A WORD FROM THE MANAGEMENT BOARD

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2 A WORD FROM THE MANAGEMENT BOARD LJUBLJANA STOCK EXCHANGE - ON THE PATH TO CHANGE In May 2004 Slovenia became a full member of the European Union. This formally brought an end to the first stage of the Slovenian transition, furnishing the country with a stable macroeconomic environment and legislation harmonised with the European Union law. Consequently, the regulation of the capital market is in accordance with the EU directives and meets the high standards of developed financial markets. From the point of view of the capital market, the period was marked by a mass privatisation process transforming practically every medium Slovene company into a joint stock company and thus making shareholders of all the citizens. As a result, over 140 companies are listed on the Ljubljana Stock Exchange, of which, however, only some 10 boast satisfactory liquidity. The process of transition is normally accompanied by relatively high returns on the capital markets, reflecting considerable investment risk typical for such a period. The Slovene Stock Exchange index SBI 20 thus gained an annual 19.2% (in euro) between 30 December 1999 and 1 May 2004 (accession of Slovenia to the EU); the rapid growth has its origins in the cutting of interest rates, considerable economic growth and good economic performance of the largest companies, along with the trends of convergence to the EU. A NEW STAGE Slovenia will adopt the euro on the 1 January 2007 as the first among the new Member States, due to its stable macroeconomic environment. This is an important gain for transactions on the capital market, simplifying the investments of Eurozone investors into top Slovenian companies. The Stock Exchange intends to make good use of the newly acquired advantage by introducing novelties to its operations intended to encourage portfolio investments: 1. Prime market Prime market caters for the most prestigious Slovene companies that meet the liquidity criteria of LJSE. Prime issuers are also bound to adhere to the highest disclosure standards, informing the domestic as well as the international public of their business operations. 2. System of liquidity providers One of the crucial obstacles hampering more active trading on the Ljubljana Stock Exchange is the listed shares' lack of liquidity. In 2006, the trading system with liquidity providers was introduced, ensuring extra liquidity for traded shares. This mechanism is intended to enhance the overall Stock Exchange liquidity and thus also lower the transaction costs for investors. 3. Introduction of new products The Slovene capital market will benefit from the wider European dimension also through the introduction of several new financial instruments will therefore see the beginning of trading in interesting financial products enabling the investors to purchase the exposure on a certain segment of the Slovene market (ETF, investment certificates). 4. Introduction of new issuers The LJSE will further enhance its efforts in attracting new issuers to list on the Official market, as well as encouraging existing issuers to move to higher segments of the market, thus improving their investor relations, disclosure standards, liquidity etc. REFORMS OF THE SLOVENE ECONOMY - A FORWARD MOTION Economic reforms that are scheduled to take place in Slovenia are destined to positively impact the capital market, most notably through the declared withdrawal of the state from the country's economy (second wave of privatisation). Investors have thus already witnessed the listing of the Slovene telecommunications operator - Telekom Slovenije, which became the second largest issuer on the LJSE. The state has already revealed some of its plans for the sale of the companies in which it currently still acts as the major owner, the most important of which are: - the Slovene telecommunications operator - Telekom Slovenije; - the biggest Slovene banks - Nova Ljubljanska banka, Nova kreditna banka Maribor, - the biggest Slovene insurance company - Zavarovalnica Triglav. The shares of the above companies may be expected to list on the Ljubljana Stock Exchange within a few years' time. The planned withdrawal of both Slovene state-owned investment funds (KAD and SOD) from the ownership of Slovene companies represents an additional measure decreasing the state's influence on the economy; the state-owned funds namely continue to hold a 20% share of most Slovenian companies traded with on the Ljubljana Stock Exchange. Their common shares will be sold in a transparent manner. Their withdrawal will result in the release of a considerable amount of shares thus available to portfolio investors, enhancing their interest in block trade transactions. FUTURE YEARS ON THE LJUBLJANA STOCK EXCHANGE The high growth rates of the Slovene economy will continue in the future. Domestic consumption growth as well as the economy's close ties with the rapidly developing region of South- Eastern Europe will further dictate the fast pace of growth on the Ljubljana Stock Exchange, with the successful government reforms enabling the Slovene companies to turn their potentials to their best advantage. Mr Andrej Šketa Executive Vice President & COO Ljubljana, November 2006 Mr Marko Simoneti, PhD President & CEO prime introduction issuers presentation 03

3 CAPITAL MARKET IN SLOVENIA MACROECONOMIC ENVIRONMENT In 2004, Slovenia joined the European Union, which undoubtedly represented the biggest single event in the country s short history and strongly influenced the Slovene macroeconomic environment. Slovenia has entered the ERM2 currency mechanism and will adopt EURO on January 1, This will further simplify and increase the appeal of investments on the Slovenian capital market for international investors. With regard to the capital market, the most significant macroeconomic changes in the past year were the following: - inflation and interest rates dropped; - outflow of capital increased through investments into foreign securities; - real annual GDP growth was fourth highest in independent Slovenia GDP GROWTH 4.9% (1st half year) 3.9% 4.6% 2.5% UNEMPLOYMENT (based on ILO methodology) 5.9% (1st half year) 6.5% 6.4% 6.7% INFLATION* 2.4% (Oct**) 2.5% 3.6% 5.6% GROSS EXTERNAL DEBT (in EUR m) n/a 19,565 15,271 13,259 Source: Bank of Slovenia Notes: * average levels of growth: in 2005 (Dec/Dec) the prices of consumer goods increased by 2.3%, while the increase of 2004 was 3.2% and in 2003 was 4.6% ** twelve months average inflation rate (Oct/Oct) Slovenia has a stable macroeconomic environment and is most developed among the new EU members, whereas all new member states