FIMA Daily Insight in FOCUS – BANJA LUKA STOCK EXCHANGE

FIMA Daily Insight IN FOCUS – BANJA LUKA STOCK EXCHANGE

5-Jun-09

BLSE STOCK MARKET BIRS Last Change The total turnover at the Banja Luka Stock Exchange 990,53 0,15 has been BAM 621.562 today. % daily 0,02% % YTD -2,96% The largest turnover of BAM 558.761,28 has been realised with the NLB razvojna banka Inc. Banja Luka Stock Turnover (BAM) 8.246 bonds. They have been traded on the average price of Total MCAP (BAM mn) 1.702,21 Source: www.blberza.com BAM 94,5771 which is 0,43% higher price in comparison to the previous trading. The Republika Srpska - stara devizna štednja bonds have been traded on the 90,01% BIRS- MOVERS of the nominal price (BAM 0,80) and the realised

TRZN-R-A 1,5% turnover was BAM 16.652,57. The Republika Srpska - TLKM-R-A 0,8% izmirenje ratne štete 2 bonds have recorded decrease of ZERS-R-A 0,0% VTNK-R-A 0,0% the price for -2,59%, so that today they were traded on VITA-R-A 0,0% SODJ-R-A 0,0% the 38,9644% of the nominal price (BAM 1,00) and the SEMB-R-A 0,0% realised turnover was BAM 13.110,51. RITE-R-A 0,0% RFUM-R-A 0,0% PDPT-R-A 0,0% NOVB-R-A 0,0% At the quotation of funds, the ZIF Invest nova fond Inc. MRDN-R-A 0,0% Bijeljina shares have been mostly traded with. With the MIRA-R-A 0,0% METL-R-A 0,0% unchanged price of BAM 0,08 the realised turnover was KDVO-R-A 0,0% BAM 3.180,00. No funds has recorded increase of the HETR-R-A 0,0% HELV-R-A 0,0% price, while the largest pice decrease of -4,76% had the HEDR-R-A 0,0% ELDO-R-A 0,0% Bors invest fond Inc. Banja Luka, so it has been traded ELBJ-R-A 0,0% on the unit price of BAM 3,80 and it had turnover of BAM EKHC-R-A 0,0% EKBL-R-A 0,0% 1.520,00. EDPL-R-A 0,0% DEST-R-A 0,0% BVRU-R-A 0,0% The gainers of the day on Banjaluka Stock Exchange BOKS-R-A 0,0% BLPV-R-A 0,0% are: Tržnica Inc. Banja Luka (1,5%), Telekom Srpske BIRA-R-A 0,0% Inc. Banja Luka (0,82%), obveznice NLB razvojna banka RNAF-R-A -2,1% RTEU-R-A -9,0% Inc. Banja Luka (0,43%) and Republika Srpska - stara -15% -10% -5% 0% 5% 10% 15% devizna štednja (0,01%).

Source: www.blberza.com The largest price decrease on todays trading had the BIRS 3 MONTH MOVEMENT following issuers: Medicinska elektronika Inc. Banja Luka (-72,43%), Impes Inc. Foča (-20%), Jahorina 1.050 osiguranje Inc. Pale (-20%), Rudnik kaolina Motajica

1.000 Inc. Srbac (-12,5%) and RiTE Ugljevik Inc. Ugljevik (- 8,96%). 950 The only index whose value has recorded increase of 900 0,02% has been the BIRS. The values of the RS FIN, MIRS and GIRS indexes have remained unchanged, 850

9 9 9 9 9 9 9 while other indexes have recorded decrease of the value .0 .0 .0 .0 .0 .0 .0 .3 .3 .4 .4 .5 .5 .6 5 0 4 9 4 9 3 2 1 1 – FIRS for -0,42% and ERS10 for -1%.

Source: www.blberza.com

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1 FIMA Daily Insight IN FOCUS – BANJA LUKA STOCK EXCHANGE

NEWS: Tržnica a.d. Banja Luka - Ex-dividend day for Stock Dividend THE MOST ACTIVE TOP 5 (BAM) VBBB-O-A 558.761 In accordance with the Decision of the Shareholders’ RSDS-O-A 16.653 Assembly of Tržnice a.d. Banja Luka about the 7th issue of RSRS-O-B 13.111 shares on the basis of conversion of retained earnings into RSRS-O-A 5.557 shareholders equity, the Banja Luka Stock Exchange VMAS-R-A 4.480 provides basic information about dividend distribution and Source: www.blberza.com new issue of shares from retained earnings:

