INTERCITY BROKER JSC WEEKLY REPORT BROKER-DEALER COMPANY Member of Stock Exchange n d t h Member of Central Securities Depository and Clearing house F e b r u a r y 2 – 6 2 0 0 9 52 Maksima Gorkog St., Belgrade, Tel: +381 (11) 3083-100, 3087-862; Fax: +381 (11) 3083-150 e-mail: [email protected]; www.icbbg.rs Leads Turnover, Indices Decline Fluctuation of Stock Exchange The transactions regarding shares of blue-chip soybean producer Sojaprotein (SJPT) covered 61% of total turnover. The major (%) Indices in the Region (1-m Change) shareholder, company Victoria Group has been buying shares 15 from its subsidies. Further, trading in AIK banka Bank (AIKB) shares was out of the ordinary down to the wide price range – from 10 RSD 2,490 to 2,887. Company Bambi share recorded immense weekly growth in price of 78.11%. 5 The indices value fell once again. The blue chip BELEX15 index decline 3.69% and composite BELEXline Index lost 2.25%. 0 7-Jan 13-Jan 19-Jan 25-Jan 31-Jan 6-Feb Gazprom Neft completed the acquisition of 51% of NIS, Serbia’s Forex reserves rise to USD 8.4bn on the payment. Serbia expects -5 EUR 1.5bn in FDI in 2009. Funds for 2009 Budget deficit secured. FTA between Serbia and Russia to be expanded from March. -10 Tetra Pak's production 20% above planned. Crédit Agricole Group increased the capital of Meridian Bank. Michelin to invest EUR -15 10m in Serbia. Strategic partner to be found for tractor manufacturer IMT. Government launched procedure to collect EUR BELEX 15 CROBEX SBI 20 10m Guarantee for Horgos-Pozega motorway. Delta Holding filed bid for Slovenian Mercator and bought 66.6% of Bosnian furniture BIRS NEX 20 maker Standard. Three new Free Zones to be opened in Serbia this year. Government Lends 10m Euro to Flag Carrier JAT Source: Official Websites Analysis: Intercity broker Airways. British-Serbian Chamber of Commerce starts operating. First PM's Economic Council Meeting was held on Feb.6.

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C O N T I N U O U S T R A D I N G M E T H O D

Most Active Stocks of the Week Top Gainers/Losers of the Week

Traded Value Change Change Issuer Symbol Issuer Issuer (in RSD) (%) (%) Bambi Banat Metals banka Soja protein a.d. Bečej SJPT 716,848,912 a.d. +78.11% a.d. Novi Sad -13.70% Požarevac Čačanska Voda Vrnjci AIK banka a.d. Niš. AIKB 72,576,642 banka a.d. +19.79% a.d. Vrnjačka -12.68% Čačak Banja Agrobačka Voda Vrnjci a.d. Vrnjačka Simpo a.d. a.d. Bačka VDAV 67,924,200 Vranje +9.13% -12.00% Banja Topola Iritel a.d. Vino župa a.d. Beograd Ishrana a.d. Smederevo, ISHR 57,899,320 Aleksandrovac +8.53% -11.98% Credy banka Imlek a.d. a.d. Komgrad a.d. Subotica KOMG 53,637,000 Beograd +5.53% -11.78% Kragujevac

Business News of the Week News from the (BSE)

Wiener Bowerse Mulls Buying the BSE ► Poliester a.d. Priboj (POLP) - Decision on Acquisition of the Vienna Stock Exchange is interested in buying the proprietary shares Belgrade Stock Exchange, says Michael Buhl, a member ► Betonjerka a.d. Beograd (BETA) - Convening of the of Vienna Stock Exchange MB. In his statement for Shareholders Assembly Croatian and Austrian media, Buhl explained the Vienna Stock Exchange was willing to buy all stock exchanges ► Energoprojekt Visokogradnja a.d. Beograd (EPVI) - from ex-Yugoslavia, most of all those in Zagreb and Convening of the Shareholders Assembly Belgrade. Talks on the matter between high officials are yet to be held. Last year, the Vienna Stock Exchange took ► Elektrotehna a.d. Niš (ELTN) - Decision on Acquisition of the over stock exchanges from Budapest, Prague and proprietary shares Ljubljana. The officials of BSE stated that they were Foreign Investors Participation in Turnover of Shares (FIS) opened to offer, but that there were no official proposals. They remind that there were similar signals in the media 100% last year, when Vienna and Athens stock exchanges were eyeing the BSE. (Source: Danas) 80% Ball Packaging Builds New Production Facility 60% Ball Packaging Belgrade announced that it plans to build a facility for the production of caps for cans worth 40% approximately EUR 25 million, in 2010. The General Manager of Ball Packaging Europe, Anthony Burnett, 20% stated to the media that facility would be a part the existing factory and that preparations were under way; he added that the dynamics of finishing the factory would depend on 0% the global financial crisis and demand on the market. 2-Feb 3-Feb 4-Feb 5-Feb 6-Feb (Source: Danas) Four Companies Eyes 70% Stake in Belgrade Fair Total FIS b-FIS s-FIS

Two of the contestant buyers are foreign companies, Source: Belgrade Stock Exchange Italian trade fair organiser Rimini Fiera and London-based ITE Group , said Belgrade Fair`s head Andjelko Trpkovic. Foreign Investors Participation on the buy-side (b-FIS) hit the highest Serbia invited bids for Belgrade Fair Co, which is fully point on February 2, 2009 (57.22%). On weekly level, foreign investors owned by the state, in December without setting a participated in Total b-FIS 11.12%. minimum price. Interested bidders face a March 27 Middle Exchange Rate E U R / R S D deadline to submit binding offers. Eligible bidders are companies which have organized at least 25 fairs or the past three years with minimum revenue of EUR 50m in (RSD) 2007. 97 96 Belgrade Fair Co net profit was EUR 1.29 m in 2007 and 95 the company has 106,000 square meters of exhibition 94 space in the capital Belgrade. (Source: B92) 93 92 RTB Bor to Remain in Mayority State Ownership, 91 Government to Invest EUR 130m 90 89 Deputy Prime Minister Mladjan Dinkic said that after two 88 unsuccessful tenders, the complex will remain state-owned 87 and announced an investment of EUR 130m in a new 86 smelting plant. Dinkic also stated that the mining part of 85 the complex will be tendered out to any potential buyer 6-Jan 11-Jan 16-Jan 21-Jan 26-Jan 31-Jan 5-Feb willing to invest at least USD 120m in new equipment. (Source: Serbian Government)

Decrees on Measures to Alleviate the Crisis Adopted Middle Exchange Rate RSD vs. Major Currencies The government adopted decrees on measures to overcome the economic crisis, through which loans worth 2-Feb 3-Feb 4-Feb 5-Feb 6-Feb RSD 122 billion will be granted for the companies and for 94.7192 94.8203 93.7285 92.8270 91.9553 purchasing domestic products. EUR Next week the government will sign first contracts with 74.4121 73.8073 71.9218 72.2839 71.9300 banks and the loans to the companies and citizens will be USD granted two weeks from now. Minister Dinkic said that 6 63.8571 63.5014 62.8586 62.3167 61.3649 out of 35 banks in Serbia do not fulfill the government’s CHF conditions for inclusion in the program although the list will be revised every three months. (Source: Serbian 107.0032 104.7854 103.7623 104.3821 105.1759 Government) GBP Source: National Bank of Serbia

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