INTEREUROPA, d.d., Koper

Thirty-eighth Ordinary Meeting of the Supervisory Board of INTEREUROPA d.d.

Resolutions by the Supervisory Board

In today's 38thOrdinary Meeting, the Supervisory Board of Intereuropa d.d. was informed on the planning document of the Intereuropa Group for the year 2009 which is based on the ''Intereuropa Group Corporate Vision and Strategy for Development 2006-2011'' and the updated strategy that envisions a faster expansion into the markets of East Europe. On the Group level, we expect a net sales revenue or EUR 282.1 million for the coming year 2009, which represents a 7% growth over the year 2008. This growth rate already reflects the impact of decline in demand on the part of major Intereuropa customers from automotive industry, white goods and trade, and a reduced volume of goods flows that are presently entrusted to us. Slovenia and Croatia remain our most relevant markets, while the share of Russia in total sales is growing significantly. Given the expected lower volume of goods exchange between the West and South-East of Europe, the main objective of Intereuropa for Slovenia and Croatia is to increase the market share for the comprehensive logistical services offered by us. In addition to higher market share, Intereuropa has an important competitive advantage in the built-up logistics infrastructure that supports all the stages of logistics process. Unlike our competitors, we do not face major problems in our operations. Having acquired the operational acceptance certificate for the Logistics Hub in Russia, this facility will be operating with full capacity. Intereuropa plans an intense marketing campaign for this comprehensive logistics hub in Russia in order to improve operations connecting Russia with West Europe, as well as with South-East Europe, where large goods flows are still expected.

Continental Transport remains the largest business segment of the Intereuropa Group, representing 55% in the net sales revenue structure. In 2009, we will continue with the promotion of sales, cost management, optimization and improvement of efficiency of our staff, which will reflect in the operating profit aiming to achieve EUR 18.2 million, or 4% above the estimate for the current year (2008). The expected EBITDA will come to EUR 35.9 million or 12% higher than estimate for the year 2008, thanks to the launch of our investment in Russia, better performance of our road transport segment and the sale of excess or non-operating assets. Estimated net expenses from financing will reach EUR 11.6 million and will be covered from the cash-flow generated from operations and the disposal of non-operating assets. We plan net profit from ordinary activities to reach EUR 6.8 million, which taking into consideration the economic situation in 2009 represents challenging, but reachable goal.

Acquisition of the operational acceptance certificate for the Logistics Hub Moscow-Czechow
We envision a continued growth of operations in the existing capacities, the utilisation of the new logistics facilities in Croatia, Bosnia and Herzegovina, Serbia, and Montenegro in the coming year; however, the year 2009 will be primarily marked by the full launch and exploitation of the Group's largest investment - the new logistics centre Moscow-Czechow, Russia. The Supervisory Board got acquainted with the operational acceptance certificate for the newly built Logistics Centre Moscow-Czechow, obtained by our daughter company in Russia, OOO Intereuropa-East in accordance with the business plan. This final step in the development of our Logistics Hub in Moscow is extremely important for Intereuropa: it means the beginning of full-scale operation for this facility. In the coming year (2009), the car terminal and the warehouse capacities will start operating with full capacity; we will also strengthen our service in continental transport, in which the customs services have the underlying role. To date, Intereuropa was only able to offer the services in road and railway transport, freight forwarding and car logistics. Having completed this project, we can now provide integral logistical services and consolidate the image of the Intereuropa Group as a full-range logistics provider - offering 'from partial to integral logistical services' also in Russia. In the future, Intereuropa plans to develop the sea- and airfreight services, and distribution services in the territory of Russia. Combined with excellent international partner network, Intereuropa will be able to provide complex logistics solutions to the customers based in Russia and other international customers. With the development of the full-range logistics, the multiplying effects will be transferred to the entire business network of the Intereuropa Group.
Thanks to the acquired operational acceptance certificate, we are a step closer to obtain the status of a customs terminal as an underlying segment in the operations of the Logistics Centre Moscow-Czechow. Last but not least, our facility with operational acceptance certificate will improve their trust of banks in our project.

The press release will be available on the web site of Intereuropa d.d., at. www.intereuropa.eu at least five years after the announcement.

Date: 19. 12. 2008