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1 DAILY REPORT Financial market analysis Unit Brokerage Unit Milica Travica Ljiljana Zipovski Srñan Maletić Snežana Spasojević Olivera Glisić FX sales Unit Custody Unit Darko Karanović Vitomir Marić Marija Prebanić Biljana Radosavljević Dragan Ignja FX rate Domestic market International market Currency Previous Change Currency Previous Change EUR % EURUSD % USD % EURCHF % CHF % EURGBP % GBP % GBPUSD % Source: NBS USDJPY % EUR EURUSD Central bank informed us that till 12:3 total amount of trading was 14,6 mil EUR at average rate 111, EUR and USD indicators for current day: Time Country Event Period Previous Forecast!! 18: USD Monthly Budget Statement Mar -$ B -$2.B MM and fixed income Key rate NBS 9.5 Interbank market - Serbia Previous Change bps Source: NBS BEONIA BELIBOR1M T Bills - Serbia BELIBOR3M Maturity Previous Source: Reuters 3 month 11.6% 11.9% 6 month 1.48% 1.48% Major Key rates 12 month 12.5% 12.69% 18 month 13.1% 12.79% ECB 1.% 24 month 13.25% 13.25% FED.25% 36 month 14.89% 14.89% SNB.% 6 month 14.7% 53 week-eur 5.95% Source: Treasury - Ministry of Finance Interbank - World Previous Change bps EONIA.352%.352%. FX Savings Bond - Serbia EURIBOR1M.414%.414%. Yield EURIBOR3M.766%.766%. EURIBOR6M 1.64% 1.64%. A212 98,85 8,46% LIBOR1M (USD).24125%.24125%. A213 94, 5,57% LIBOR3M (USD).46915%.46915%. A214 88, 6,15% LIBOR1M (CHF).7833%.7833%. A215 83,48 5,91% LIBOR3M (CHF).11167%.11167%. A216 77,63 6,3% Source: Belex Note: Interest rates refer to the previous working day 1

2 Equity market SERBIA Previous Change YTD Belex % Belex line 1,5.68 1, % Turnover 18,97,887 Din. 12,248,746 Din % 169,862 19, % Ratios P / B P / E Belex15,54 4, % 2.92% Source: Belex Belex15 42 Belex Line % -.5% -1.% -1.5% -2.% -2.5% -3.% -3.5% -4.% - members of Belex15.%.%.%.%.%.%.% -.72% -.56% -1.19% -1.5% -1.74% -2.4% -3.47% AGBN KMBN JMBN AERO NIIS SJPT IMLK ENHL MTLC UNBN JESV TIGR ALFA VZAS PKS banking committee seeks enabling banks to transfer NPLs owed by legal entities to any interested party. The banking committee at the Serbian Chamber of Commerce (PKS) has proposed that banks be allowed to transfer non-performing loans (NPLs) owed by legal entities to any interested legal entity, not only financial institutions, the committee s chairman Vladimir Cupic said yesterday, Tanjug reported. Serbia s NPL rate is among the highest in the region, and it affects the quality of the banking sector s assets, business results, and lending costs, Cupic said, noting that NPLs accounted for 19.2% of overall lending in the country at the end of 211, up from 16.9% at end-21, 15.7% at end-29, and 11.3% at end-28. For her part, Bojana Mijailovic, head of the National Bank of Serbia s (NBS) bank supervision sector, said that existing factoring regulations seek to prevent selling accounts receivable to a legal entity linked to the debtor or the bank in question, noting that experience has shown that banks in some countries in the region have cleaned up their balance sheets by transferring NPLs to linked entities, which later came back to the banks like a boomerang. (source:executive newsletter) New plant protection system to be fully operational in 6 to 9 days, expected to save farmers up to EUR 3 million a year, agriculture minister says. Serbia s new system of protection against organisms harmful to plants and plant products will become fully functional in the next 6 to 9 days, Tanjug reported yesterday, citing agriculture minister Dusan Petrovic. The new system is expected to reduce losses by EUR 2 million to EUR 3 million on an annual level, said Petrovic, who is also the trade, forestry and water management minister. The government has poured EUR 1.7 million into establishing the system. According to Petrovic, automatic weather stations will be set up across the country, the data from which will be used to instruct farmers on what measures to take to prevent harmful organisms from damaging their plants.