FIMA Daily Insight IN FOCUS – STOCK EXCHANGE

21-Jul-09

BLSE STOCK MARKET The total turnover at the Banja Luka Stock Exchange BIRS Last Change has been BAM 76.208 today. 975,90 0,65 The largest turnover of BAM 16.561,80 has been % daily 0,07% realised with the - izmirenje ratne % YTD -4,39% štete 2 bonds. They have been traded on 36,1146% Stock Turnover (BAM) 14.861 of the nominal price (BAM 1,00) which represents the price decrease of -1,39%. The Centrotrans a.d. Total MCAP (BAM mn) 1.596,70 Source: www.blberza.com Istočno Sarajevo shares have recorded increase of the price for 168,97%, so that today they were traded on the unit price of BAM 0,78 and the realised BIRS- MOVERS turnover was BAM 16.070,34. The Republika Srpska -

BVRU-R-A 2,4% izmirenje ratne štete 1 bonds have been traded on ZERS-R-A 0,0% 36,2027% of the nominal price (BAM 1,00) which is VTNK-R-A 0,0% VITA-R-A 0,0% for -1,58% lower price in comparison to the previous TRZN-R-A 0,0% TLKM-R-A 0,0% trading; the realised turnover was BAM 11.329,86. SODJ-R-A 0,0% SEMB-R-A 0,0% RTEU-R-A 0,0% At the quotation of funds, the largest turnover of RITE-R-A 0,0% RFUM-R-A 0,0% BAM 3.196,50 has been realised with the ZIF Kristal PDPT-R-A 0,0% invest fond a.d. Banja Luka shares. They have been NOVB-R-A 0,0% MRDN-R-A 0,0% traded on the average price of BAM 4,51 which MIRA-R-A 0,0% represents the price decrease of -0,44%. No fund has METL-R-A 0,0% KDVO-R-A 0,0% recorded increase of the price, while the largest price HETR-R-A 0,0% HELV-R-A 0,0% decrease of -10% had ZIF Jahorina Koin a.d. Pale. HEDR-R-A 0,0% With the unit price of BAM 2,70 it had turnover of ELDO-R-A 0,0% ELBJ-R-A 0,0% BAM 135,00. EKHC-R-A 0,0% EKBL-R-A 0,0% EDPL-R-A 0,0% The gainers of the day on Banjaluka Stock Exchange DEST-R-A 0,0% BOKS-R-A 0,0% are: Centrotrans a.d. Istočno Sarajevo (168,97%), BLPV-R-A 0,0% ZTC Banja Vrućica a.d. Teslić (2,44%) i Balkan RNAF-R-A -0,6% BIRA-R-A -1,9% investment bank a.d. Banja Luka (0,34%). -15% -10% -5% 0% 5% 10% 15%

Source: www.blberza.com The largest price decrease on todays trading had the following issuers: ZIF Jahorina Koin a.d. Pale (-10%), BIRS 3 MONTH MOVEMENT Birač a.d Zvornik (-1,89%), ZIF Invest nova fond a.d. Bijeljina (-1,69%), Republika Srpska - izmirenje 1.050 ratne štete 1 (-1,58%) i Republika Srpska - izmirenje

1.000 ratne štete 2 (-1,39%).

950 The value of the BIRS index has recorded increase of 0,07%, the ERS10 index has remained unchanged, 900 while the FIRS index has recorded decrease of the

850 value for -0,7%.

9 9 9 9 9 9 9 .0 .0 .0 .0 .0 .0 .0 .4 .5 .5 .6 .6 .7 .7 1 6 1 5 0 5 0 2 2 2 2

Source: www.blberza.com

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

1 FIMA Daily Insight IN FOCUS – BANJA LUKA STOCK EXCHANGE

NEWS: Meridian a.d. Banja Luka - Increasing number of shares THE MOST ACTIVE TOP 5 (BAM) RSRS-O-B 16.562 On the 17.07.2009 the Listing Commission of the Banja CTRS-R-A 16.070 Luka Stock Exchange has examined the application for the RSRS-O-A 12.523 increase in the number of shares of issuer Meridian a.d. BVRU-R-A 5.330 Banja Luka, on the basis of shareholders capital increase by RSDS-O-A 5.136 the 3th share issue (1.568.516 shares, nominal value BAM Source: www.blberza.com 1 per share). The 3th issue was placed without prospectus, converting the reserves and retained earnings into shareholders capital of Meridian a.d. Banja Luka. The Listing Commission decided that company has fulfilled the requirements and have submitted the necessary documentation in accordance with the Rules of the Banja TOP 5 ADVANCES % Luka Stock Exchange. CTRS-R-A 168,97 After registration of the 3th issue total number of shares BVRU-R-A 2,44 increase from 6.274.062 to 7.842.578. Nominal value is BLKB-O-A 0,34 BAM 1. - 0,00 (Source: www.blberza.com) - 0,00 Source: www.blberza.com Žitopromet Drina a.d. Zvornik – The decrease number of shares from 6.740.546 to 4.791.829

Decreasing number of shares due to the decrease of the share capital. After registration of the 2nd issue total TOP 5 DECLINES % number of shares decreased from 6.740.546 to 4.791.829, JHKP-R-A -10,00 with the nominal value of the BAM 1. BIRA-R-A -1,89 The Central registry of RS has removed the trading halt on INVP-R-A -1,69 the shares of the issuer Žitopromet Drina a.d. Zvornik RSRS-O-A -1,58 (ZPDR-R-A) and the trading with shares of the ZPDR-R-A RSRS-O-B -1,39 will start from 20.07.2009. Source: www.blberza.com (Source: www.blberza.com)

Drina osiguranje a.d. Milići - Increasing number of shares from 5.227 to 6.127

B&H LT CREDIT RATING Increasing number of shares due to the 6th share issue Moody's: B2 trough private offering (900 shares). Number of shares Standard&Poor's: B+ increased from 5.227 to 6.127. Source: www.cbbh.ba Nominal value is BAM 1.000,00. Since securities were issued and obtained through a private offering the Central Registry, in accordance with Law on Securities Market, has registered the limitation of transfer of securities. (Source: www.blberza.com)

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

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 4,53 33,7 84,3 11,3 60,0% 0,4

ZIF Kristal Invest 4,51 0,0 40,8 12,6 64,3% 0,4

ZIF Invest Nova 0,06 0,0 19,6 0,1 44,5% 0,6

ZIF Euroinvestment 8,20 0,0 14,9 13,8 40,5% 0,6

ZIF BLB-Profit 4,34 0,0 9,6 5,6 22,0% 0,8

ZIF Aktiva Invest 4,70 0,0 9,4 7,1 34,1% 0,7

ZIF Polara Invest 5,40 0,0 18,3 10,9 50,3% 0,5

ZIF VB 4,50 0,0 7,9 5,1 12,6% 0,9

ZIF Balkan Investment 4,05 0,0 7,5 6,5 38,1% 0,6 (Source of the NAV is www.blberza.com on the 17.07.2009.)

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.

By publishing this publication FIMA International Inc. does not bear any responsibility for the consequences, or for the possible damages resulted from usage of the information and records published in this publication. Single opinions stated in this publication may change without prior notice.

This publication is considered to be promotional communication. All significant sources of information used in preparing of this publication were stated in its text.

In preparing this publication the results of the fundamental and technical analysis may be used including also internally developed evaluation models. If it is the case of an internally developed evaluation model, the basic methodology shall be presented and publicly available to the investors at the Company's web page www.fimabl.ba or in the other legally permitted manner.

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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