LJSE PRIME ISSUERS prime market issuers

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3 LJUBLJANA STOCK EXCHANGE MACROECONOMIC ENVIRONMENT LJUBLJANA STOCK EXCHANGE Firm Ljubljana Stock Exchange Inc. Owners Brokerage firms and banks No. of member firms 24 Market segmentation* equity market Prime Market Standard Market Entry Market bond market fund market closed-end fund market structured products market Trading hours Blocks: Trading method Brokers enter buy and sell orders into the BTS through their computers continuous trading method auction trading method Settlement T+2, KDD (Slovene Central Securities Clearing Corporation) Trading system BTS - LJSE electronic trading system Capital market regulator Slovene Securities Market Agency (ATVP) International ties LJSE is a member of WFE - World Federation of Exchanges FESE - Federation of European Securities Exchanges Currency Euro Legal framework Markets in Financial Instruments Act (ZTFI) Takeovers Act (ZPre) Foreign Exchange Act (ZDP) Dematerialized Securities Act (ZNVP) Investment Funds and Management Companies Act (ZISDU) *The new segmentation will take effect on 30 June In May 2004 Slovenia became a full member of the European Union. This stabilized our macroeconomic environment, which enabled Slovenia to become the first of the new member states to adopt the euro - we exchanged it for our national currency in Adopting the single European currency was an important gain for transactions on the capital market, since it eliminates foreign exchange risks and thus simplifies Eurozone investment into Slovenia's top companies Real GDP growth Unemployment (ILO) Average annual inflation Current deficit (% of GDP) Source: Slovene Institute for Macroeconomic Analysis and Development, Statistical Office RS, Ministry of Finance RS Among the recently joined member states, Slovenia enjoys the status of being most developed, while the entire region has the highest growth potential in the EU as a whole. Slovenia's GDP growth in 2007 amounted to 6.1 per cent; this was the highest economic growth recorded since 1991, while the country also took advantage of favourable conditions and continued cutting its public debt and current deficit in GDP. prime introduction market issuers 3

4 LJUBLJANA STOCK EXCHANGE LJUBLJANA STOCK EXCHANGE IN 2007 AND IN JAN-APR 2008 Year 2007 Percentage Jan-Apr 2008 Percentage (in EUR mio) of shares* (in EUR mio) of shares* Market capitalization at the end of period all securities 26,858 22,048 all shares** 19,740 14,715 prime market 12, % 8, % BTS trading volume all securities 2, all shares 1, prime market 1, % % * Percentage of prime market shares in the total share market cap or share trading volume. ** All shares stand for 59% of Slovenia's 2007 GDP, which amounts to EUR 33,542 mio. PRIME MARKET ISSUERS Turnover PRIME MARKET SHARES Turnover in 2007 (in EUR mio) Price change in 2007 Jan-Apr 2008 (in EUR mio) Price change Jan-Apr 2008 GORENJE % % INTEREUROPA % % KRKA % % LUKA KOPER % % MERCATOR % % NOVA KBM* % % PETROL % % TELEKOM SLOVENIJE % % * Nova KBM is listed on the official market, first trading day 10 December NEW MARKET SEGMENTATION EQUITY MARKET Prime Market Standard Market Entry Market BOND MARKET FUND MARKET Plus Market General Market CLOSED-END FUND MARKET STRUCTURED PRODUCTS MARKET Certificates - Plus Market - General Market Warrants Rights T-bills 4 prime market introduction issuers

5 TRADING ON THE LJUBLJANA STOCK EXCHANGE NEW LJSE MARKET STRUCTURE At the end of June 2008, the Exchange will launch a new securities market segmentation, which will be based on types of listed securities. The core division will now give: equity market, bond market, fund market, closed-end fund market and structured products market. The equity market will further be divided into sub-segments according to the quality of listed shares; highest quality - Prime Market, mid quality - Standard Market, basic equity market quality - Entry Market. By introducing changes to the structure of our stock market we intend to increase the quality of Exchange data and enhance the visibility of our market segments. This is in line with the development trends witnessed across European capital markets, and makes LJSE products and market segments comparable to those of other European stock exchanges. 31 Dec Apr 2008 No. of securities* issues Official market Prime market shares 8 7 Shares Bonds Funds 3 3 Semi-official market Shares Bonds Closed-end funds 7 7 Short-term securities 3 2 * Given under the current segmentation. PRIME MARKET Prime Market is the most prestigious LJSE market segment, which lists larger companies renown for their liquidity and transparent business operations. To investors, investing in Prime Market shares is a certain guarantee of quality, which makes it a relatively safe investment. A further important factor is lower transaction costs in the purchase or sale of Prime Market shares, which is a result of higher liquidity on this segment and is expressed through the total market depth measure (CGT). Prime Market issuers must have a CGT of less than 300, which means that a transaction worth EUR 7,500 moves the price of a share by less than 3 per cent. Average transaction costs for Prime Market shares come to less than 1 per cent. Prime Market lists shares of issuers that meet special quantitative and most recent liquidity criteria. Prime Market issuers comply with the requirement of additional disclosure in English (aside from Slovene), they publish their business results under International Financial Reporting Standards and provide quarterly reports, all in an effort to bring Slovenia's capital markets ever closer to the international investment community. Listing criteria for shares - Standard Market Quantitative criteria Years of operation 3 Financial statements Audited annual reports for three financial years Minimum value of capital EUR 2 mio Minimum size of class of shares EUR 1 mio Dispersion of class of shares in public min. 25 % Holders of class of shares min. 150 Disclosure criteria Publishing data on interim operations and declarations of compliance with the Corporate Governance Code. Meeting the good practices of disclosure pursuant to the Exchange Guidelines. Listing criteria for shares - Prime Market Quantitative criteria Minimum book value of capital EUR 50 mio Minimum size of class of shares EUR 1 mio Dispersion of class of shares in public min. 25 % Holders of class of shares min. 500 Liquidity criteria Minimum average daily number of trades min. 10 Minimum average daily volume min. EUR 40,000 CGT less than 300, with order size of EUR 7,500 Disclosure criteria Disclosure and reporting also pursuant to International Financial Reporting Standards (IFRS). Public announcements in English (as well as Slovene). Publishing statements on interim operations and declarations of compliance with the Corporate Governance Code. Meeting the good practices of disclosure pursuant to the Exchange Guidelines. prime introduction market issuers 5