represent the region with the highest growth potential in the EU. The 2005 GDP of Slovenia thus increased by 3.9% compared to the year before, while the rules and regulations along with other market infrastructure meet the high standards of developed financial markets. INVESTING IN SLOVENIA AS AN ATTRACTIVE OPPORTUNITY - Stable macroeconomic environment and higher growth potential Slovenia is the most developed among the new EU members, whereas the entire region boasts the highest growth potential in the EU. The government of Slovenia is currently preparing a package of economic and social reforms, intended to improve the country's competitiveness, increase its economic growth, decrease the level of bureaucracy and improve the flexibility of the labour market, with the ultimate goal being the achievement of sustainable development. - Modern market infrastructure The new development model of the Exchange is based on the protection of all potential investors on the secondary market; we take account of the issuers' interest in being listed on the most prestigious segment of the domestic market as well as on the interest of foreign and domestic institutional investors in investing in mainly liquid securities and carrying out transactions mainly on the organised market, ensuring the best market prices. - Upcoming sale of residual state ownership The new government of Slovenia expressed its firm intention to withdraw itself from ownership in the most important Slovenian companies, such as Telecom, insurance companies and banks, accounting for the biggest and best situated companies in Slovenia. State funds KAD and SOD currently still own an average 20% of the biggest companies, but plan to withdraw from active control of companies in order to become normal portfolio investors. The first stage of withdrawal began in October this year, when shares of Telecom were listed on Ljubljana Stock Exchange, and state funds published a list of approximately 80 companies, in which they want to sell their ownership share in CORPORATE GOVERNANCE The consolidated text of the first Slovene Corporate Governance Code and updated in 2005 by the Ljubljana Stock Exchange, the Managers' Association of Slovenia and the Association of Supervisory Boards' Members. The Code has won the attention of the majority of the most important issuers, thus increasing the standards of corporate governance in Slovenian companies. The Code consists of recommended governance principles and is addressed to all joint-stock companies. The Stock Exchange monitors the implementation of the Code through declarations of compliance. The declarations, following the "comply or explain" principle, have become an obligatory enclosure to an annual report of listed companies. 04 prime issuers presentation introduction

4 CAPITAL MARKET IN SLOVENIA TRADING AND SETTLEMENT The Ljubljana Stock Exchange and the Slovene capital market meet the high standards of developed financial markets. 210 dematerialized securities are traded on the Ljubljana Stock Exchange electronic trading system BTS, including shares, bonds, investment funds, and treasury bills. Two trading modes are applicable within the trading system, depending on the liquidity of the security: continuous trading and auction trading. Market structure PRIME MARKET SHARES SHARES BONDS INVESTMENT FUNDS SHARES BONDS INVESTMENT FUNDS SHORT-TERM SECURITIES OFFICIAL MARKET SEMI-OFFICIAL MARKET The Ljubljana Stock Exchange operates two main markets: the official and semi-official market. The former is upgraded with a special market segment - an elite listings venue for issuers renown for their liquidity, size and transparency of business operations: the prime market. It was created to promote the most prominent Slovene issuers to the international investment community. The issuers in prime market have to fulfill the following criteria designed to meet the international investors needs: - minimum liquidity requirements, - minimum market capitalisation requirements, - adopt the international transparency standards: - the use of IFRS, - dissemination of price sensitive information in English. Trading overview Security dealing is possible solely through authorised brokerage companies and certain banks. The Slovenian capital market is completely dematerialised. Trading on LJSE is performed electronically via its electronic orderdriven trading system. The settlement cycle for on-the-exchange trades is T+2. All trades are cleared and settled via a book entry by the Central Securities and Clearing Corporation (KDD). KDD maintains the registry for all Slovenian publicly offered securities. KDD - CENTRAL SECURITIES CLEARING CORP. IN BRIEF KDD provides to its members, issuers and holders of securities the following services related to securities, maintained in the central registry: - automatic clearing and settlement of the Ljubljana Stock Exchange organized trades (hereinafter referred to as stock exchange trades), - settlement of off-market securities transactions, - registration of all dematerialized securities, - ISIN allocation to the issued securities, - keeping of securities accounts for legal owners, - services of the central database for all dematerialized and immobilized securities, - services of the central depository. Types of Settlement and Clearing Mechanisms and Processes LJSE transactions clearing and settlement process For transactions, conducted on the LJSE, the securities and cash become irrevocably committed to settlement on T+0 at 2.00 p.m. The finality of settlement is achieved for both, securities and cash on T+2 at 1 p.m. KDD system operates a BIS DVP Model 2 settlement mechanism for all transactions conducted on the LJSE (netting on the cash side, gross securities transfers). Net cash clearing process The information on matched trade reaches KDD through the automated link between LJSE and KDD. KDD continuously receives information on successfully concluded trades from LJSE, and it continuously performs the calculation of the multilateral net cash claims and obligations of KDD settlement members, irrespectively of whether they are trading for their own account or for the accounts of their clients. The outcome of the calculations are members' net to pay or net to receive positions that are due for cash settlement on T+2. KDD intermediates in the transfer of funds to cash accounts in relation to securities transfers. It provides a cash multilateral net- prime introduction issuers presentation 05

