Public invitation for participation in the public tender for the sale of the company: "TERMOELEKTRO" a.d., Belgrade, Uralska 9

28. December 2006.

Tender Code: TE 32/06

Pursuant to Articles 28, 69, 70, and 72 of the Law on Privatization (Official Gazette of the Republic of Serbia No. 38/2001, 18/2003, and 45/2005) and Article 9 of the Law on the Privatization Agency (Official Gazette of the Republic of Serbia No. 38/2001 and 135/2004) and Articles 9 and 10 of the Law on the Share Fund (Official Gazette of the Republic of Serbia No. 38/2001 and 45/2005), the Privatization Agency (hereinafter: the "Agency") issues this:

PUBLIC INVITATION
for participation in the public tender for the sale of 24,033 shares bearing
CFI code: ЕSVUFR, ISIN number: RSTRELE78133, par value of RSD 2,400,
representing 37.49421% of the total equity of the company (hereinafter: the "Block of Shares"):


"TERMOELEKTRO" a.d.
specialized holding stock corporation for engineering, maintenance, overhaul, and revitalization of energy and industrial facilities with in-house designing, equipment manufacturing, and transport in the country and abroad, Belgrade, Uralska 9
(hereinafter: the "Company")

Tender Code: TE 32/06
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