6 TRADING ON THE LJUBLJANA STOCK EXCHANGE TRADING ON THE LJUBLJANA STOCK EXCHANGE Before trading Securities trading operates through brokerage firms and banks that are members of the Ljubljana Stock Exchange (a list of all member firms is available on the last page). To be able to trade on the Exchange, the investor must enter into a brokerage agreement with a brokerage firm and have a trading account opened in their name, for which they need the following documentation: valid personal identity document, for natural persons; extract from the court register, not older than 3 months, for Slovene legal persons; certified extract from the court or comparable register from the country of their registered office, for foreign legal persons; tax identification number; current account number that will be credited with assets. Types of investors Provisions of the Markets in Financial Instruments Act (ZTFI) stipulate the level of investor protection and informing of investors, especially with regard to their knowledge and experience in financial matters. ZTFI thus distinguishes between three categories of clients, given from the highest level of protection and disclosure to the lowest. The investor decides which category they wish to be treated as when they open their trading account. Client categories are: 1. retail client, 2. professional client, 3. eligible counterparty (only for certain investment services). Custody services Custody services are intended for foreign investors investing into Slovene securities. Custody services are subject to a special custody agreement, which investors can enter into with a Slovene bank authorized to render custody services or with a bank cooperating with the local custodian bank. A list of all banks authorized by the Bank of Slovenia to render custody services: BTS - Ljubljana Stock Exchange trading system At the LJSE, securities trading operates through the electronic trading system BTS. Client orders can only be entered into the BTS by member firms. Member firms authorize BTS traders to enter orders into the BTS, which they do electronically from their offices across Slovenia. Order entry into the BTS is possible each trading day between 9.30 and The BTS provides for the entry of different types of orders and various trading mechanisms, such as continuous and auction trading methods, volatility interruptions, liquidity providers and block trading. Continuous trading begins at 9.30 with an opening auction, whereby trade execution is possible immediately and orders are matched at current best bid and ask prices. The auction trading method is intended for less liquid securities; all trades in a security are executed at a single price determined by an algorithm that ensures the highest possible executable volume. Auction trading operates each trading day between and 11.50, in six groups of securities. Types of orders accepted by the BTS: market order limit order order without additional or special terms order with additional terms of method of display and execution range order with removal of non-executed portion order with hidden quantity order with additional terms of time of execution day order open order order until a specified date order with special terms of execution "all or none" order "minimum quantity all trades" order Clearing and settlement For trades transacted at the LJSE, the securities and cash from trades executed on a specific trading day (T+0) become irrevocably committed to settlement on that same day at The finality of transactions is achieved when the securities and purchase amount are transferred to the accounts of buyer and seller, on T+2 at 13:00. For clearing and settlement of trades executed on the regulated market, the Central Securities Clearing Corporation (KDD) system operates the so-called "BIS DVP Model 6 prime market introduction issuers

7 TRADING ON THE LJUBLJANA STOCK EXCHANGE TAXES Slovene investors International investors Legal persons Natural persons Legal persons Natural persons Interest 15% 20% 15% 20% Dividends 15% 20% 15% 20% Capital gains 22%** 20%* 22%** 20%* * Each 5 years the tax rate decreases by 5% ** In 2008 the tax rate is 22% and will fall to 20% by " settlement mechanism (netting on the cash side, gross securities transfers). All information on matched trades reaches the KDD through the automated link between the LJSE and KDD. During a trading day, the KDD continuously receives information on successfully concluded exchange trades, and it continuously calculates multilateral net cash claims and obligations of KDD settlement members. This is performed irrespectively of whether settlement members trade for their own account or for the accounts of their clients. Calculated cash claims fall due on T+2. Cash claims are settled through accounts with the Bank of Slovenia. Taxation of legal persons The taxation of corporate income is stipulated by the Corporate Income Tax. The tax base is taken to be the legal person's profit - the surplus of revenue over expenditure, as stipulated by law. The general tax rate in 2008 is 22%. It will fall by one percentage point per year until 2010, when it reaches 20%. Dividends, dividend-like types of income and interest are subject to a withholding tax, which means a payment at the rate of 15% off individual types of income by residents. With regard to withholding tax, the law stipulates certain further exemptions for non-residents. lowered every five years of ownership, while for interest and dividends the tax rate is 20%. Capital gains tax is considered to be a final tax. With regard to withholding tax, the law stipulates certain further exemptions for non-residents. Elimination of double taxation A non-resident taxable person may exercise their benefits (lowering of or exemption from paying income tax) arising from the provisions of international treaties on the elimination of double taxation of income, entered into between the Republic of Slovenia and other countries. To this end, the non-resident must enclose to their income tax statement the requisite documentation to enforce their tax concessions. More info: tax_treaties/. Taxation of natural persons In Slovenia, the taxation of personal income is stipulated by the Personal Income Tax Act. Income tax is a liability of natural persons and is a tax deduced off the income of natural persons, whereby income includes capital gains, dividends and interest. An important factor in setting the capital gains tax rate is the period of ownership; the income tax rate for capital gains is progressively prime introduction market issuers 7

