20 May 2010

Investment Company Sava Invest In Liquidation Proceedings

Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and relevant legislation, Sava Reinsurance Company d.d., Dunajska 56, 1000 Ljubljana, hereby announces the following:

In accordance with Articles 106 and 386 of the Financial Instruments Market Act (Official Gazette of the Republic of Slovenia, no. 67/2007) relating to the publication of regulated information, Sava Reinsurance Company d.d. hereby announces that on 13 May 2010, the General Meeting of Shareholders of the fund management company Sava Invest a.d., with registered office at Partizanski odredi br. 43b/1-03, Skopje, Macedonia, passed a resolution to initiate voluntary liquidation. By this resolution, Sava Invest a.d. is in liquidation as of 14 May 2010.

This information will be available on the website of Sava Reinsurance Company, d.d. at www.sava-re.si, as from 20 May 2010 at least five years from the date of the announcement.

The Management Board