GORENJE, d.d., Velenje

Statement of Compliance with the Corporate Governance Code for Public Joint-stock Companies

Statement of Compliance with the Corporate Governance Code for Public Joint-stock Companies refers to the year 2005. As for the period between 31 December 2005 and the present Day, no significant changes occurred in relation to the respective deviation.

The corporate governance of the Company is presented in more detail in the 2004 Annual Report. In 2005 the Company developed good governance practice in line with the recommendations of the Code and on the basis of its own good business practice. In this Statement, which is also published in the 2005 Annual Report, the Company has given due consideration to the changed Corporate Governance Code for public joint-stock companies (Official Gazette of RS, no.118/05) relating to the period of the last year. In preparing the Statement, the Company considered the explanations in the Preamble of the Code, which distinguish between those recommendations which, in the opinion of the signatories of the Code, need to be disclosed in the event of any deviations, and the nonbinding provisions of a good governance system. The Code is published in the Slovene and English languages on the website: www.ljse.si.

This announcement will be also available on the www.gorenje.com web-site.

Date: 11. 4. 2006