5 CAPITAL MARKET IN SLOVENIA ting function for all transactions executed on the organized market. For the purpose of the cash settlement of securities transactions, the Bank of Slovenia maintains a series of cash accounts: a KDD clearing and settlement account within the RTGS system, clearing (zero-balance) accounts of the KDD members, and client funds accounts. In addition, all commercial banks maintain a settlement account with the Bank of Slovenia, since holding that account is a prerequisite for the participation in the RTGS payment system. A commercial bank settlement account with the Bank of Slovenia serves also as a KDD member house account in case of the commercial banks that are licensed for securities trading. Other KDD members maintain their house accounts with commercial banks. On T+2, KDD transfers the received funds from its clearing and settlement account to the clearing (zero-balance) accounts of the net-to-receive members until 1:00 p.m., therefore it is possible for the members to transfer received funds further within the same day. In this way, stock-exchange transactions are settled in central bank money. Two main types of risk management tools have been established in order to facilitate the timely cash settlement: the Liquidity Reserve Fund and the Guarantee Fund. The Liquidity Reserve presents a sort of prepayment or pre-funding of clearing obligations (that are due on T+2) and has to be paid by the clearing debtor member to KDD only if the member's net to-pay position exceeds certain predefined cash debit position, set out by KDD. The Liquidity Reserve payment has to be made on T+1 and the paid amount is deducted from the member's net to pay cash position due on T+2. The guarantee fund is constituted of members' cash assets and it is managed by KDD. In this way the guarantee fund is one of the important risk management tools that are used to ensure the timely completion of the cash settlement of stock exchange trades in case of members' payment default. The guarantee fund, as one of the principal risk management measures employed by the KDD, is deposited at the Bank of Slovenia. Gross settlement of securities Settlement of the obligation to transfer securities following a stock exchange transaction is performed on a gross basis, by transferring securities from the end seller's account to the end buyer's account. With respect to settlement of securities following a stock exchange transactions, executed on a respective trading day, settlement members shall until 11 a.m. on a settlement day meet the obligation to ensure securities transfer. KDD executes the orders immediately after all orders for transfer of securities for settlement of stock exchange transactions, due for settlement on that day, have been created. In order to facilitate the timely completion of the securities settlement of stock exchange trades in case of members securities delivery default, the buy in/sell out procedures are used as a main risk management tool. In general, KDD executes all actions, with respect to the settlement of stock exchange transactions, in its name and for the account of settlement members in such a manner that KDD, in the internal relation to settlement members, acquires those rights accruing to the benefit of settlement members, and KDD assumes those obligations on behalf of settlement members. KDD's liability for any obligations described above, is limited to the assets of the guarantee fund and does not in any manner whatsoever extend to KDD's own assets (KDD is basically a so called 'settlement facilitator'). In that way, KDD does not perform functions of a central counterparty (CCP) as it does not assume the risks of possible member's defaults in obligations arising from stock exchange transactions. KDD Future Prospects KDD is compliant with all current standards of the European Central Bank applicable for securities settlement systems. This means that KDD's system will also be used for the purpose of collateralization of European System of Central Banks credit operations as Slovenia enters into Euro currency area on 1 January 2007 HOW TO GET INFORMATION ON ISSUERS AND TRADING ON LJSE? Vendors Prices of all securities listed on LJSE are available on-line via authorised information providers (vendors) that LJSE supplies with trading data. International internet information providers are: - Bloomberg - Reuters - Thomson Financial Limited 06 prime issuers presentation introduction

6 CAPITAL MARKET IN SLOVENIA End-of-day trading data by mail The service enables investors to receive an end-of-day txt file by mail. The file contains useful information on securities trading on the Exchange. It is created and automatically sent to all subscribers at the end of each trading day at around SEOnet SEOnet is the Ljubljana Stock Exchange electronic dissemination information system, available to the wide public from the LJSE website. It offers business information on the companies whose securities are listed either on the official market or traded with on the semi-official market, while it is also a place for public announcement of the Exchange and of other capital market institutions. SEOnet ( ) offers the following types of announcements: - announcements which the issuers are obliged to publish in accordance with legal regulations and LJSE Rules; - summaries of annual and semi-annual reports and financial statements; - information on any business or other events regarding the business activities of an issuer that may considerably affect prices of securities (such as General Meetings of Shareholders, dividend payments, new issues of securities, material changes in the ownership structure, concluded contracts of significant importance, legal proceedings, mergers of companies, etc); - announcements of LJSE and other capital market institutions; - short notifications regarding public announcements of issuers published in other media. SLOVENE SECURITIES MARKET LEGAL FRAMEWORK Over the recent years, the Slovene securities market legal framework has been given a thorough overhaul. Aside from the side effects of the pension reform, the changes were most notably due to Slovenia having become a full member of the European Union on 1 May The Slovene securities market is legally governed by the Securities Market Act (ZTVP) (Official Gazette of the Republic of Slovenia, no. 26/2005, no. 28/2006, ZTVP). ZTVP determines the issuing and turnover of serial securities (shares, bonds and other serial securities), while also containing the provisions regulating the trading in derivatives. ZTVP also includes the provisions of Directive 2003/71/EC of the European Parliament and of the Council as of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading. Market monitoring and surveillance is carried out by the independent Securities Market Agency. The Mergers and Acquisitions Act (ZPre) (Off. Gazette of RS, no. 