(source:executive newsletter) Serbia plans to churn out 12 million tons of mineral raw materials in 212, could double mining revenues to USD 4 billion, official says. Serbia plans to increase its overall production of mineral raw materials to 12 million metric tons this year, Tanjug reported yesterday, citing State Secretary at the Environment, Mining and Spatial Planning Ministry Zlatko Dragosavljevic. At present, Serbia produces 4 million metric tons of coal and 3 million metric tons of other mineral raw materials a year, Dragosavljevic said. Total revenues from mining could be doubled, from some USD 2 billion generated last year, he said, adding that Serbia will aim to boost the mining sector s share of GDP from 3% in 211 to 5% this year.(source:executive newsletter) 2

3 A Listing Aerodrom Nikola Tesla Energoprojekt holding Naftna industrija Srbije Soja protein Tigar Izvor: Bloomberg AERO , % -1.55% ENHL 467.% -4.89% NIIS 66 5,67,6-1.4% -3.75% SJPT , % -1.6% TIGR ,5.%.%.25 #N/A N/A ,76,95,73 Din. 4,421,467,285 Din. 17,619,867,188 Din. 8,267,15,625 Din. 833,453,125 Din. Alfa Plam Komercijalna banka Metalac Izvor: Bloomberg B Listing ALFA 7,15 17,25.% -.61% KMBN 1,75 91, -2.4% -2.78% MTLC 1,65.% -1.79% ,249,95,762 Din. 15,241,292,969 Din. 1,683,, Din. Continuous Trading Method Agrobanka AIK banka Beogradska industrija piva Bambi Credy banka Čačanska banka DIN prioritetne Dunav osiguranje Galenika Fitofarmacija Globos osiguranje Imlek Informatika Jedinstvo Sevojno Jubmes banka Komercijalna banka PB Lasta Napred GP Politika Privredna banka Progres Pupin Telecom Putevi Užice Razvojna banka Vojvodine Simpo Tehnogas Telefonija Univerzal banka Velefarm Veterinarski zavod Subotica Vino Župa Vital Voda Vrnjci AGBN , -3.47% %.4 n/a 6.77 AIKB 1, , % -.45% BIPB 3.% 3.41% 2.72 n/a BMBI 2,.%.% CYBN 2,1.% %.49 n/a CCNB 9,.%.% DINNPB 9 27, -9.% % DNOS 1,2.% 9.68%.3 n/a 2.16 FITO 2,672.% 5.65% GLOS 316.%.%.15 n/a 2.21 IMLK 3,4 6,8 -.56%.13% INFM 2,25.% 6.18% #N/A N/A #N/A N/A #N/A N/A JESV 4,8.%.% JMBN 11,79 4,928, % -2.53% KMBNPB 96.%.67% n/a n/a 8.62 LSTA 256.% 2.81% NPRD 9 5,4-1.% -1.% PLTK 42.%.%.12 #N/A N/A PRBN 211.% -7.86%.23 n/a PRGS 44.%.% PTLK 94.%.% PUUE 864.%.% MTBN 1,99 29, % -2.4% SIMP 22.% 1.%.4 #N/A N/A TGAS 4,1.% -7.84% TLFN 352.%.% UNBN 1,995.% 5.84% VLFR 3.%.%.22 n/a VLFR 3.% -6.25% VINZ 7, 7, 6.6% 6.6% VITL 1,878.%.% VDAV 5, 315, -3.85% -3.85%.56 n/a ,935,68 Din. 15,392,286,133 Din. 273,181,763 Din. 7,657,979,98 Din. 1,38,331,787 Din. 1,21,14,4 Din. 2,977,891,113 Din. 264,362,579 Din. 2,351,36,17 Din. 351,33,2 Din. 27,251,169,922 Din. 413,565,735 Din. 1,462,651,245 Din. 3,6,77,52 Din. 338,4,55 Din. 391,925,751 Din. 38,951,111 Din. 277,69,641 Din. 525,986,694 Din. 237,281,6 Din. 15,465,462 Din. 848,656,25 Din. 1,188,952,26 Din. 233,134,3 Din. 4,25,297,852 Din. 23,876,633 Din. 1,132,124,634 Din. 467,728,485 Din. 678,58,777 Din. 1,388,589,966 Din. 1,434,673,76 Din. 573,934,998 Din. Napomene: (1) Promet=prosečna ponderisana cena x obim. (2) -price to book value je racio koji predstavlja odnos tržišne cene i knjigovodstvene vrednosti. (3) -price to earnings je racio koji predstavlja odnos tržišne cene i zarade po akciji (EPS). (4) -return on equity je racio koji predstavlja odnos neto dobiti i akcijskog kapitala. (5) Mcaptržišna kapitalizacija=tržišna cena akcije x broj akcija 3