8 TRADING ON THE LJUBLJANA STOCK EXCHANGE LJUBLJANA STOCK EXCHANGE INDICES LJSE indices are an important indicator of the trends on Slovenia's regulated capital market, and offer investors as well as the public an instant and concise update on the performance of the domestic capital market. SBI TOP on the other hand, is first genuine blue chip index in the history of the Ljubljana Stock Exchange. It comprises only the most liquid shares of the Slovene securities market and thus provides financial institutions with an underlying for derivative and structured financial instruments. Investment certificates issued on SBI TOP by foreign banks are traded at the Vienna, Frankfurt, Hannover, Stuttgart and Zürich Stock Exchanges. SBI 20 is the LJSE index that measures the preformance of the entire Slovene equity market. Its purpose is primarily to reflect the price movements of shares listed on the LJSE, and to serve as a benchmark for funds and other investors on the domestic capital market. Composition of SBI 20 from 1 April 2008: Participation Issuer rate KRKA 15.00% PETROL 15.00% TELEKOM SLOVENIJE 10.83% SAVA 10.75% MERCATOR 9.02% NOVA KREDITNA BANKA MARIBOR 8.04% GORENJE 6.77% PIVOVARNA LAŠKO 6.27% LUKA KOPER 5.88% INTEREUROPA 3.20% HELIOS, DOMŽALE 2.92% AERODROM LJUBLJANA 2.60% ISTRABENZ 1.66% LESNINA 1.08% ŽITO 0.98% Composition of SBI TOP from 1 April 2008: Participation Issuer rate KRKA 30.00% PETROL 14.17% TELEKOM SLOVENIJE 9.95% SAVA 9.88% MERCATOR 8.29% NOVA KBM 7.39% GORENJE 6.22% PIVOVARNA LAŠKO 5.76% LUKA KOPER 5.41% INTEREUROPA 2.94% 8 prime market introduction issuers

9 TRADING ON THE LJUBLJANA STOCK EXCHANGE ACCESSIBILITY OF DATA ON TRADING AND LISTED COMPANIES Access to relevant and timely data on securities trading and on listed companies' operations is crucial for successful securities trading. The LJSE web portal offers investors historical data on securities and comprehensive data on official market issuers, while the LJSE electronic information dissemination system SEOnet ( - Slovenia's central venue for disclosure of regulated information - offers up-to-date disclosure announcements. Investors can therefore access all the most important information needed to make informed investment decisions, free of charge: summaries of annual and semi-annual reports and financial statements; quarterly reports of Prime Market issuers; information on any business or other events regarding the business activities of an issuer that may considerably affect prices of securities (general meetings, dividend payments, new securities issues, material changes in the ownership structure, concluded contracts of significant importance, legal proceedings, mergers and acquisitions, etc); listed companies' prospectuses; announcements of the Ljubljana Stock Exchange and other capital market institutions; short notifications regarding public announcements of issuers published in other media. Slovene vendors that offer real-time or delayed LJSE trading data: Abanka, d. d. Certius BPH, d. o. o. Delo, d. d. GBD Gorenjska borznoposredniška družba, d. d. Ilirika borznoposredniška hiša, d. d. KD borznoposredniška družba, d. o. o. Mojdenar, d. o. o. Poslovni časnik Finance, d. o. o. Poteza, d. d. Publikum, d. d. International vendors: Bloomberg Europoint Systems Thompson Financial Limited Reuters VENDORS Investors can follow the prices of securities listed on the LJSE realtime through international and Slovene authorized vendors, which receive trading data from the LJSE. The LJSE also offers end-of-day trading data to investors, to support analysis and investment decisions. Those who wish to can receive daily s from the LJSE sent after the close of trading, with a txt file, which includes the price list and other useful trading data for the respective trading day. prime introduction market issuers 9

10 DEVELOPMENT OPPORTUNITIES SLOVENE CAPITAL MARKETS - DEVELOPMENT OPPORTUNITIES Having adopted the euro in 2007, the Slovene capital market has proved it is capable of adjusting to the new market conditions, and with the implementation of the MiFID and Slovene Markets in Financial Instruments Act (ZTFI) it is entering a new era. In the future, the Slovene market is bound to intensely integrate into other EU capital markets and witness severe competition from foreign stock exchanges as well as investment firms. This is the time when the LJSE must take the opportunity to promote and push the development of the Slovene capital market. Like the other European stock exchanges, the LJSE has recognized an opportunity to do this also through public offerings, open capital increases of listed companies, opening-up of small and mid-size companies, wider array of structured market products, continued widespread sales of large stakes in companies prior to their listing, and privatization of state-owned companies. The infrastructure of the Slovene capital market is comparable to that of developed European capital markets, as is the regulatory system, which is gradually still improving. The ZTFI, adopted in November 2007, has established a new regulatory framework and enabled the Exchange to do business in line with current European standards. The LJSE thus needs to capitalize on raising the quality of the regulated market, introducing new products and services, and increasing the Exchange's market share on the Slovene capital markets, while it must also cut expenses in areas where its services are partially competitive. Also at the end of 2007, the exchange also provided all member firms with a new service facilitating trade transparency for trades in securities listed on the Exchange but executed offexchange. This has given members the opportunity to publish in the BTS system all trades in shares executed for their own account or for the account of a client outside the regulated market or through an MTF, and disseminate these data to vendors. This service currently has 20 users - 19 member firms and 1 bank that is not a LJSE member. ENHANCING LIQUIDITY Given that over the past year the liquidity of securities traded on the LJSE has improved considerably, the LJSE decided to adjust its liquidity criteria to retain individual segments representative. The new, more stringent liquidity criteria are as follows: To be traded continuously, a share must have Average daily no. of trades > 1 Average daily turnover > EUR 2,000 CGT < 1,000, for an order size of EUR 7,500 An important factor influencing an investor's decision to buy and sell shares is transaction costs. On the Prime Market shares reach highest trading volumes and therefore transaction costs there are much lower than on other market segments. An investor buying EUR 7,500 worth of Prime Market shares at the end of February 2008 would, on account of moved market prices, have to cover "hidden costs" in the amount of 1.5% of the investment. CHANGES IN TRADING TO INCREASE MARKET QUALITY The LJSE has continuously introduced improvements and new trading mechanisms to keep up with and adjust to new market conditions, and thereby increase the quality and liquidity of the regulated market. At the end of October 2007, the Exchange set up regulated block trading, so that block trades are now included in the total turnover of a security, and launched cross trades, which is a service operating within the regulated market but comparable to a systematic internaliser (SI). By introducing regulated block trading and cross trades, the Exchange is complying with the standards of trading and best execution stipulated by the ZTFI. 10 prime market introduction issuers

