Pursuant to Article 112 of the Financial Instruments Market Act (Official Gazette of the Republic of Slovenia no. 67/07 including amendments), the Management Board of Sava Reinsurance Company d.d. Ljubljana, with registered office in Ljubljana, Dunajska 56, 1000 Ljubljana, hereby publishes the Unaudited Semi-annual Report of Sava Re d.d. and the Sava Re Group for the period from 1 January to 30 June 2009 in the Slovenian language. Attached hereto are the semi-annual report in the Slovenian language and the financial statements translated into English. This announcement in the English language is for information purpose only. The full translation of the Unaudited Semi-annual Report of Sava Re d.d. and the Sava Re Group will be published in due course.

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