tehnika” signed an agreement No. L-AKA-08-0004 (project No. AKA/1.3.1.1.4/08/01/044) with the state institution “The Investment and Development Agency of Latvia” about cofinancing the project - “Raise of qualification of JSC "SAF Tehnika" employees”. The total costs of the project - 39.8 thousand LVL.

The project of “SAF Tehnika” envisages the raise of proficiency of forty employees in different fields during next eight months. It is intended to facilitate the ability of “SAF Tehnika” to export its products worldwide and to gain new skills within the realm of innovative business.

It is planned to provide training within three groups. Within the realm of business and export development there will be provided the following courses - "Business class", "Planning of strategic development of an enterprise", "Administration of production planning and provision of technical support within large telecommunication projects".

The improvement of professional skills of engineers as to the sphere of information and telecommunication technologies will take place involving foreign experts within the courses - "Elaboration of RF and microwave scheme: applications and theory" and "Elaboration of RF systems and simulation".

Particular attention will be paid to acquisition of new skills within the sphere of finance and accounting, as well as to language skills, which allow increasing the amounts of trade with new clients. Within this group courses like "Standards of international accounting", "IFRS - standards of International financial reports" and "Business English" will be organized.

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

The project is co-financed by:

Today, on the 31st of October 2008, the international contest of ideas organized by SAF Tehnika has ended. The aim of the contest was to acquire the ideas for extension SAF products range by addressing those technical specialists and students with creative and innovative ideas but no means to fulfil them.

The contest was announced on the 1st of September 2008 in Latvia and Sweden. It was possible to submit the ideas till the 30th of September, and in total 5 applications were received. The contest evaluation board revised all the applications, but, unfortunately, none of the projects qualified to be implemented in SAF Tehnika production.

SAF Tehnika expresses gratitude to all the authors of ideas and guarantees that no single submitted project is conveyed to public or any other third party.

For additional information:

Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

Attachment contains the adjustments (regarding decision No.5) to draft resolutions of shareholders meeting of "SAF Tehnika" JSC.

saf_sharehold.meet_draftresolutions07-08_eng.doc 

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

Attachments contain consolidated and non-consolidated annual reports of "SAF Tehnika" JSC from FY 2007/2008

annualreport07-08_unonsolidated_eng.pdf 

annualreport07-08_consolidated_eng.pdf 

Attachment contains Report on Corporate Governance from "SAF Tehnika"JSC for FY 2007/2008.

saf_cg_principles_report07-08_eng.pdf 

Financial results of respective period mentioned in the draft resolutions are not approved by auditors at the moment. Evaluation of the offers placed by auditors for FY 2008/2009 will be made till 30th October 2008.

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

Board of directors of Joint Stock Company „SAF Tehnika" (Reg.No.40003474109, registered address at: 24a, Ganibu dambis, Riga, LV-1005. Latvia) announces that the annual shareholder meeting shall take place on 19th November 2008 at 11:00 a.m. at JSC "SAF Tehnika" administration conference room (24a, Ganibu dambis, Riga, Latvia).

Agenda:
1. Approval of report of the Board of Directors and the Supervisory Council;
2. Approval of the annual report and release of the Board of Directors from
responsibility for financial year 2007/2008;
3. Amendments to the Articles of Association;
4. Election of the members of Revision Committee and determination of the
amount of remuneration;
5. Covering of losses by undivided profit from previous periods;
6. Retaining the part of undivided profit from previous periods as retained earnings;
7. Appointment of the auditor and determination of the amount of remuneration.

Registration of shareholders for the meeting shall take place on the day of the meeting - the 19th November 2008 - from 10.30 a.m. until 11.00 a.m. at the place of the meeting.

Shareholders can participate personally or delegate a representative.

Shareholders who have blocked their shares have to present passport or other verifying document to register.

Representatives of shareholders have to show legally binding power of attorney of the shareholder and passport or other verifying document to register.The template of the power of attorney is available in the webpage of JSC “SAF Tehnika”.

Every shareholder, who wants to participate in the meeting, has to block his shares by the 10th of November 2008.

Draft resolutions of the meeting and other documents are available in the attachments hereto.

annexstockexchange.doc 

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

Today, on 1st of September, the company "SAF Tehnika" announces international contest of ideas to acquire new ideas for extension of SAF product range. The contest is announced in Latvia and Sweden where the subsidiary "SAF Tehnika Sweden" is located. Technical specialists and students with creative and innovative ideas are invited to enter the contest. If You have an idea but no resources for implementation, the contest is Your chance. The author/-s of the best idea will not only be awarded with prize but also have the possibility to see his/her idea's implementation in production.

SAF Tehnika designs and produces wireless microwave radio equipment for data and voice communication. The equipment is manufactured in Latvia but sold worldwide. "SAF Tehnika" products provide wireless backhaul solutions for digital voice and data transmission to mobile and fixed network operators, data service providers, as well as governments and private companies. In a few years the company has grown rapidly and so has the production capacity. To take advantage of this unutilized production capacity it was decided to make a contest to learn ideas for production of new products.

"By announcing the contest we want to encourage generating creative ideas and also implementing them in production, if any idea is considered to be useful and suitable for the company. The contest gives the chance to technical specialists with wonderful ideas but no means to fulfill them," explains Aira Loite, CFO of SAF Tehnika.

The award - LVL 2000. The rules of the contest are published in SAF Tehnika web page www.saftehnika.com. The ideas should be submitted via e-mail contest@saftehnika.com or by post with reference: „Contest" till 30th of September (post stamp). The submitted ideas will be evaluated in a month time - till 31st of October when the winner will be announced and the information published in SAF web page.

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

JSC "SAF Tehnika" financial results of quarter 4 and 12 month of FY 2007/08 (July 1, 2007 - June 30, 2008) in the attachment.

12m_01-07-07-30-06-08_eng.pdf 

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

JSC "SAF Tehnika" financial results of quarter 4 and 12 month of FY 2007/08 (July 1, 2007 - June 30, 2008) in the attachment.

12m fy08_saf_results eng.pdf 

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

JSC "SAF Tehnika" consolidated interim report on 9 month of FY 2007/08 (July 1, 2007 - March 31, 2008) in the attachment.

9m fy08_saf_results eng.pdf 

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

JSC "SAF Tehnika" consolidated interim report for 6 month of financial year 2007/08 (from 1 July, 2007 to 31 December, 2007) in the attachment.

6m fy08_saf_results.pdf 

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com

AS „SAF Tehnika" hereby informs that on January 2, 2008 it has received information from AS "Hansabanka" that AS "Hansa Investeerimisfondid", which manages fund „Hansa Ida-Euroopa Aktsiafond", has lost the relevant vote within AS „SAF Tehnika" by alienation of shares. Accordingly, AS "Hansa Investeerimisfondid" currently owns 294119 shares having the right to vote, which correspond to 9.9 % of the AS "SAF Tehnika" share capital having the right to vote.

For additional information:
Aira Loite
SAF Tehnika AS
CFO
Phone: +371 67046840
Mob.phone: +371 29425459
Fax: +371 67046809
e-mail: Aira.Loite@saftehnika.com