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

Yesterday, on 15 December 2009, Sava Reinsurance Company was notified by Zavarovalnica Maribor that on 7 December 2009, the District Court of Maribor entered the increase in the share capital of Zavarovalnica Maribor based on the stock offering carried out on 30 October 2009.

Upon the decision on the entering of the increase in share capital into the Court Register becoming final, the put option contract on "new" shares of Zavarovalnica Maribor acquired by Pozavarovalnica Sava entered into force, the contract being made between Pozavarovalnica Sava and Nova KBM on 23 October 2009. The subject of the put option contract is the right of Sava Reinsurance Company to sell Zavarovalnica Maribor shares, however, up to the number of shares acquired in the stock offering. Sava Reinsurance Company may exercise its right to sell from 1 April 2010 up until three years after the registering of ownership on the shares.
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