Pursuant to the provisions of the Code of the Warsaw Stock Exchange, the Rules and Regulations of the Ljubljana Stock Exchange (Ljubljanska borza, d.d.), and the relevant legislation, the company Gorenje, d.d., hereby makes the following announcement:

Velenje, February 3, 2016 – In order to obtain funds for seasonal financing of its operations, Gorenje, d. d. has successfully completed its fourth consecutive issue of commercial paper, of EUR 28.9 million. The commercial paper, with the start of its interest accrual period on February 3, 2016, and date of maturity on December 22, 2016, has the lowest interest rate to date, at 2.00 percent p.a. This year's issue is a significant contribution to the efforts to cut Gorenje Group's finance expenses, and the solid interest in commercial paper reaffirms investor confidence in Gorenje.

Commercial paper with the symbol GRV04 shall be registered, issued in dematerialized form with the central register of dematerialized securities kept by the KDD (Central Securities Clearing Corporation), in denominations of EUR 1,000, and it shall be freely transferable. The liabilities arising from commercial paper are backed by Gorenje's entire property; there is, however, no separate underlying collateral. The commercial paper will be traded in the regulated market of the Ljubljana Stock Exchange. In the first subscription round, commercial paper was subscribed to and paid for by 62 investors, in the combined total amount of EUR 28,908,000. Several financial institutions, enterprises, and individual investors have demonstrated their confidence in Gorenje by subscribing to the GRV04 commercial paper. After today's issue, the commercial paper will be available for subscription in the second subscription round from February 10, 2016, to December 1, 2016, up to the final total nominal issue amount of EUR 35 million.

The purpose of the issue of commercial paper is to diversify the sources of short-term financing and especially seasonal financing of operations, consistently with the annual cash flow dynamics, and to optimize the finance expenses.

All services and activities regarding the organization and progress of the offering of commercial paper in dematerialized form, registration in the central register of KDD, and listing in the regulated market are rendered by NLB, d. d.

The information included in this announcement will be available on the official website of the company Gorenje, d.d., Velenje, at www.gorenjegroup.com, for a period of no less than five years from the date of the announcement.