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

On 29 July 2015, Standard & Poor’s Ratings Services raised its long-term insurer financial strength and counterparty credit ratings on Pozavarovalnica Sava d.d. (Sava Re) to “A-“ with a stable outlook.

In its report, the rating agency bases the upgrade on the improvement of Sava Re’s capital adequacy and its strengthened position in its domestic market along with its successful integration after acquiring a majority shareholding in Maribor Insurance Company.

Among the rating criteria, which define the credit rating, there has been an improvement in the capital and earnings position and liquidity position.

The stability of credit rating is linked to the sustainable level of the earnings and capital position, which is mainly correlated to Sava Re’s stable dividend policy and its planned share repurchases.

Sava Re Group holds the second position in Slovenia’s insurance market and a strong position in the Southeastern Europe. Its financial stability and reputation in the regional insurance and international reinsurance markets are crucial for its future development. The rating upgrade will have positive effects on the growth strategy mainly of the reinsurance segment, where the company has established business relationships with more than 300 partners in more than 90 markets in the last 40 years of its operations.

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.