11 DEVELOPMENT OPPORTUNITIES Annual turnover Average daily Average daily rate no. of trades turnover in 2007 CGT SHARE LIQUIDITY 31 Dec 2007 in 2007 (in EUR mio) 29 Feb 2008 GORENJE INTEREUROPA KRKA , LUKA KOPER MERCATOR NOVA KBM* , PETROL , TELEKOM SLOVENIJE *Nova KBM is listed on the official market, first trading day 10 December NEW PRODUCTS AND SERVICES As to new Exchange products and services, we have been focusing on the trading and settlement infrastructure for investment certificates and other structured products, while the listing of openend funds on the LJSE is already possible. Investors benefit from the listing of new products on the Exchange in several ways - this increases their choice of investment opportunities, enables new trading strategies and provides them with links to other capital markets. As for its structured products, the LJSE currently enables trading in open-end fund shares and ETF shares. The advantages of listing such financial instruments are predominantly the fact that the purchase of open-end fund shares on an exchange includes no entry or exit fees (although brokerage fees are charged) and that shares can be bought and sold at current market prices all day long. Such investments are also more liquid and the investor can always check the fund's portfolio. An important novelty at the Ljubljana Stock Exchange is the possibility of remote access to the Exchange trading system for member firms. Remote membership is intended for brokerage firms from other member states who would like to trade on the LJSE electronic order book BTS through remote access, enabled by the LJSE through the Internet. They can thus provide their clients from outside Slovenia the opportunity to trade on the LJSE and enable them to directly enter the Slovene capital market. To this end, the LJSE amended its Rules in 2007, which now allow for remote access to the Exchange trading system. ENHANCING THE QUALITY OF LISTED COMPANIES Along with changes in our trading system we have also continued listing new companies and systematically transferring listed companies into higher market segments. In attracting new companies, there are chiefly two objectives we want to achieve: provide large and rapidly developing companies from Slovenia and close-by with an adequate and efficient market for trading in their shares, expand the range of exchange-listed products offered to investors. The new legislation imposes more strict obligations on listed companies regarding interim reporting, while the Guidelines on Disclosure for Listed Companies guide listed companies into more transparency, increased visibility and openness, thus preventing information asymmetry. In the future we expect listed companies to drift apart in their level of compliance with these obligations. The LJSE has been expanding its offer of quality products by transferring listed companies with a relatively high market capitalization, a large number of shareholders, solid liquidity and satisfactory disclosure track record onto higher market segments. Special attention has also been given to companies entering the regulated market for the first time, because disclosure standards there are most stringent. These issuers are invited to special meetings prior to their listing, where they learn about the rules and guidelines on disclosure and best practices of handling inside information. prime introduction market issuers 11

12 DEVELOPMENT OPPORTUNITIES Corporate Governance Code By participating in the setting of corporate governance standards for listed companies, the Ljubljana Stock Exchange strives to enhance the corporate governance practices of its issuers. The adoption of the Code brought more transparency into the corporate governance, management and supervision on the Slovene capital market, while investors and other interest groups have been given the opportunity to learn of and assess the corporate governance risks of a company. The third version of the Code was adopted in 2007, after being harmonized with the new legislation. Along with regulatory changes, the amended Code considered the results of an analysis of declarations of compliance with the Code as published by listed companies, as well as took note of the issuers' opinions and comments on the content of the second version of the Code, and of EU guidelines. BEST INVESTOR RELATIONS AWARD In 2007, the Ljubljana Stock Exchange adjusted its assessment concept for the PORTAL prize, which dates from The new Portal prize for best investor relations stresses the need for skilled communication with all interest groups (investors, analysts, media, etc) and looks at more than just the issuers' disclosure, which was the case so far. The winner is now selected by a 12-member assessment board that applies a two-level assessment method, using 10 criteria and reviewing issuers' questionnaires. Each year, the LJSE is looking for the issuer that has demonstrated rolemodel corporate communication methods during the assessment period (from October of the previous year up to September of the current year) and is thus setting a guideline for other issuers to follow. The Portal prize winner for 2007 was pharmacist Krka d. d., who disclosed information on its operations, current situation and plans in a prompt, fair and expedient manner. It was especially exemplary the way it communicated with and built relationships with analysts and international investors. 12 prime market introduction issuers

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14 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 Contact person Ms Bojana Rojc, IRO Phone bojana.rojc@gorenje.si 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 65 subsidiaries, 47 of which are situated abroad. In terms of business operation, the companies are grouped into three divisions, as follows: Household Appliances, Home Interior and Trade and Services. 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 70 countries across the globe with 3.9 million household appliances sold on an annual basis, 80% thereof under the Gorenje brand. It has 58 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. In 2007, the Gorenje Group posted a significant 16.4% growth with net sales exceeding EUR 1.29 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 TURNOVER AND SHARE PRICE OF GORENJE IN THE PAST YEAR (in EUR) 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. 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". SHARE AND COMPANY DATA (AS OF 30 APRIL 2008) Free-float market capitalisation 334,209,223 EUR Average daily turnover 445,018 EUR Turnover ratio 0.22 No.of shareholders 20,528 International ownership (in %) 9.38% Source: Ljubljana Stock Exchange. CONSOLIDATED BUSINESS RESULTS according to IFRS Plan % CHANGE 1Q Q 2007 % CHANGE Net sales revenue (in 000 EUR) 1,300,352 1,293,438 1,111, % 303, , % Net profit (in 000 EUR) 26,503 23,664 22, % 5,353 4, % EBIT (in 000 EUR) 42,502 36,233 30, % 10,745 10, % EBITDA (in 000 EUR) 98,078 89,444 80, % 24,904 23, % Net profit per share (in EUR) % % Source: Gorenje, d.d. 30 April 2008 Official market average P/E P/B P/S Dividend yield (in %) 1.17% 1.41% Capital gain in 52 weeks (in %) 0.28% -3.68% Comment: SBI 20 index gain represents average capital gains. Source: Ljubljana Stock Exchange. 14