4 REGION Index Country / Region Previous Change YTD Crobex Hrvatska 1, , SBITOP Slovenija SOFIX Bugarska BET Rumunija 5,241. 5,313. DJ Stoxx Balkan 5 Balkan % 5.92%.%.66%.27% -4.95% -1.36% 2.85%.% 13.2% CROBEX crobex SBITOP sbi2 SOFIX sofix BET bet-c dj balkan DJ Stoxx Balkan 5 Romania s inflation rate fell to a record low in March as falling food prices offset service-price growth. The annual rate dropped to 2.4 percent, the lowest in two decades, from 2.6 percent in February, the National Statistics Institute in Bucharest said today by . The rate matched the median estimate of 2.4 percent of 12 economists surveyed by Bloomberg. Consumer prices grew.4 percent in the month. As inflation slowed to a post-communist low in the eastern European country, policy makers had room to cut the benchmark interest rate four times in a row since November to a record-low 5.25 percent to boost a halting recovery as the economy swings back to a recession during the European sovereign-debt crisis.(source:bloomberg) Prime Minister Mario Monti s efforts to overhaul the economy and protect Italy from the region s debt crisis may be overwhelmed by Spain s deepening fiscal woes and the fading effect of European Central Bank three-year lending. Monti sent parliament last week a plan to revamp the labor markets, which represents the most ambitious of his four major legislative efforts to make the Italian economy more competitive. The draft law was greeted on April 4 by a 9 basis point increase in the country s 1-year bond yield to 5.43 percent as Spain s debt slumped on renewed concern the country would need a bailout. Spain and Italy are two different countries, but the problem is the two bonds are highly correlated because they share similarities, said Marc Chandler, head of global currency strategy at Brown Brothers Harriman in New York. Both countries economies are going to contract this year. (source:bloomberg) 4

5 WORLD Index Country / Region Previous Change YTD Dow Jones Industrial S&P NASDAQ FTSE Dow Jones Stoxx 6 Nikkei , , , Engleska 5, EU Japan 9, , , ,47.8 5, , % 8.4% 2.26% 12.39% 2.18% 19.52%.% 2.72%.% 5.94% -1.47% 12.9% Dow Jones Industrial S&P dow jones 12 s&p NASDAQ Composite FTSE nasdaq 6 dax DJ Stoxx 6 Nikkei nikkei 1 \ dj stoxx U.S. stocks fell, dragging the Standard & Poor s Index lower following its worst week of 212, after employers added fewer jobs than forecast in March. Caterpillar Inc. and General Electric Co. sank more than 1.5 percent, pacing declines among industrial shares. Financial shares lost 1.6 percent among 1 groups in the S&P. Bank of America Corp. and Citigroup Inc. erased at least 2.4 percent. Alcoa Inc., scheduled to report earnings tomorrow, slipped.3 percent. AOL Inc. soared 43 percent after agreeing to sell and license patents to Microsoft Corp. The S&P slumped 1.1 percent to 1,382.2 at 4 p.m. New York time, after losing.7 percent last week. The Dow Jones Industrial Average dropped points, or 1 percent, to 12, About 5.5 billion shares d hands on U.S. exs today, 19 percent below the three-month average. Equity markets were shut for Good Friday on April 6, when the employment report was released.(source:bloomberg) European stocks tumbled to a two-month low after a report showed U.S. employers added fewer jobs in March than forecast. Asian shares also retreated, while U.S. index futures were little d. Vedanta Resources Plc led a retreat in mining companies as copper fell in London and the metal producer reported lower iron-ore sales. Spanish banks declined after the government increased its efforts to bring the country s deficit under control. STMicroelectronics NV dropped 3.5 percent after the chipmaker cut the forecast for its gross margin.the Stoxx Europe 6 Index sank 1.4 percent to at 8:29 a.m. in London, the benchmark measure s lowest level since February 1. European markets were closed yesterday for the Easter Monday holiday. The MSCI Asia Pacific Index slid.2 percent, while Standard & Poor s Index futures expiring in June advanced.1 percent.(source:bloomberg) Navedene informacije date su u svrhu opšteg informisanja i ne mogu biti zamena za finansijski savet niti se njihovim objavljivanjem stvara bilo kakva obveza za Banca Intesa ad Beograd. Banca Intesa ad Beograd ne prihvata odgovornost za bilo kakvu štetu nastalu upotrebom informacija iz ovog materijala. niti garantuje za njihovu tačnost. Zabranjeno je dalje distribuiranje i umnožavanje ovog materijala ili nekih njegovih delova bez prethodnog pisanog pristanka Banca Intesa ad Beograd. 5