Public invitation for participation in the public tender for sale of 177,895 shares with CFI Code: ESVUFR, ISIN Number: RSVNCCE93395, with nominal value of RSD 1,000 , owned by the Share Fund, which represents 70.0013% of the total capital of the Company

02. July 2007.

Tender Code: VEN 15/07

Based on Articles 28, 69 paragraph 3 of the Law on Privatization (Official Gazette of the Republic of Serbia No. 38/2001, 18/2003, and 45/2005), Article 9 of the Law on the Privatization Agency (Official Gazette of the Republic of Serbia No. 38/2001 and 135/04) and Article 9 of the Law on Share Fund (Official Gazette of the Republic of Serbia No. 38/2001 and 45/2005),

PRIVATIZATION AGENCY
(hereinafter: "the Agency")
hereby issues:

PUBLIC INVITATION

for participation in the public tender for sale of 177,895 shares with CFI Code: ESVUFR, ISIN Number: RSVNCCE93395, with nominal value of RSD 1,000 (hereinafter: "Block of Shares"), owned by the Share Fund, which represents 70.0013% of the total capital of the Company:

Akcionarsko drustvo "Vencac", rudnici i industrija mermera i granita, Arandjelovac
(hereinafter: the "Company")

Tender Code: VEN 15/07

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Equity Fund

Socially Owned VENCAC - Mines and industry of marble and granite

Location:

Аранђеловац

Core activity:

Quarrying of ornamental and building stone, limestone, gypsum, chalk and slate

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Companies in the Fund