The first session of the Tender Committee for Društvo za proizvodnju derivata nafte Fabrika maziva društvo sa ograničenom odgovornošću, Kruševac

The first session of the Tender Committee for monitoring of the tender procedure for sale of 70% of the total registered capital of the company: Društvo za proizvodnju derivata nafte Fabrika maziva društvo sa ograničenom odgovornošću, Kruševac, commenced on November 23, 2006. Continuation of the first session and public opening of the bids for acquisition of the company’s capital took place on December 5, 2006.

By the final deadline for submission of bids - November 17, 2006 by 17:00 hours local time, ten bids were submitted, as follows: Burgoil company, Bourgas, Bulgaria; Evropetroleum ood, Plovdiv, Bulgaria; Euro gas d.o.o, Subotica, Republic of Serbia; Consortium MBS (comprising of Res Trade d.o.o. Novi Sad, Republic of Serbia and MBS Tehno d.o.o. Belgrade, Republic of Serbia); Mol Lub Plc, Budapest, Hungary; Neochimiki L.V. Lavrentiadis s.a., Greece; Orka d.o.o., Ljubljana, Slovenia; Consortium comprising of Preduzeće za puteve Beograd a.d., Belgrade, Republic of Serbia and Petrobart d.o.o., Belgrade; Republic of Serbia; Orlen oil, Spolka z.o.o., Krakow, Poland and Prista oil a.d., Sofia, Bulgaria.

Based on the analysis of the qualification documents submitted by all ten Bidders, and the opinion of the Advisor to the Privatization Agency, the Tender Committee established that the Bidders Burgoil company, Bourgas, Bulgaria; Evropetroleum ood, Plovdiv, Bulgaria; Euro gas d.o.o, Subotica, Republic of Serbia; Consortium MBS (comprising of Res Trade d.o.o. Novi Sad, Republic of Serbia and MBS Tehno d.o.o. Belgrade, Republic of Serbia); Mol Lub Plc, Budapest, Hungary; Neochimiki L.V. Lavrentiadis s.a., Greece; Orka d.o.o., Ljubljana, Slovenia; Consortium comprising of Preduzeće za puteve Beograd a.d., Belgrade, Republic of Serbia and Petrobart d.o.o., Belgrade; Republic of Serbia; and Prista oil a.d., Sofia, Bulgaria, fulfill the qualification requirements defined in the Public Invitation and Instructions to Bidders, whereas the bid submitted by the Bidder Orlen Oil Spolka. z.o.o., Krakow, Poland was rejected as incomplete.

Taking into account that the shares of some of the bidders are listed in nationally organized financial markets, the Privatization Agency hereby preliminarily announces the basic elements of the bids that were subject of the public opening:

Basic elements of the bid submitted by the Bidder Consortium comprising of Preduzeće za puteve Beograd a.d., Belgrade, Republic of Serbia and Petrobart d.o.o., Belgrade:

1. Purchase Price in the amount of EUR 25.000.000,00
2. Total Investment Program in the amount of EUR 10.000.000,00

Basic elements of the bid submitted by the Bidder Prista oil a.d., Sofia, Bulgaria:

1. Purchase Price in the amount of EUR 21.524.000,00
2. Total Investment Program in the amount of EUR 3.150.000,00

Basic elements of the bid submitted by the Bidder Orka d.o.o., Ljubljana, Slovenia:

1. Purchase Price in the amount of EUR 17.250.000,00
2. Total Investment Program in the amount of EUR 5.990.000

Basic elements of the bid submitted by the Bidder Mol Lub Plc, Budapest, Hungary:

1. Purchase Price in the amount of EUR 16.280.000,00
2. The Bidder did not offer Investment Program

Basic elements of the bid submitted by the Bidder Consortium MBS (comprising of Res Trade d.o.o. Novi Sad, Republic of Serbia and MBS Tehno d.o.o. Belgrade, Republic of Serbia):

1. Purchase Price in the amount of EUR 15.501.330,00
2. Total Investment Program in the amount of EUR 9.325.000,00


Basic elements of the bid submitted by the Bidder Evropetroleum ood, Plovdiv, Bulgaria:

1. Purchase Price in the amount of EUR 15.150.000,00
2. Total Investment Program in the amount of EUR 9.325.000,00

Basic elements of the bid submitted by the Bidder Euro gas d.o.o, Subotica, Republic of Serbia:

1. Purchase Price in the amount of EUR 14.100.000,00
2. Total Investment Program in the amount of EUR 2.900.000,00

Basic elements of the bid submitted by the Bidder Burgoil company, Bourgas, Bulgaria:

1. Purchase Price in the amount of EUR 12.120.000,00
2. Total Investment Program in the amount EUR of 9.325.000,00


Basic elements of the bid submitted by the Bidder Neochimiki L.V. Lavrentiadis s.a., Greece:

1. Purchase Price in the amount of EUR 10.100.000,00
2. Total Investment Program in the amount of EUR 9.000.000



Official results of the tender shall be announced after the second session of the Tender Committee scheduled for the next week, and upon evaluation of the bids in accordance with procedure set out in the Instructions to Bidders and final ranking of the bidders in the tender process for sale of 70% of the total registered capital of the company: Društvo za proizvodnju derivata nafte Fabrika maziva društvo sa ograničenom odgovornošću, Kruševac.