The First General Meeting of Bondholders elected representative of the bondholders

DECISIONS
OF the First General Meeting of its Bondholders
of Industrial Holding Bulgaria PLC
Bonds issue  ISIN BG2100018113

Held on 10 November 2011, at 10 a.m. in Sofia, 16-20 Alabin Str., Bulgarian Industrial Association

Item 1 from the Agenda: Election of representative/s of the bondholders.

DECISION: 1. The bondholders of Industrial Holding Bulgariq PLC, holding convertible bonds issue  ISIN BG2100018113 to be represented by one representative;

2. Elects Antoaneta Michailova Dimolarova for representative of the bondholders holding convertible bonds ISIN BG2100018113.

Item 2 from the Agenda: Fixing the remuneration of the representative/s of the bondholders.

DECISION: Appoints remuneration of the representative of the bondholders BGN 250 /two hundred and fifty/.

Item 3 from the Agenda: No decisions were taken.