79/2006, ZPre) determines the so-called mandatory takeover bid. The takeover bid is mandatory for any person or persons acting in concert, having acquired a stake holding 25% of the voting rights. The following bodies must be notified of the intended takeover bid: the Securities Market Agency, the Management Board of the company intended for the takeover, and the competent agency appointed for the protection of competition. The takeover bid may only be filed following proper authorisation from the Securities Market Agency. ZPre has been harmonised with the Directive 2004/25/EC of the European Parliament and of the Council as of 21 April 2004 on takeover bids. The Companies Act (ZGD) (Off. Gazette of RS, no. 42/2006, ZGD) represents the fundamental organic law governing company legislation in the Republic of Slovenia as well as regulating the legal position of private companies and companies with capital participation, accounting law supplemented by the Slovene accounting standards, and auditing. The ZGD establishes a legal basis for: - the appropriate adaptation of the nominal value of shares (or of subscribed contributions or subscribed capital) due to the change of currency from SIT to Euro, - no par value shares, - the introduction of the one-tier management system for joint stock companies, - the introduction of the European joint stock company (Societas Europaea) into the Slovene legal system, - the introduction of the squeeze-out procedure and the sell-out option for minor shareholders, - provisions on special and extraordinary audit. The ZGD allows for the possibility of choice among the one- or two-tier systems of management for domestic companies, which brings about compliance with Directive 2001/86/EC on employee involvement. As such, the ZGD also enabled the harmonisation of Slovene legislation with the Directive as regards rights related to the issues of corporate law, minority rights, etc. prime introduction issuers presentation 07

7 RIC Bloomberg: DRKR SV RIC Reuters: DRKR.LJ Thomson Datastream Code: 32092M Thomson One Code: DRKR-LJ With the merger of two successful Slovene food companies, Droga and Kolinska, in May 2005, Slovenia gained a new food group which, in addition to the parent company Droga Kolinska d.d. includes affiliated companies in Slovenia, Croatia, Bosnia and Herzegovina, Serbia and Montenegro, Macedonia, Sweden and Russia. The six main sectors of the new company's activity include patés, coffee and teas, water and soft drinks, baby food, seasonings, sauces, cereal products and confectionery. They are represented by established brands, some of which have regional or even global potential. The main sectors have been further strengthened by the recognised products of the Serbian companies Grand Prom and Soko Štark, which became part of the Droga Kolinska group. The new company's mission is to satisfy the needs of consumers of all ages with a quality range of foods and drinks, to guarantee shareholders an increase in the value of their capital and to offer employees an environment in which to realise their enterprise ideas. Since the merger, the formerly independent local food companies have grown into a powerful regional food group in terms of financial criteria, the structure of DROGA KOLINSKA, d.d., Ljubljana trading code: DRKR Company address Droga Kolinska, d.d., Kolinska ulica 1 SI-1544 Ljubljana, Slovenia Contact person Mr Marko Jazbec, Executive Director for Finance, Accounting and IT Phone marko.jazbec@drogakolinska.si Mrs Polona Vagaja, Director of Public Relations Phone polona.vagaja@drogakolinska.si their product portfolio and the strength of their brands, and in terms of their distribution network. The strategic goal of Droga Kolinska is to become the largest food business in the region, both through organic growth and through external growth, through further capital tie-ups, which will lead to an increase in value for our shareholders. We intend to increase total sales revenue from the current EUR 300 million to EUR 500 million by With its wide range of products, Droga Kolinska is becoming increasingly interesting to foreign retail chains. A significant breakthrough has already been achieved with retailers such as Switzerland's Denner and Germany's Interspar. Worth highlighting among our investment projects is the building of a factory in Bosnia and Herzegovina to supply the markets of the former Yugoslavia, the Middle East and the Far East, which will be opened in the end of November Our goal is total quality management. We keep pace with modern trends in the food industry through staff training and by encouraging innovation. We have opted for environmentally friendly technology because we are aware of the importance of the environment in which we live and work. DROGA KOLINSKA PRICE AND TURNOVER (1 Nov 05 to 31 Oct 06) Note: Droga, d.d. and Kolinska, d.d. merged in May The share of Droga Kolinska, d.d. was listed on the LJSE official market on 19 October Information on DRKR presented in this publication is therefore adjusted. On 1 November 2005, DRKR was listed on the Official Market and transferred to the Prime Market on 1 December BUSINESS RESULTS according to IFRS* (in EUR million) half 2006 Net revenues from sales n/a Net profit n/a EBIT n/a EBITDA n/a Net profit per share (in EUR)** n/a *Note: IFRS stands for International Financial Reporting Standards **Note: Net profit per share is for DrogaKolinska d.d. Source: Droga Kolinska, d.d. INFORMATION ABOUT SECURITY AS OF 31 Oct 2006 Free float market capitalisation 14.09% Average daily turnover 15, EUR Market turnover ratio 1.99% No. of shareholders % international ownership 4.41% 31 Oct 2006 Market average P/E P/B P/S Dividend yield 2.35% 1.47% Capital gains from 1 Nov 05 till 31 Oct % 31.70% Note: Market capital gains are represented by SBI20 index. More analytical and trading data: or services of LJSE members 08 prime prime issuers market presentation issuers

