LUKA KOPER, d.d., Koper

Luka Koper Supervisory Board Discusses Global Economic Crisis And Environmental Protection Issues

At its regular session, held on 19th November, Luka Koper's Supervisory Board reviewed the company's performance across the first three quarters of 2008, and concluded that operations had not - as yet - been affected by the global financial crisis. Estimates for the fourth quarter are also relatively favourable, and as maritime logistics are the final link in international trade procedures, the effects of any downturn in world trade are only likely to be perceived Luka Koper in fiscal 2009. The members of the Supervisory Board paid a deal attention to measures aimed at the management of potential problems, such as the rationalisation of operations and identification of internal reserves. Accordingly, the Management Board was asked to carefully monitor commercial trends and market movements. The third-quarter interim report is due to be published next week.

The Supervisory Board also endorsed the purchase of the so-called »Blagovne Rezerve« warehouses owned by the Republic of Slovenia; these encompass three pieces of real estate within the port area valued at € 5.9 million. By way of this acquisition, Luka Koper shall acquire urgently needed additional storage capacities that will be utilised in the provision of its logistics services.

The members of Supervisory Board spent most of their meeting considering the report on environmental and maritime protection, as well as health and safety at work. Luka Koper is committed to operate in compliance with the basic principles of sustainable development, which encompasses commercial efficiency in the context of responsibility towards the natural and social milieu in which it operates. Indeed, in 2000 Luka Koper became the first Adriatic port to be granted ISO 14001 environmental protection certification. In order to meet this quality standard the company is obliged to monitor the impact of its operations on the environment. Within the context of the provision of port services, Luka Koper undertakes ongoing measurements of dust and dust particle emissions, discharged water, as well as noise and light pollution. As regards dust, maximum values were only exceeded within the area of the Pier I, and this was as result of construction works related to its extension. The permitted average annual concentration of dust particles was not exceeded; indeed, it was lower than in the same period last year. Nevertheless, due to changed regulations, these quantities will have to be further reduced by at least one third by 2010. The noise measurements, which have been performed regularly since 1998, showed that cargo handling did not cause any prolonged infraction of permissible daily or nocturnal levels of noise, the main source of which is traffic. Luka Koper is well aware that the noise issue is of a very subjective nature, therefore any complaints by local inhabitants are carefully investigated with the aim of finding solutions to any emergent problems on a case-to-case basis. As to the issue of light pollution, the company is gradually installing illuminants that are compliant with new regulations on the maximum permissible levels; some 60 percent of all outdoor lighting in the port area has already been adapted to the aforementioned directive.

This information will be available on company's website www.luka-kp.si form 20th November 2008 onwards.

Date: 20. 11. 2008