15 Globalni Logistics logisti~ni Service servis 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 Ltd. Co., Vojkovo nabrežje 32 SI-6000 Koper Contact person Mr Vado Keranović, Executive Manager Of Managing Board for Finance, Accounting and Controlling Phone Fax vado.keranovic@intereuropa.si Intereuropa group is the leading provider of logistical services in Slovenia and South-eastern Europe and a successful logistics Group with large development possibilities. The group has employee, nearly 611 trucks and delivery vans, and qm of warehouses are used to service our logistical capacities. Our corporate vision is to be clearly recognisable as the leading provider of integral logistical services in Central and SE Europe. The corporate motto is: "From partial to an integral range of logistical services!" We implement our mission by satisfying our customers' needs for logistical services at optimum conditions and to their full satisfaction. We are achieving it by reliability, speed and safety of our services, at competitive prices. Intereuropa is an expert in the field of logistics services. We provide air freight, sea freight and land transport services, 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 know-how 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, Montenegro, Russia, Germany, France, Kosovo and Ukraine. In these countries we have subsidiaries companies with a network of operational units and logistics terminals. We envision opening our own companies in Romania, Bulgaria and Albania, and aim to enter new markets of Central Asia and the Far East with our logistical projects. In other European countries and worldwide we support our logistical solutions on a network of reliable business partners. The Group's development is ensured through introduction of new services and their upgrading. 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. TURNOVER AND SHARE PRICE OF INTEREUROPA IN THE PAST YEAR (in EUR) SHARE AND COMPANY DATA (AS OF 30 APRIL 2008) Free-float market capitalisation 149,536,076 EUR Average daily turnover 211,956 EUR Turnover ratio 0.18 No.of shareholders 5,963 International ownership (in %) 2.53% Source: Ljubljanska borza, d.d. CONSOLIDATED BUSINESS RESULTS according to IFRS Plan % CHANGE 1Q Q 2007 % CHANGE Net sales revenue (in 000 EUR) 335, , , % 62,951 54, % Net profit (in 000 EUR) 12,715 26,477 6, % 1,732 22, % EBIT (in 000 EUR) 25,133 12,802 6, % 4,222 2, % EBITDA (in 000 EUR) 42,059 25,974 18, % 7,901 5, % Net profit per share (in EUR) % % Source: Intereuropa, d.d. 30 April 2008 Official market average P/E P/B P/S Dividend yield (in %) 2.63% 1.41% Capital gain in 52 weeks (in %) -24,42% -3.68% Comment: SBI 20 index gain represents average capital gains. Source: Ljubljana Stock Exchange 15

16 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 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 Europe with over 50 years of experience and strong focus on branded generic prescription pharmaceuticals (Rx). With an extensive Rx portfolio supplemented by selfmedication (OTC), animal health and cosmetic products, Krka serves customers with its own marketing and sales network in more than 70 markets. Experience gained in our key markets in central and eastern Europe is used for consolidation of our position in other parts of Europe. Krka focuses on European and central Asian markets, and on pharmaceutical-chemical business aiming to achieve a leading position in selected key markets. In the future Krka plans to achieve average annual sales growth of over 10% based on organic development and acquisitions of product lines, market shares and companies. We use an advanced vertically integrated business model to develop and launch valueadded branded products in core therapeutic areas. Krka is focused on medicines for the treatment of cardiovascular and alimentary tract and metabolism diseases, on the general antiinfectives, and the central nervous system disorders and diseases. Skilful management of the regulatory procedures in 2007 led to the successful acquisition of 424 marketing authorisations in 1325 different forms. The first marketing authorisation was achieved for 10 new products in 22 pharmaceutical forms. The sales of new products (Rx and OTC) introduced in the last 5 years represented 47% of overall sales for Krka promotes creativity and innovation, motivation, and an entrepreneurial and target-oriented approach. We uphold our economic, social and ecological responsibility to the environment in which we operate. Our future growth is based on increased focus on marketing, further development of the advanced vertically-integrated business model, economics of scale, new product development (niche products and new indications), development of IT support of the business, and generic industry growth due to health care cost saving efforts, emergence of new generic markets, and patent expiries of blockbuster drugs. Krka's strategy is to remain independent and exploit industry consolidation opportunities. TURNOVER AND SHARE PRICE OF KRKA IN THE PAST YEAR (in EUR) SHARE AND COMPANY DATA (AS OF 30 APRIL 2008) Free-float market capitalisation 2,386,965,200 EUR Average daily turnover 2,132,645 EUR Turnover ratio 0.15 No.of shareholders 69,606 International ownership (in %) 7.46% Source: Ljubljanska borza, d.d. CONSOLIDATED BUSINESS RESULTS according to IFRS Plan % CHANGE 1Q Q 2007 % CHANGE Net sales revenue (in 000 EUR) ,91% ,67% Net profit (in 000 EUR) ,53% ,57% EBIT (in 000 EUR) n.a ,55% ,06% EBITDA (in 000 EUR) n.a ,03% ,48% Net profit per share* (in EUR) 4,73 3,92 3,30 18,79% 5,21 4,51 15,52% *Net profit per share for 1Q 2008 and 1Q 2007 is annualized. Source: Krka, d.d. 30 April 2008 Official market average P/E P/B P/S Dividend yield (in %) 0.84% 1.41% Capital gain in 52 weeks (in %) 8.00% -3.68% Comment: SBI 20 index gain represents average capital gains. Source: Ljubljana Stock Exchange 16

