GORENJE, d.d., Velenje

Approval for the acquisition of Mora Moravia, a.s.

Velenje, Slovenia, MariŠnské Údolí, Czech Republic - On July 1, 2004 Gorenje, d.d., signed a contract for the acquisition of 100% ownership share of Mora Moravia, a.s. On December 27, 2004 the final contract defer condition was fulfilled, Gorenje, d.d., namely received from the Czech competition protection office (UHOS) the approval for the acquisition of the company Mora Moravia.

With this acquisition of Mora Moravia, a.s., Gorenje will become one of the strongest European producer of cooking appliances and it will also strengthened Gorenje market share in the Central and Eastern Europe. Mora Moravia, a.s., is located in the town MariŠnské Údolí in Moravian region in the Czech Republic. The company was established in the year 1825, and is a producer of cooking appliances with notable market share in the Czech Republic, Slovak Republic and in the other Eastern Europe countries.

Date: 4. 1. 2005