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The Government of the Republic of Serbia

In the service of citizens

Knjaz Milos small shareholders invited to sell their shares

Belgrade, 11 September 2004

The Serbian Privatisation Agency and the Share Fund published today a public invitation to small shareholders in the Arandjelovac-based mineral water producer Knjaz Milos, calling them to join their blocks of shares to those of the Share Fund or to sell them through public sale.

The Privatisation Agency and the Share Fund offered individual shareholders the opportunity to join their shares to the Share Fund’s portfolio, which includes 41.28 percent of the company’s total assets. The resulting majority share block will boost the market value and serve to further develop Knjaz Milos.

After a majority share block is formed, the Privatisation Agency and the Share Fund will offer the shares for sale, on conditions which will include favourable social welfare and investment programmes for the company.

Following the provisions of the Privatisation Law and Share Fund Act, and the September 6 decision of the Privatisation Agency to sell the shares from its Knjaz Milos portfolio through public bid, the Agency and the Share Fund will help boost the company’s market price.

After forming a majority share block, the Agency and the Share Fund will offer the shares at 20,000 dinars on a public sale with an investment programme of €20 million in the first year and an accompanying social welfare programme, reads a statement issued by the Agency.