17 RIC Bloomberg: LKPG RIC Reuters: LKPG.LJ Thomson Datastream Code: Thomson One Code: LKPG-LJ LUKA KOPER, d.d., Koper trading code: LKPG Company address Luka Koper, d.d., Vojkovo nabrežje 38 SI-6501 Koper Contact person Mr Sebastjan Šik, PR Director Phone sebastjan.sik@luka-kp.si Mr Tomaž Deisinger, Finance Department Phone tomaz.deisinger@luka-kp.si Port and Logistics 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 2007 the total throughput of cargo surpassed reached 15.4 million tonnes, and the company generated million euros in operating revenue and a net profit of majority shareholders of million euros. In 2008 a further growth of maritime throughput is anticipated, as well as the improvement of cargo structure with emphasisi on higher value added cargoes such containers, TURNOVER AND SHARE PRICE OF LUKA KOPER IN THE PAST YEAR (in EUR) cars and perishable goods. An Ideal Entrepôt for Central and Eastern Europe The basic vision of the company is to become a leading port and logistics system provider for the countries of Central and Eastern 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. In addition, Luka Koper will spread the network of hinterland terminals along important transport corridors. The importance of Luka Koper as a distribution centre for its broader Central and Eastern European hinterland is thus predicted to increase. Source: Ljubljanska borza, d.d SHARE AND COMPANY DATA (AS OF 30 APRIL 2008) Free-float market capitalisation 263,878,539 EUR Average daily turnover 446,190 EUR Turnover ratio 0.19 No.of shareholders 14,154 International ownership (in %) 1.99% CONSOLIDATED BUSINESS RESULTS according to IFRS Plan % CHANGE 1Q Q 2007 % CHANGE Net sales revenue (in 000 EUR) 123, , , % 35,453 31, % Net profit (in 000 EUR) 33,055 30,124 19, % 8,242 6, % EBIT (in 000 EUR) 23,692 23,395 19, % 8,686 7, % EBITDA (in 000 EUR) 43,91 40,033 33, % 13,257 12, % Net profit per share* (in EUR) % % * Net profit per share is calculated based on ordinary shares Source: Luka Koper 30 April 2008 Official market average P/E P/B P/S Dividend yield (in %) 1.71% 1.41% Capital gain in 52 weeks (in %) % -3.68% Comment: SBI 20 index gain represents average capital gains. Source: Ljubljana Stock Exchange 17

18 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 Contact person Ms Melita Kolbezen, Executive Director of Finance, Accounting, Controlling, and Internal Audit Phone melita.kolbezen@mercator.si Mercator is the largest and most eminent Slovene company. It is successful in spreading to and winning strong market positions on new markets; with top products, offer and services it meets the expectations and realises the wishes of customers and adjusts to their needs and lifestyles. Revenues, which exceeded EUR 2,4 billion in the past year, were in line with Mercator's ambitious business plan. In the environment of fierce competition, revenue growth was predominantly the result of marketing activities, along with significant development and investment activities, while cost effectiveness was achieved through an optimisation and rationalisation of operations. The business achievements in 2007 testify to a successful realisation of the growth strategy of the Mercator Group and stand as a solid foundation for future expansion in the years to come will thus see us consistently apply the set strategic policies of the Mercator Group and realise our vision of becoming the leading retailer with FMCG program (market program) in the region of South Eastern Europe. Retail trends in Slovenia compare to those across Europe, with the consolidation of trade chains, spotlighting of trade brands and the development of new sales formats and trade technologies in the forefront. Maintaining and increasing customer loyalty remain one of the key strategic priorities of the Mercator Group, with Mercator's employees being an important driver of its business success. Mercator initiates economic and social development of every environment it operates in. We favour local producers and employ local workers. It is our very integration into local environments and our understanding of consumers that helps us develop innovative ideas and solutions across the entire scope of our offer. We also create consumer and employee friendly and orderly environment, while at the same time enhance the quality of our offer of goods and services. The character and respectability of the Mercator Group corporate brand are distinguished by its strategic development policy, characteristic corporate culture with a high level of employee loyalty and satisfaction, social responsibility and care for the future. We personalise the relationship with our customers through professional services and smile. As a consequence the customers trust us and keep coming back. Mercator will carry its mission of The Best Neighbour well into the future, and continue to provide its customers with top offer, quality and contemporary shopping comfort. TURNOVER AND SHARE PRICE OF MERCATOR IN THE PAST YEAR (in EUR) SHARE AND COMPANY DATA (AS OF 30 APRIL 2008) Free-float market capitalisation 385,530,761 EUR Average daily turnover 454,231 EUR Turnover ratio 0.10 No.of shareholders 17,508 International ownership (in %) 12.42% Source: Ljubljanska borza, d.d. CONSOLIDATED BUSINESS RESULTS according to IFRS Plan % CHANGE 1Q Q 2007% CHANGE Net sales revenue (in 000 EUR) 2,627,903 2,445,258 2,064, % 610, , % Net profit (in 000 EUR) 40,556 43,814 30, % 9,325 8, % EBIT (in 000 EUR) 90,574 81,441 50, % 20,928 19, % EBITDA (in 000 EUR) 176, , , % 44,228 38, % Net profit per share (in EUR) % % Source: Mercator, d.d. 30 April 2008 Official market average P/E P/B P/S Dividend yield (in %) 1.58% 1.41% Capital gain in 52 weeks (in %) % -3.68% Comment: SBI 20 index gain represents average capital gains. Source: Ljubljana Stock Exchange 18

