Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and relevant legislation, Sava Re d.d., Ljubljana announces the following:

Sava Re received from the Ljubljana District Court (Okrožno sodišče v Ljubljani) an action challenging a GM resolution. The action was filed on July 24, 2009 by the shareholder Dr. Edo Pirkmajer, upravljanje d.o.o., komanditna družba, Cesta na Rožnik 19, Ljubljana, and challenges the resolution adopted under agenda point 4 ("Nomination of the Members of the Supervisory Board") adopted on July 3, 2009 at the 22nd regular General Shareholders Meeting of Sava Re. Sava Re will respond to the action within the prescribed time limit.

This announcement will also be available on the Company's website at www.sava-re.si, at least five years from the date of the announcement.

The Management Board