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GORENJE, d.d., Velenje

Notice of Gorenje's Involvement in AMV program for the Slovenian Army

Patria, Gorenje and Rotis to Establish a Joint Venture Company for the Slovenian Armoured Carriers Programme

Gorenje d.d., Patria oyj and Rotis d.o.o. will join forces in the project involving the supply and delivery of (AMV Armoured Modular Vehicle) 8x8 Wheeled Vehicle for the Slovenian Army to further the cohesion of the Slovenian industry and national economic growth. At a special seminar held for potential partners in Slovenia and at today's press conference all three companies revealed their reasons and motives for the partnership. Gorenje d.d., Patria oyj and Rotis, d.o.o. also announced that yesterday a letter of intent had been signed to establish a joint venture company for the implementation of the project with the majority share in the company to be held by the Slovenian parties.

In line with Gorenje's strategic plan and in addition to its core business, which involves the manufacture and sales of household appliances, Gorenje has also been venturing into other areas of business, drawing on the company's extensive wealth of experience, know-how, technology and production capacities. This is why we were happy to accept the joint venture proposal by Patria and Rotis, having first carried out a comprehensive and detailed analysis of the product and associated technology as well as the proposed business model. It was our conclusion that the project involving the supply and delivery of AMV 8x8 Wheeled Vehicle for the Slovenian Army is characterised by distinct multiplication effects, and that our production and technological capacities, highly skilled and experienced workforce and extensive supplier network make Gorenje a logical choice as a partner. In the subsequent stages of developing this business we will be looking for synergies in all areas of our operation. In particular, we are counting on getting orders for our tool & die making and machine building division.

Gorenje views the partnership with Patria and Rotis as a source of long-term opportunities and will be extending the invitation to partner up with the team to the entire Slovenian industry.

A public announcement will also be available on the Gorenje website www.gorenje.com until further notice.


The Management Board of Gorenje, d.d.


Date: 21. 6. 2006