On 25 August 2009, the second Supervisory Board meeting was held. 

At its second session held on 25 August 2009, the Sava Re Supervisory Board was presented 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. For the six month period to 30 June, the Company reports a net loss of EUR -6.5 million, while the net loss for the six month period to 30 June 2009 for the Sava Re Group totals EUR -15.1 million. The reason for the loss of Sava Re is the poor financial result of its associated company Zavarovalnica Maribor, d.d., which reported an interim net loss for the year of EUR 20.2 million.

Upon the suggestion of its Audit Committee, the Supervisory Board agreed several amendments to the semi-annual report. The Company will publish the semi-annual report as soon as the proposed amendments are incorporated.

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.

Branko Tomažič
Chairman of the Sava Re Supervisory Board