Symbol of Securities TRZN-R-A Total Number of Shares Being Distributed to Shareholders (nominal value BAM 1) 2.630.584 shares TOP 5 ADVANCES % Stock Dividend per Stock 0,1115 shares TRZN-R-A 1,50 Record Date 24.06.2009. TLKM-R-A 0,82 Ex Dividend Date 22.06.2009. VBBB-O-A 0,43 (Source: www.blberza.com) RSDS-O-A 0,01 - 0,00 Average net salary up 4.7% in April Source: www.blberza.com Average net wages in April in Republika Srpska increased by 4.7% compared to April 2008, settling at about BAM 785 or EUR 401, the RS statistics office reports. The size of the wage increase has dropped from the start of the year due to downtrend in public sector salaries since TOP 5 DECLINES % January 2008. MDEL-R-A -72,43 Almost all industries contributed to such slowdown, except IMPS-R-A -20,00 for transport, telecom sectors and real estate sector where SODJ-PKA -20,00 a slight acceleration was recorded. MTKS-R-A -12,50 (Source: www.seebiz.eu) RTEU-R-A -8,96 Source: www.blberza.com Regular Revision Of Indices of the Banja Luka Stock Exchange Commission for Establishment and Revision of the Banja Luka Stock Exchange indices is in line with Methodology for Establishment, Calculating and Revision of the indices, B&H LT CREDIT RATING conducted the tenth regular revision of the BIRS and FIRS, Moody's: B2 sixth regular revision of the ERS10. Standard&Poor's: B+ Shares which do not fulfill the criteria for BIRS anymore Source: www.cbbh.ba are: NLB razvojna banka a.d. Banja Luka, Unis fabrika cijevi a.d. Derventa i Jelšingrad livnica čelika a.d. Banja Luka. These shares have been supstituted with new ones wich fulfill BIRS criteria: Jahorina osiguranje a.d Pale, Semberija PD a.d. Bijeljina, Meridian a.d. Banja Luka). Companies included in indices FIRS, ERS10 have not been changed. (Source: www.blberza.com)

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2 FIMA Daily Insight IN FOCUS – BANJA LUKA STOCK EXCHANGE

MARKET MULTIPLES MkCap NAV (BAM NAV per Last price (BAM NAV discount million) share million) P / NAV

INVESTMENT FUNDS

ZIF Zepter 6,05 45,1 76,3 10,2 41,0% 0,6

ZIF Kristal Invest 5,70 0,0 38,6 12,0 52,3% 0,5

ZIF Invest Nova 0,08 0,0 21,3 0,1 29,6% 0,7

ZIF Euroinvestment 9,03 0,0 11,6 10,7 15,6% 0,8

ZIF BLB-Profit 4,55 0,0 8,4 4,9 6,6% 0,9

ZIF Aktiva Invest 4,70 0,0 8,1 6,1 23,2% 0,8

ZIF Polara Invest 5,31 0,0 19,2 11,4 53,5% 0,5

ZIF VB 5,00 0,0 9,1 5,9 15,9% 0,8

ZIF Balkan Investment 4,50 0,0 7,3 6,3 29,1% 0,7 (Source of the NAV is www.blberza.com on the 26.05.2009.)

CONTACTS:

SONJA TOPALOVIĆ [email protected] (+387) 51 329 201 MILAN SANČANIN, broker [email protected] (+387) 51 329 202 STEVO JOVIČIĆ, broker [email protected] (+387) 51 329 203

FIMA International Inc. Srpska 63 Banja Luka telefon:++ 387 (51) 329 203 telefax:++ 385 (51) 329 212 e-mail: [email protected] http:// www.fimabl.ba

For more information please contact us via mail [email protected] or on tel. +387 51 329 200

3 FIMA Daily Insight IN FOCUS – BANJA LUKA STOCK EXCHANGE

DISCLAIMER

FIMA Daily Insight is a daily publication of FIMA International Inc. which comments for the needs of its users dynamics of trading financial instruments on capital markets in the Republic of Srpska, transfers and publishes parts or entire selected news from various publicly available sources and media of interest for the investor community, and offers overview of the selected parameters of financial instruments trading on Banja Luka Stock Exchange. The content uses publicly available records published by the selected relevant sources and public information services (Banja Luka Stock Exchange, publicly available financial reports of the Issuer, publicly available opinions of representatives of the Issuers etc.). Although we believe that the stated information and other records are reliable, we do not guarantee for their accuracy, completeness or timeliness.

The publication has been of informative character and may not be deemed to be an invitation for purchase or sale of financial instruments being mentioned in it. Prices of financial instruments, and there from also return on investment from financial instruments may vary and cause profit or loss. Investment in financial instruments commented in this publication include certain risk, financial instruments are not necessarily available in all legal-regulatory environments, they may be illiquid and may be inadequate for some investors. Value or profit realized based on any financial instrument may vary and/or be under the influence of exchange rate differentials and other risks. Investment returns from the history are not indicators of future returns. Investors should independently make their decisions on investment, without relying on this publication.

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The seat of the Company FIMA International Inc. is in Banja Luka, Srpska 63, whereas the operating of the Company has been supervised by the Republic of Srpska Securities Commission. The company was entered into the Court Register of the Primary court Banja Luka under the number: 1-16231-00.

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