8 RIC Bloomberg: GRVG SV RIC Reuters: GORE.LJ Thomson Datastream Code: Thomson One Code: GRVG-LJ GORENJE, d.d., Velenje trading code: GRVG Company address Gorenje, d.d., Partizanska 12 SI-3503 Velenje, Slovenia Contact person Mrs Bojana Rojc, Director, IRO Phone bojana.rojc@gorenje.si GORENJE PRICE AND TURNOVER (1 Nov 05 to 31 Oct 06) The Gorenje Group is one of the leading European large household appliance manufacturers based in Slovenia. The Group comprises the parent company Gorenje d.d. and its 50 subsidiaries, 38 of which are situated abroad. In terms of business operation, the companies are grouped into three divisions, as follows: Household Appliances Division, Home Interior Division and Trade and Services Division. With export revenues accounting for nearly 90% of total sales, the Gorenje Group is one of the leading Slovenian net exporters. It is present in over 60 countries across the globe with 3.5 million household appliances sold on an annual basis, 73% thereof under the Gorenje brand. It has 56 years of experience in the production and sales of large household appliances and holds a 4% market share in Europe, which makes it one of the top eight manufacturers of household appliances. The strategy In 2005, the Gorenje Group posted a significant 12.4% growth with net sales exceeding EUR 1.0 billion. The strategic plan for the period provides for a 5% average annual increase in net sales, which are set to reach EUR 1.25 billion in Only the planned organic growth is included in the indicated financial projections, excluding any potential takeovers. According to estimates, in the strategic period under consideration an additional EUR 200 to 300 million growth could be achieved by takeovers, which would push the consolidated net sales up to EUR 1.5 billion by Along with rising sales, the Group's plans also include further cost control, which will be reflected in improved sales profitability and net profit. The Gorenje Group is planning on the production to reach 4.3 million of large household appliances in 2010, of which 3 million will be manufactured in Slovenia and 1.3 million abroad; with additional merchandising, unit sales in this category are estimated at million. The vision It is the vision of the Group to become the most innovative, design-minded creator of home appliances in the world. Our mission is to create innovative, technically accomplished, superbly designed, user- and environmentally friendly appliances for the home. We are dedicated to increasing customer satisfaction and creating value for the owners, employees and other stakeholders, in a socially responsible way. Our values are: Probity, Openness, Loyalty, Key to Creativity, Ambition. Gorenje is a design-minded company since design plays a vital role as a key brand recognition factor and as a competitive advantage. In the past decade, the Gorenje brand has built, at an accelerated rate, its image as a trendsetter in design, advanced technology, innovation and contemporary lifestyle rooted in home and family values as an answer to the needs of the present-day consumer. Our design vision is not built only on the tried maxim that "form follows function" but also that "form follows emotion". CONSOLIDATED BUSINESS RESULTS according to IFRS (in EUR milion) % change 9M 2006 Net revenues from sales , % Net profit % EBIT % EBITDA % Net profit per share in EUR % 1.53 Source: Gorenje, d.d. INFORMATION ABOUT SECURITY AS OF 31 Oct 2006 Free float market capitalisation 65.11% Average daily turnover 101, EUR Market turnover ratio 9.04% No. of shareholders % international ownership 5.02% 30 Oct 2006 Market average P/E P/B P/S Dividend yield 1.82% 1.47% Capital gains from 1 Nov 05 till 31 Oct % 31.70% Note: Market capital gains are represented by SBI20 index. More analytical and trading data: or services of LJSE members prime market issuers presentation issuers 09

9 RIC Bloomberg: IEKG SV RIC Reuters: INEU.LJ Thomson Datastream Code: Thomson One Code: IEKG-LJ INTEREUROPA d.d., Koper trading code: IEKG Company address Intereuropa, d.d., Vojkovo nabrežje 32 SI-6000 Koper, Slovenia Contact person Mr Vado Keranović, Executive Manager for Finance, Accounting and Controlling Phone vado.keranovic@intereuropa.si Intereuropa is a leading logistics provider and a successful logistics group with large development possibilities. We implement our mission by meeting the requirements for logistic services to the optimum satisfaction of clients through reliability, speed, safety and competitive prices. Intereuropa is an expert in the field of logistics services. Among them are air freight, sea freight and land transport, organisation of direct lines of groupage services to all European countries, warehousing and distribution in internal markets of individual countries as well as door-to-door delivery. We have experience and optimal knowhow for providing services of delivery of express and courier parcels, customs brokering, border clearance, road transport of goods, shipping agency and all other services to the full satisfaction of our customers' logistics needs. In recent years, we have expanded our activities to more exacting logistics projects and the provision of comprehensive logistics services to manufacturers and trading companies on the basis of logistics outsourcing principles. We have expanded our operations from Slovenia to Croatia, Bosnia and Herzegovina, Macedonia, Serbia, Russia, Austria, Germany, France and Ukraine. In these countries we have subsidiaries companies with a network of operational units and logistics terminals. In other European countries and worldwide we support our logistical solutions on a network of reliable business partners. Development is one of the most important segments of the Group's policy governing its long-term operations. Our performance and competitive position are assessed on the basis of market research and customer satisfaction surveys. The Group's development plan envisages comprehensive development of services and processes, thus generating value added for buyers of logistic services through innovative solutions. INTEREUROPA PRICE AND TURNOVER (1 Nov 05 to 31 Oct 06) INFORMATION ABOUT SECURITY AS OF 31 Oct 2006 Free float market capitalisation 60.07% Average daily turnover 46, EUR Market turnover ratio 6.38% No. of shareholders % international ownership 0.53% BUSINESS RESULTS according to IFRS (in EUR million) % change 1 half M 2006 Net revenues from sales % Net profit % EBIT % EBITDA % Net profit per share* (in EUR) % Note: *Net profit per share is annualized. Source: Intereuropa, d.d. 31 Oct 2006 Market average P/E P/B P/S Dividend yield 4.17% 1.47% Capital gains from 1 Nov 05 till 31 Oct % 31.70% Note: Market capital gains are represented by SBI20 index. More analytical and trading data: or services of LJSE members 10 prime prime issuers market presentation issuers

