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The Government of the Republic of Serbia

In the service of citizens

A:

Bids for JRB ranked

Belgrade, 16 December 2008

The Serbian Privatisation Agency stated that the tender commision in charge of the sale of 69.99% of the company Jugoslovensko Recno Brodarstvo (JRB) approved the results of the public tender and ranked the bids.

According to the statement, Erste Donau-Dampfschiffahrtsgesellschaft (EDDSG) m.b.H. from Austria is first, followed by French CFNR, Dunavski Lloyd Sisak from Croatia and Bomex Export Import from Serbia.

The first ranked bidder agreed to pay €24.5 million, invest €15.73 million and agreed to minimum obligations from the social programme.

Representatives of the Privatisation Agency and Austrian EDDSG will start negotiations to conclude the JRB sale.

If the negotiations are completed successfully the sale agreement will be signed within 30 days from the expiry of the deadline for informing the bidders about the results of the tender.