Signed Purchase and Sale Agreement of 41,1402% share capital in the company Lovćen osiguranje JSC Podgorica

Signed Contract of sale of 41.1402% of share capital of the company Lovcen osiguranje" AD Podgorica. The contract was signed between the Government of Montenegro, Pension and Disability Insurance Fund, Employment Bureau of Montenegro and the Development Fund of Montenegro, as well dealers and and Zavarovalnica Triglav, JSC Slovenia, being the buyer shares. Zavarovalnica Triglav along with related parties became the owner of 91.83% in Montenegro's largest insurance company. The Insurance Supervision Agency issued consent for the purchase of 83,331 shares in Lovcen osiguranje, and the purchase of Zavarovalnica Triglav was made in the amount of 5,999,832 Euros, i.e. 72 Euros per share. The transaction will be completed in January 2010. On this occasion, the Deputy Prime Minister and Finance Minister, Mr. Igor Lukšić said: "signing of this contract means the completion of the privatization in the financial sector, by which we are implementing one of important segments of the overall structural reforms. By purchasing controlling package of shares, Triglav Osiguranje is showing its committed to become the strategic partner in this area in Montenegro. Following the signing of the Agreemnt, Mr. Matjaz Rakovec said: "Triglav Group is strengthening its presence in Montenegro, because until now we proved to be a good co-owner and qualitative partner of our insurers, business partners, and employees. In accordance with corporate values, we would like to be connected to the environment in which we operate, thus we are strengthening our social responsibility. To conclude, in the future we will also be open to support culture, sports and youth of Montenegro." Triglav Group will donate 150,000 Euros in the next five years for the implementation of sports programs in the municipality of Cetinje.