10 RIC Bloomberg: KRKG SV RIC Reuters: KRKG.LJ Thomson Datastream Code: Thomson One Code: KRKG-LJ KRKA, d.d., Novo mesto trading code: KRKG Company address Krka, d.d., Novo mesto, Šmarješka cesta 6 SI-8501 Novo mesto, Slovenia Contact person Mr Brane Kastelec, Director of Finance Phone brane.kastelec@krka.biz Mr Peter Skubic, Head of Capital Markets Phone peter.skubic@krka.biz Krka is one of the leading generic pharmaceutical companies in Central and East Europe with over 50 years of experience and strong focus on branded generic prescription pharmaceuticals (Rx). With an extensive Rx portfolio supplemented by self-medication, animal health and cosmetic products, Krka serves customers with its own marketing and sales network in more than 70 markets. The strategy is to remain independent and exploit industry consolidation opportunities. Krka focuses on European, central Asian, and on pharmaceutical-chemical business and on advancement of internal regulatory and development know-how in order to strengthen first-to-file and first-to-market competences. Krka's business activities are focused on CVS, CNS, and gastrointestinal disorders and diseases with improving cost efficiency. Krka uses advanced vertically integrated business model to develop and launch value-added branded products in core therapeutic areas and to enter new therapeutic areas. Krka Group will grow at healthy, double digit annual growth rate also in the future. Krka is aiming to strengthen its position among the leading pharmaceutical companies in the markets of Central, East and South-East Europe, and consolidate its position in the West European markets. At the same time Krka will maintain economic, social and ecological responsibility towards the environment in which it operates. Krka's future growth prospects rely on increased focus on marketing and further development of own marketing & sales network, economics of scales, major patent expiries of blockbuster drugs, convergence of medicines expenditure per capita towards higher, western levels on our key markets, global generic industry growth due to governments' health care cost saving efforts, and on the emergence of new generic markets. In the first half of 2006 R&D expenses represented 7.5% of sales value. Krka has more than 100 projects in the pipeline and over 400 products in registration process. The sales of new products introduced in the last 5 years represented 46% of overall sales for the first half of KRKA PRICE AND TURNOVER (1 Nov 05 to 31 Oct 06) INFORMATION ABOUT SECURITY AS OF 31 Oct 2006 Free float market capitalisation 75.15% Average daily turnover 1,121, EUR Market turnover ratio 13.25% No. of shareholders % international ownership 7.62% BUSINESS RESULTS according to IFRS (in EUR million) % change 1 half half 2006 % change Net revenues from sales % % Net profit % % EBIT % % EBITDA % % Net profit per share (in EUR) % % Source: Krka, d.d. 31 Oct 2006 Market average P/E P/B P/S Dividend yield 0.89% 1.47% Capital gains from 1 Nov 05 till 31 Oct % 31.70% Note: Market capital gains are represented by SBI20 index. More analytical and trading data: or services of LJSE members prime market issuers presentation issuers 11

11 RIC Bloomberg: LKPG RIC Reuters: LKPG.LJ Thomson Datastream Code: Thomson One Code: LKPG-LJ Port and Logistic System Luka Koper d.d. is a public limited company that operates the terminals at the Port of Koper, Slovenia. This concern, in conjunction with its subsidiaries, supplements port activities and enriches the services provided by the Koper business and logistics centre. Following the Principle of Business Excellence As a successful market-driven enterprise, Luka Koper has acquired ISO 9001 and certification, attesting its commitment to quality and a responsible attitude towards the environment, further to which in 2005 it was awarded for business excellence by the EFQM (European Foundation for Quality Management). Upon its accession to the European Union, Slovenia also joined the Schengen group, as a result of which the Port of Koper obtained the status of Border Inspection Post (BIP). Efficacy In 2005 the total throughput of cargo surpassed thirteen million tonnes, and the company generated 92.6 million euros in operating revenue and a net profit of majority shareholders of million euros. The business results thus obtained facilitate a continuation of dividend policies, LUKA KOPER PRICE AND TURNOVER (1 Nov 05 to 31 Oct 06) LUKA KOPER, D.D., KOPER trading code: LKPG Company address Luka Koper, d.d., Vojkovo nabrežje 38 SI-6501 Koper, Slovenia Contact person Mrs Suzana Zornada Vrabec, Head of Public Relations Department Phone suzana.zornada@luka-kp.si Mrs Andreja Ličen Čok, Head of Finance Department Phone andreja.licen@luka-kp.si and the assurance of growing returns for shareholders. An Ideal Entrepôt for Central Europe The basic vision of the company is to become a leading port and logistics system provider for the countries of Central Europe. The key development directions over the next few years shall encompass the full exploitation of existing as well as the construction of new capacities - in consideration of the commercial justification for such while ensuring ongoing environmental acceptability. An upgraded and enhanced service structure shall be created through active marketing and the necessary provision of a complete logistics facility, as well as a variety of additional services intended to increase the value of the goods being shipped. In short, investments shall increase efficiency and competitiveness, reduce the consumption of energy and maintain ecological standards. Long-term Growth Expectations envisage forty percent growth in total cargo throughput over the coming decade, thus surpassing 18 million tonnes per annum. Luka Koper anticipates increased throughput in both containers and vehicles, while the levels of general cargo being handled is expected to remain static. The importance of Luka Koper as a distribution centre for its broader Central European hinterland is thus predicted to increase. INFORMATION ABOUT SECURITY AS OF 31 Oct 2006 Free float market capitalisation 57.96% Average daily turnover 78, EUR Market turnover ratio 8.42% No. of shareholders % international ownership 1.68% BUSINESS RESULTS according to IFRS (in EUR million) % change 1 half 2006 Net revenues from sales % Net profit % EBIT % EBITDA % Net profit per share (in EUR) % 1.48 Source: Luka Koper, d.d. 31 Oct 2006 Market average P/E P/B P/S Dividend yield 2.76% 1.47% Capital gains from 1 Nov 05 till 31 Oct % 31.70% Note: Market capital gains are represented by SBI20 index. More analytical and trading data: or services of LJSE members 12 prime prime issuers market presentation issuers

