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Time schedule

Right to participate in the capital increase have shareholders who have acquired shares no later than


22 Feb 2011

/Tuesday/


Closing date of trade on BSE of the shares with rights for participation in the capital increase

18 Feb 2011

/Friday/


Prospectus publishing date

15 Feb 2011

Date of publishing the notice of the offering in the State Gazette and in a central daily newspaper, the Dnevnik daily

15 Feb 2011

Beginning of transfer of rights and trade in rights on BSE and of the subscription of new shares

23 Feb 2011

Closing date of trade in rights on BSE

09 Mar 2011

Closing date of transferring the rights on BSE

11 Mar 2011

Closing date of the subscription of new shares by holders of rights, including persons that have purchased rights on BSE, before the ex-officio auction

11 Mar 2011 (1)

Ex-officio auction on BSE for sale of unexercised rights

18 Mar 2011

Beginning of the subscription of new shares by persons that have purchased rights at the ex-officio auction

22 Mar 2011

Closing date of the subscription of new shares by persons that have purchased rights at the ex-officio auction

31 Mar 2011

Closing date for payment for new shares by any persons that have subscribed new shares

31 Mar 2011

Registration of the new shares issue and of the capital increase in the Commercial Register

11 Apr 2011 (2)

Registration of the new shares in investor accounts with the Central Depository

15 Apr 2011 (2)

Beginning of trade in new shares on BSE

29 Apr 2011 (2)

(1)We would like to pay attention that the shareholders whose shares and respectively whose rights are on private account in Central Depository should ask a licensed Investment Intermediary acting as a Registration agent to the CD to issue a duplicate of depository receipt for their rights that are in their private account. This specifying is made having in mind the time necessary for the issue of a duplicate of depository receipt which may take around 3 working days and the closing date for the subscription of new shares before the ex-officio auction - 08 March 2011.

(2) We would like to pay attention that the shareholders whose shares and respectively whose rights are on private account in Central Depository should ask a licensed Investment Intermediary acting as a Registration agent to the CD to issue a duplicate of depository receipt for their rights that are in their private account. This specifying is made having in mind the time necessary for the issue of a duplicate of depository receipt which may take around 3 working days and the closing date for the subscription of new shares before the ex-officio auction - 08 March 2011.