A few days ago, two employees of Sava Tabak, Skopje, were detained. Sava Tabak is a member of the Sava Re Group; one of the detained employees was an executive director of the Company.

Sava Re is publicly announcing that the above fact is in no way related to the operations of the Macedonian insurer Sava Tabak or any other member of the Sava Re Group. The situation arose due to alleged activities of certain individuals at the time prior to Sava Re's entry into the Macedonian market. The Sava Re Management Board is looking closely at developments and is focused on the continued operations of Sava Tabak. The Management Board is ensuring that the Macedonian subsidiary will continue operating in an undisrupted manner. Over recent days, we have been in contact with major business partners in the Macedonian market who continue placing their trust in Sava Tabak and the Group.

The Management Board