19 RIC Bloomerg: KBMR SV RIC Reuters: NKBM.LJ Thomson Datastream Code: 51623F Thomson One Code: KBM-LJ NKBM, d.d., Maribor trading code: KBMR Company address Nova KBM, d.d., Vita Kraigherja 4, SI-2505 Maribor Contact person Mr Igor Muhič, General Manager, Investment Banking Department Phone imuhic@nkbm.si Mr Bojan Strahija, Manager, Investment Banking, Securities Trading Phone bstrahija@nkbm.si Nova Kreditna banka Maribor d.d. is the financial pillar of the region and the ally of the social and economic environment in which it operates. To individual and corporate customers, it offers a whole range of mainstream banking services as well as investment banking, modern banking channels and other financial services. Nova KBM d.d. is the second largest bank in Slovenia by total assets. Total assets of the Bank amounted to 4,218,792 thousand as at the end of 2007, 15 per cent over the 2006 year-end figure. The market of share of Nova KBM d.d. and PBS d.d. jointly accounted for 11.5 per cent as at the end of year Nova KBM d.d. is the controlling company within the Nova KBM Group. Apart from Nova KBM d.d., nine other Group members are headquartered in Slovenia. One is registered in Austria and two in Croatia. The Group is indirectly present in the Slovak Republic, in the Czech Republic, Hungary, the Republic of Serbia, Montenegro and in the Republic of Macedonia. Companies within the Group conduct a various operations: from mainstream banking and insurance services, managing of pension and investment funds, to the marketing of non-deposit investment products. In TURNOVER AND SHARE PRICE OF NOVA KBM IN THE PAST YEAR (in EUR) addition, the Group offers specialised financial services such as investment advisory services together with project monitoring, leasing of movable and immovable property, construction and sale of buildings and real estate brokerage services. Nova KBM Group is the only group in Slovenia which can offer to its clients an extensive range of banking products and services through the PBS branch office network comprised of 647 postal units. Competitive advantages of the Nova KBM Group are as follows: strong market position in Slovenia, an extensive national distribution network, favourable composition of funding, an enhanced cross-selling potential due to a large number of deposit customers among households, strong position in corporate banking, a wide and innovative range of services, high growth in loans and deposits, focused international diversification and the stable and experienced management. After the initial public offering (IPO), which took place in November 2007 as the first IPO in Slovenia, the ownership of the bank changed. As at the end of the year of 2007, Nova KBM had more than shareholders. The rating agency FITCHRatings assigned to the Bank the ratings of A- and F2, and Moody's Investors Service the ratings of A1 and P-1. SHARE AND COMPANY DATA (AS OF 30 APRIL 2008) Free-float market capitalisation 347,606,599 EUR Average daily turnover 1,357,264 EUR Turnover ratio 0.47 No.of shareholders 103,446 International ownership (in %) 6.11% Source: Ljubljanska borza, d.d. CONSOLIDATED BUSINESS RESULTS according to IFRS Plan % CHANGE 1Q Q 2007% CHANGE Net sales revenue (in 000 EUR) 257* * * % 37*807 49* % Net profit (in 000 EUR) 48,640 56,061 45, % 18,478 10, % EBIT (in 000 EUR) 64,853 70,933 55, % 24,088 14, % EBITDA (in 000 EUR) 77,950 82,630 66, % 27,253 16, % Net profit per share* (in EUR) % % * For comparative reasons all data were adapted to the split ratio 1:8 Source: Nova KBM, d.d. 30 April 2008 Official market average P/E P/B P/S Dividend yield (in %) 2.12% 1.41% Capital gain in 52 weeks (in %) % -3.68% Comment: SBI 20 index gain represents average capital gains. Source: Ljubljana Stock Exchange prime standard market market issuers issuers 19

20 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., Ljubljana, Dunajska 50 SI-1527 Ljubljana Contact person Ms Barbara Jama Živalič, Director Financial Support to the Petrol Group Phone barbara.jama@petrol.si The Petrol Group is the largest Slovene energy group and the second largest Slovene group in terms of revenue. Today, Petrol is a regional partner providing comprehensive energy supply on the road and at home. Reliability, well-planned organic growth, unconditional respect for the environment and strategic presence that relies on a growing network of over four hundred service stations. In addition to our umbrella brand, Petrol, we successfully manage several product brands, which include the customer card Magna, the network of Hip Hop shops at service stations, and the environmentally friendlier Petrol Primadiesel. Customer satisfaction measurements, solid financial indicators and awards for business and environmental excellence received by Petrol in 2007 attest to our good work. In addition to the parent company, the Petrol Group consists of six domestic subsidiaries, ten foreign subsidiaries, seven joint ventures and six 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. The Petrol Group's core line of business is petroleum and merchandising, and its main competitive advantage is its wide network of 414 state-of-the-art service stations in Slovenia and abroad. In addition to the parent company, twelve of the subsidiaries, seven joint ventures and two affiliates in the Petrol Group are also engaged in the sale of petroleum products, merchandise and services. Our key activity is successfully expanded to other areas in accordance with the company's strategy. The Petrol Group has added the production, sale and distribution of electricity and heat, and the production and distribution of natural gas and liquefied petroleum gas to its current volume of energy business. Projects related to the efficient use of energy and environmental projects including waste water treatment belong to a special development area. The energy and ecology areas are covered by four subsidiaries and four associated companies within the Petrol Group. The Petrol Group's comprehensive business operations are dedicated to promoting business excellence and are based on monitoring and following contemporary market requirements in the area of services, information technology and environmental protection. At Petrol, we feel that we are particularly responsible to our customers, suppliers, business partners, shareholders and to the society as a whole. 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 business performance, capital structure, shareholder's expectations, investment opportunities and risks, borrowing capacity and tax aspects. TURNOVER AND SHARE PRICE OF PETROL IN THE PAST YEAR (IN EUR) SHARE AND COMPANY DATA (AS OF 30 APRIL 2008) Free-float market capitalisation 715,616,860 EUR Average daily turnover 955,234 EUR Turnover ratio 0.16 No.of shareholders 39,950 International ownership (in %) 1.44% Source: Ljubljanska borza, d.d. CONSOLIDATED BUSINESS RESULTS according to IFRS Plan % CHANGE 1Q Q 2007 % CHANGE Net sales revenue (in 000 EUR) 2,300,000 2,109,464 1,941, % 647, , % Net profit (in 000 EUR) n/a 53,256 49, % 15,559 9, % EBIT (in 000 EUR) 56,300 50,462 47, % 16,893 10, % EBITDA (in 000 EUR) n/a 77,023 73, % 24,204 16, % Net profit per share* (in EUR) n/a % % * Net profit per share without treasury shares for Petrol d.d., Ljubljana Source: Petrol d.d., Ljubljana 30 April 2008 Official market average P/E P/B P/S Dividend yield (in %) 0.88% 1.41% Capital gain in 52 weeks (in %) 1.52% -3.68% Comment: SBI 20 index gain represents average capital gains. Source: Ljubljana Stock Exchange 20