12 RIC Bloomberg: MELR SV RIC Reuters: MELR.LJ Thomson Datastream Code: 13759Q Thomson One Code: MELR-LJ MERCATOR, d.d., Ljubljana trading code: MELR Company address Mercator d.d., Dunajska 107 SI-1000 Ljubljana, Slovenija Contact person Mrs Melita Kolbezen, Controlling and Internal Auditing Dept. Manager Phone melita.kolbezen@mercator.si With its 57-year tradition Mercator is the leading fast moving consumer goods retailer (FMCG) in Slovenia with the market share of app. 45 %. It has, with its resoluteness and persistence, managed to penetrate and develop its retail network in Croatia, Serbia and Bosnia and Herzegovina. The 2005 consolidated turnover of Mercator was approximately EUR 1.7 billion. With the acquisition of more than 25 companies, successful penetration onto the new markets, wide spread retail network consisting of various retail formats with comprehensive product selection, top-level offer and upscale supplementary services, Mercator is pursuing its vision of becoming the leading retailer on the markets of South- Eastern Europe. Mercator's annual investments into the development of its retail network along with its non-current financial investments have come to an annual EUR 160 million over the past six years. Mercator currently employs 17,403 people, providing 12 million costumers with the highest quality offer of goods and services in 1,245 of its retail units each month. By the end of 2010, Mercator's aim is to consolidate and maintain its position as the leading retailer on the Slovenian market and to become the leading retailer in the neighbouring markets of Croatia, Bosnia and Herzegovina and Serbia. Mercator plans MERCATOR PRICE AND TURNOVER (1 Nov 05 to 31 Oct 06) to continue with the penetration of the new markets with strategic alliances and by organic growth through the construction of large shopping centres. Mercator's history as a retailer in ex-yugoslavia and thorough knowledge of these markets gives it an advantage over international retailers moving into these countries. Mercator has a broad and deep pool of talented managers at key levels. The appointment of the new management board on January 1, 2006 has been highlighted by a renewed commitment to growth coupled with a much needed focus on operational improvements and efficiency to improve margins. Mercator has for this purpose set foundations for four strategic optimisation programs, all aiming at cost reduction, higher efficiency and greater productivity. The main project in 2006 is the optimisation project in the Mercator Group (OPTSM), which is aimed at improving efficiency, streamlining of business activities and cutting the operation costs. After the year 2008 we expect more than EUR 40 million savings per year, which will be used for customer satisfaction. The OPTSM also includes implementation of new IT an optimisation of logistic infrastructure in Slovenia and Croatia. Mercator provides thorough financial and ownership disclosures in its annual and other periodical reports, which are published and available on its website and at its business premises. Mercator also promptly and regularly reports on all the news, changes, announcements and important events relating to the Company. BUSINESS RESULTS according to IFRS (in EUR million) % change 1 half 2006 Net revenues from sales 1, , % Net profit % 16.9 EBIT* % 36.6 EBITDA** % 68.8 Net profit per share (in EUR) % 3.9 Note: *EBIT=Earnings + tax + interest expense **EBITDA=Earnings + tax + interest expense + depreciation + amortization Source: Mercator, d.d. INFORMATION ABOUT SECURITY AS OF 31 Oct 2006 Free float market capitalisation 38.44% Average daily turnover 267, EUR Market turnover ratio 11.88% No. of shareholders % international ownership 8.98% 31 Oct 2006 Market average P/E P/B P/S Dividend yield 1.35% 1.47% Capital gains from 1 Nov 05 till 31 Oct % 31.70% Note: Market capital gains are represented by SBI20 index. More analytical and trading data: or services of LJSE members prime issuers market presentation issuers 13

13 RIC Bloomberg: MER SV RIC Reuters: MKUR.LJ Thomson Datastream Code: 13759U Thomson One Code: MER-LJ MERKUR, d.d., Naklo trading code: MER Company address Merkur, d.d., Cesta na Okroglo 7 SI-4202 Naklo, Slovenia Contact person Mr Rok Istenič, PR representative Phone Rok.Istenic@merkur.si The Merkur Group is a trading organisation. It employs people people and has attained near 40% market share in certain sales programmes in Slovenia. The company deals in more than 750 product lines, consisting of more than 200,000 items. It has become the market leader in the sales of home products and DIY, electro-installation materials, machinery, apparatuses and appliances, ferrous and non-ferrous metal products, and industrial items for professional use. Merkur deals in high-quality products and services, and plans to win a minimum of a 10% of the market share on foreign markets within a threeyear period. The Merkur Group is composed of the parent company Merkur, d. d. (PLC), and its 14 subsidiaries in Slovenia and abroad. Thanks to its versatile core programme, the Group successfully manages to combine sales to end consumers and to companies. Its net sales revenue is generated in 35% by retail sales and in 65% by wholesale. The sales to end consumers generate 46%, whilst sales to legal entities account for 54% of the Group's total profit. Total sales revenues in 2008 are planned to exceed EUR 1 billion, while the return on equity is expected to grow. The retail sales network consists of 35 Merkur sales centres in Slovenia, eight centres in Croatia, one in Serbia and an outlet in Macedonia. Merkur also has 22 franchise outlets in Slovenia, two in Bosnia and Herzegovina. Bofex, Merkur's largest Slovene subsidiary - a specialist in audio, video and household appliances - brings the additional 19 Big Bang and two BOF sales centres to the Group. In Slovenia, Merkur holds a 29% retail market share, and a 39% wholesale market share respectively. The Group's sales area covers 135,000 square metres in Slovenia, and totals 40,000 square metres abroad, while its warehousing facilities comprise 100,000 square metres. New logistic facilities and sales centres are being built in Slovenia, Croatia, Serbia, Bosnia and Hercegovina and Macedonia. The increasing sales, the appearance on new markets and the wide range of high-quality goods will continue to provide customers with satisfaction and will further benefit employees and owners alike. MERKUR PRICE AND TURNOVER (1 Nov 05 to 31 Oct 06) INFORMATION ABOUT SECURITY AS OF 31 Oct 2006 Free float market capitalisation 34.32% Average daily turnover 32, EUR Market turnover ratio 4.16% No. of shareholders % international ownership 4.11% BUSINESS RESULTS according to IFRS (in EUR million) % change 1 half M 2006 Net revenues from sales % Net profit % EBIT % EBITDA % Net profit per share in EUR % Source: Merkur, d.d. 31 Oct 2006 Market average P/E P/B P/S Dividend yield 1.78% 1.47% Capital gains from 1 Nov 05 till 31 Oct % 31.70% Note: Market capital gains are represented by SBI20 index. More analytical and trading data: or services of LJSE members 14 prime prime issuers market presentation issuers

