LUKA KOPER, d.d., Koper

Comment of the President of the Management Board regarding police investigation

On Wednesday, 15 April 2009, the headquarters of Luka Koper, d. d., witnessed a police investigation. According to Mr Robert Časar, President of the Management Board, it was conducted in a professional manner, which was a result of complete co-operation of all the employees. Mr Časar also stressed that he always worked for the benefit of the company and that the current Management Board successfully completed a number of projects. To mention just two: it signed the concession contract with the State and assured the appropriate social status to the company's employees by signing the collective labour agreement. In order to maintain the company's competitive advantage, it invested in port infrastructure, the extension of Pier I, new car park, warehouses and entrance, and modern equipment. In accordance with the strategy conceived together with the State, it also invested in the development of hinterland terminals. By contrast to other European ports, Luka Koper financed the construction of the new infrastructure through its own means, maintaining, according to financial experts, acceptable indebtedness in relation to the capital. In short, the company invested in tangible projects yielding tangible results that cannot evaporate like investments in securities that witnessed drastic depreciation.
The investigation made Luka Koper concerned about potential damage caused by the harmed reputation among its business partners. The consequences will have to be borne by all its employees. As for the outcome of the investigation, Mr Časar is convinced that it will prove that the Management Board runs the company in an efficient and proper manner.

Date: 17. 4. 2009