21 RIC Bloomberg: TLSG SV RIC Reuters: TLSG.LJ Thomson Datastream Code: 41251Q Thomson One Code: TLSG-LJ 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.s 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 Slovenije d.d. subsidiaries, located in Slovenia are Mobitel, d.d., leading and most advanced mobile operator, 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 and Interseek d.o.o., the owner of the most popular and well known Slovenian search engine Najdi.si, with its network in Croatia, Serbia and Macedonia. International subsidiaries in majority ownership of Telekom Slovenije d.d. are Ipko.net in Kosovo with fix, mobile and internet licence, BlicNet in Bosnia & Herzegovina as internet service provider and On.net in Macedonia, fix and internet service provider, while Telekom Slovenije d.d. also ownes 50% of Gibtelecom, a full service telecommunication provider from Gibraltar. Strategic guidelines Changing the companies' cul- ture 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 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. 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! TURNOVER AND SHARE PRICE OF TELEKOM SLOVENIJE IN THE PAST YEAR (in EUR) SHARE AND COMPANY DATA (AS OF 30 APRIL 2008) Free-float market capitalisation 443,312,051 EUR Average daily turnover 812,391 EUR Turnover ratio 0,09 No.of shareholders 12,983 International ownership (in %) 3.36% Source: Ljubljanska borza, d.d. CONSOLIDATED BUSINESS RESULTS according to IFRS Plan % CHANGE 1Q Q 2007 % CHANGE Net sales revenue (in 000 EUR) n/a 780, , % 186, , % Net profit (in 000 EUR) n/a 88, , % 23,650 22, % EBIT (in 000 EUR) n/a 136, , % 35,938 33, % EBITDA (in 000 EUR) n/a 298, , % 80,936 71, % Net profit per share (in EUR) n/a % % Source: Telekom Slovenije. d.d. 30 April 2008 Official market average P/E P/B P/S Dividend yield (in %) 2.50% 1.41% Capital gain in 52 weeks (in %) % -3.68% Comment: SBI 20 index gain represents average capital gains. Source: Ljubljana Stock Exchange 21

22 KDD - Central Securities Clearing Corporation Ljubljana Company address KDD - Central Securities Clearing Corporation Tivolska c. 48 SI-1000 Ljubljana Contact person Mr Vid Slamič, General Manager, International Relations Department Phone info@kdd.si KDD was founded on 10 january, 1995 as a company providing central securities custody services, clearance and settlement of securities transactions and maintenance of the central registry of holders of dematerialised securities in the Republic of Slovenia. KDD's founders and shareholders are banks, stockbroking firms, fund management companies, government funds and issuers. KDD is presently the only institution in Slovenia licensed by the Securities Market Agency to perform central securities depository services. KDD provides the following services to its clients; i.e. members, issuers and holders of dematerialised securities entered into KDD's central registry: calculating, netting and settling obligations with respect to stock exchange transactions (T+2 settlement), settlement of obligations with respect to off-market transactions (DVP and FOP; intraday settlement finality) issue, cancellation or replacement of dematerialised securities, maintenance of central registry of holders of dematerialised securities, take-over bid procedures, custody services, other services related to securities transactions and exercising of rights on securities. As of December 31, 2007, KDD had 24 registry members (users of information system of dematerialised securities accounts maintenance) and 24 settlement members (participants in settlement information system). KDD member acts as an operator of clients' accounts (owned either by natural persons or legal entities) and house accounts. Establishing of fiduciary accounts is also supported. As of December 31, 2007, there were 716,486 securities accounts opened in the KDD's system by 662,153 holders. Total of 995 securities were issued and registered in central registry by 803 issuers. Total value of transactions settled in 2007 on organised market segment amounts to 2,190 mio, and 390 mio on OTC-DVP segment. According to standards set by ECB, KDD's settlement system is considered as eligible for the use in Eurosystem monetary policy and intraday credit operations. Operating hours of KDD's system are fully compliant with TAR- GET2 settlement system requirements. KDD has fulfilled all requirements of Code of Conduct for Clearing and Settlement, drafted by the European Commission. The objective of the Code of Conduct is to enable investors to trade any European security within a consistent, coherent and cost-efficient European framework and to offer to market participants the freedom to choose their preferred provider of trading and post-trading services. KDD has established operated direct links (via custody bank) with ICSDs Clearstream Banking Luxembourg and Euroclear Bank. Those links facilitate transfer of securities issued within KDD's system to both foreign systems and demonstrate the international nature of our business. KDD will always be looking to further expand market access through its infrastructure and to create innovative and reliable solutions in response to customer demand. 22