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19 July 2013

Payment of the difference from the takeover price to the accepting parties in the process of takeover of Zavarovalnica Maribor

Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and applicable legislation, Pozavarovalnica Sava, d.d., Ljubljana ("Sava Reinsurance Company" or "Company") hereby announces the following:

In accordance with Article 17(3) of the Takeover Act, Sava Reinsurance Company ("offeror") today paid the difference from the takeover price to the accepting parties in the process of takeover of Zavarovalnica Maribor ("offeree").

In accordance with the takeover bid of 23 May 2013, the price offered by the offeror was € 10.24 per share. On 12 July 2013, the Company exercised its call option to buy shares of Zavarovalnica Maribor from the Slovenian Restitution Fund at the price of € 10.4919 per share. In accordance with the Takeover Act, the offeror shall pay the accepting parties the difference in price, in cash, within eight days following such acquisition.

This announcement will be available on the Company's website at www.sava-re.si, at least five years from the date of the announcement.