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INI-646/14

SAVA RE d. d., Ljubljana

S&P Affirms Ratings on Sava Reinsurance Company With Stable Outlook

Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and the Market in Financial Instruments Act, Pozavarovalnica Sava d.d., Dunajska 56, 1000 Ljubljana ("Sava Reinsurance Company"), hereby announces the following:

Following the annual rating review, in accordance with its criteria for insurers, credit rating agency Standard & Poor's (S&P) reaffirmed the existing "BBB+" ratings of Sava Reinsurance Company with stable outlook.

This announcement will also be available on the Company’s website at www.sava-re.si, at least five years from the date of the announcement.

The Management Board
Date: 22.07.2014