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AGROKOR'S BID FOR FRIKOM RANKED BEST

Agrokor today received the official confirmation of the Privatization Agency of the Republic of Serbia advising that its bid in the tender for 55.49 per cent of the total capital of PKB FRIKOM MDD, Belgrade, Padinska Skela, was the best. In the second half of next week Agrokor shall commence negotiations which according to the privatization-by-tender procedure have to be completed within 30 days. Agrokor's bid for the privatization of Frikom was very precise and concrete. Therefore at Agrokor it is expected that the negotiation process will be speedy and efficient and the Agreement signed soon. By the completion of the tender privatization of Frikom and by signing the Agreement, Agrokor and Frikom shall jointly constitute a strong group of companies for the production and sales of frozen food. The new system will be one of the largest industries of its kind in Europe. By exploiting synergies and the complementarity of production within the Group, the competitiveness of all its members shall improve, with economies of scale forming the prerequisite for a joint expansion throughout the region. Thus the Agrokor Group would reinforce its strong regional position and become leader in fostering regional partnerships in this part of Europe.