14 RIC Bloomberg: PETG SV RIC Reuters: PETG.LJ Thomson Datastream Code: Thomson One Code: PETG-LJ PETROL, d.d., Ljubljana trading code: PETG Company address Petrol, d.d., Dunajska 50 SI-1527 Ljubljana, Slovenia Contact person Mrs Barbara Jama Živalič, Director, Financial Support to Petrol Group Phone barbara.jama@petrol.si Petrol is Slovenia's leading energy company, providing the country with its strategic supplies of refined petroleum products and other fuels, and is one of the country's largest and most successful joint stock companies. Petrol is known for its impeccable reputation, its high-quality goods and services, its established brands and its solid financial position. In addition to the parent company, the Petrol Group consists of six domestic subsidiaries, five foreign subsidiaries, three joint ventures and four affiliates. It covers four key lines of business: the sale of petroleum products and other merchandise, the sale and distribution of gas, the production, sale and distribution of electricity, and environmental products and services. Business line The Petrol Group's core line of business is petroleum and merchandising, and its main competitive advantage is its wide network of 356 state-of-the-art service stations in Slovenia, Croatia, Bosnia-Herzegovina and Serbia. In addition to the parent company, nine of the subsidiaries, three joint ventures and one affiliate in the Petrol Group are also engaged in the sale of petroleum products, merchandise and services. At the end of the nineties Slovenia's electricity and gas markets underwent a partial liberalisation, and the Petrol Group thus commenced the production, sale and distribution of electricity and heat, the marketing of petroleum gas and natural gas, and environmental services (wastewater treatment). Studies by the consultants McKinsey found the Petrol Group to have matched or surpassed the level achieved by its comparable competitors in Europe when it comes to good practice in the sale of fuels, IT, logistics, stock management, service station maintenance and the range of supplementary merchandise. Dividend policy As a successful and profitable company, Petrol makes regular dividend payments in line with its dividend policy, which is based on paying stable dividends that take account of performance, capital structure, shareholder expectations, investment opportunities and risks. PETROL PRICE AND TURNOVER (1 Nov 05 to 31 Oct 06) INFORMATION ABOUT SECURITY AS OF 31 Oct 2006 Free float market capitalisation 71.98% Average daily turnover 540, EUR Market turnover ratio 18.30% No. of shareholders 42,627 % international ownership 1.75% BUSINESS RESULTS according to IFRS (in EUR million) % change 1 half M 2006 Net revenues from sales 1, , % , Net profit % EBIT % EBITDA % Net profit per share* (in EUR) % * Note: Net profit per share without treasury shares Source: Petrol, d.d. 31 Oct 2006 Market average P/E P/B P/S Dividend yield 0.86% 1.47% Capital gains from 1 Nov 05 till 31 Oct % 31.70% Note: Market capital gains are represented by SBI20 index. More analytical and trading data: or services of LJSE members prime market issuers presentation issuers 15

15 RIC Bloomberg: TLSG SV RIC Reuters: TLSG.LJ Thomson Datastream Code: 41251Q Thomson One Code: TLSG-LJ The Telekom Slovenia Group is Slovenia's leading national and international telecommunications provider for fixed lines, mobile and Internet services, offering also construction and maintenance of Telecommunication networks. The Group offers integrated business system solutions as well as the publication of telephone directories and managing of databases. The Telekom Slovenia subsidiaries, located in Slovenia are Mobitel, d.d., leading and most advanced mobile operator, Slovenia Online - SiOL Internet, d.o.o., leading internet service provider, GVO, d.o.o., construction and maintenance of telecommunication networks, Teledat, d.o.o. publishing and databases management, Avtenta.si, d.o.o., established System integrator and business solution provider. International subsidiaries in majority ownership of Telekom Slovenia Group are Ipko.net in Kosovo and On.net in Macedonia, both internet service providers. Strategic guidelines Changing the companies' culture into customer oriented service companies is the key strategic orientation. Optimising key business processes, further modernising the organisational structure, management systems and HR development are the Group measures to transform the TELEKOM SLOVENIJE, d.d. Ljubljana trading code: TLSG Company address Telekom Slovenije, d.d., Cigaletova 15 SI-1544 Ljubljana, Slovenia Contact person Mr Filip Ogris-Martič, Member of Management Board Phone filip.ogris-martic@telekom.si Mr Tomaž Kraškovic, Director of Finance Dept. Phone tomaz.kraskovic@telekom.si companies into modern adaptable enterprises focusing on their customers. Expanding the service and offering portfolio. The Group gives particular attention to introduce new services and programmes of customer loyalty as well as programmes for improving customer satisfaction. Searching and creating new synergies. The Group's competitive advantage is synergies in all areas of operations within and between the Companies, taking into consideration value creation through convergence and "one customer experience". Geographic expansion to foreign markets remains important strategic step, where The Group primary focus is South-East Europe and the Mediterranean region. First attempts were made in 2006 with acquisition of internet service providers in Kosovo and Macedonia. Increasing the company value will be achieved by implementing all mentioned strategic objectives and fulfilling planned results. We believe this is a platform to a further increase in shareholder value as well as an improved role and reputation in a broader environment and society. Vision The First! TELEKOM PRICE AND TURNOVER (2 Dec 06 to 31 Oct 06) Note: Telekom Slovenije, d.d., was listed on LJSE official market on 2 October 2006 and plans to transfer to the Prime market in the beginning of Information on TLSG presented in this publication is thus adjusted. INFORMATION ABOUT SECURITY AS OF 31 Oct 2006 Free float market capitalisation 27.63% Average daily turnover 831, EUR Market turnover ratio 10.78% No. of shareholders 9,973 % international ownership 0.62% BUSINESS RESULTS according to SAS* (in EUR million) % change 9M 2006 Net revenues from sales % Net profit % EBIT % EBITDA % Net profit per share (in EUR) % Source: Telekom Slovenije, d.d. 31 Oct 2006 Market average P/E P/B P/S Dividend yield 1.78% 1.47% Capital gains from 2 Dec 06 till 31 Oct % 6.14% Note: Market capital gains are represented by SBI20 index. More analytical and trading data: or services of LJSE members 16 prime official issuers market presentation issuers