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

At its third session held on 23 September 2009, the Sava Re Supervisory Board discussed the capital increase in Sava Re’s affiliate Zavarovalnica Maribor (Insurance Company Maribor). The Supervisory Board was presented the capital increase procedure, and the influence of Sava Re’s participation in the capital increase on Sava Re’s operations. The Supervisory Board supports a possible take-over of Maribor Insurance Company in the process of the capital increase. The Supervisory Board therefore supports the Management Board of Sava Re in further negotiations with the Management Board of the biggest shareholder of Maribor Insurance Company, the Nova Kreditna Banka Maribor.

The Supervisory Board also approved the purchase of a 49% stake in Kosovan Dukagjini Life Insurance Company in which Sava Re already holds the majority. With this decision Sava Re will obtain a complete control over this Kosovan Company.

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