AD "VENČAC" Rudnici i industrija mermera i granita Aranđelovac BID RANKING

At the second meeting of the Tender Committee that supervises the Public Tender procedure for sale of shares in the Share Fund portfolio, representing 70.0013% of the total capital of the company: AD "VENČAC" Rudnici i industrija mermera i granita, Aranđelovac, held on December 5, 2007, the Tender Committee passed a unanimous decisions to approve the results of the tender, whereby "Europark" d.o.o. Beograd, was declared the first-ranked Bidder, "Devix" d.o.o. Lazarevac was ranked second, "Kaolin" a.d. Bulgaria is the third-ranked Bidder, Consortium "Sheer Korporacija" d.o.o. Beograd and "Sremput" a.d. Ruma is fourth-ranked, "Zorka Alas Kamen" d.o.o. Šabac is fifth-ranked, and "Kumal" d.o.o., Croatia is the sixth-ranked Bidder in the Tender.

Key elements of the Bid submitted by the first-ranked Bidder - "Europark" d.o.o. Beograd:

1. Purchase Price in the amount of EUR 5,201,649.80;
   
2. Investment Program in the amount of EUR 4,050,000;
   
3. The Bidder unconditionally accepted Minimum Requirements of the Social Program.

Upon announcing the Tender List, Privatization Agency and "Europark" d.o.o. Beograd, will enter into negotiations for execution of the Sale and Purchase Agreement.

In case of successful negotiations, Privatization Agency shall sign the Agreement on Sale of Capital with the first-ranked Bidder in line with mandatory deadlines.

Composition of the Tender Committee:

a) President of the Tender Committee:

• Mr. Luka Andrić, State Secretary in the Ministry of Economy and Regional Development, as representative of government authorities

b) Deputy President of the Tender Committee:

• Mr. Zoran Teodorović, Head of Department in Ministry of Mining and Energy, as representative of government authorities

c) Members of the Tender Committee:

• Mr. Milutin Đurić, Manager in Aranđelovac Municipality, as representative of local authorities according to the location of the Company
  
• Ms. Dragica Jovanović, Assistant General Manager in A.D. "Venčac" Rudnici i industrija mermera i granita, Aranđelovac, as representative of the Entity Undergoing Privatization
  
• Mr. Ivan Janošević, President of the Independent Trade Union in A.D. "Venčac" Rudnici i industrija mermera i granita, Aranđelovac, as joint representative of trade union organization in the Entity Undergoing Privatization