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 will participate in the pre-emption offering by Zavarovalnica Maribor with at least the amount Sava Re is entitled to under its pre-emptive right. Currently, Sava Re holds 45.79% of shares of Zavarovalnica Maribor. The time limit for subscribing for new shares of Zavarovalnica Maribor based on pre-emptive rights is 29 October 2009; new share must be paid by 30 October 2009.

Sava Re has been informed of the intention of Nova Kreditna Banka Maribor to participate in the pre-emption offering by Zavarovalnica Maribor. In compliance with the rules of the issuer of new shares as defined in the prospectus, Sava Re also intends to participate in the second round of the equity offering to subscribe for shares available due to any unused pre-emptive right.
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