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LUKA KOPER, d.d., Koper

Explanation as to Media Reports

On the basis of the provisions of Ljubljana Stock Exchange Rules and the Financial Instruments Market Act RS, Luka Koper d.d. publishes the following release:

Some media have reported that stockbroker companies managing Luka Koper d.d. portfolio on behalf of the company, in addition to Abanka Vipa d.d. stock also acquired shares of other companies in which state holders exceed the takeover threshold.

With regard to these statements, we would like to explain that while examining the request by Securities Market Agency to clarify facts and circumstances pertaining to its obligation, together with other shareholders of Abanka Vipa d.d., we established that portfolio manager concluded on the basis of Portfolio Management Agreement and behalf of Luka Koper several acquisitions and disposal transactions with Slovene issuers’ shares. In the examination procedure of said request, Luka Koper d.d. already informed the Securities Market Agency on this fact as well as delivered the data on these transactions.

The same as with Abanka Vipa d.d. stock, Luka Koper d.d. had no intention to acquire this stock and did not provide the portfolio manager any order whatsoever to acquire and/or dispose of said shares.

Speculations in media can not be commented in more detail due to the fact that supervision procedures by Securities Market Agency are still underway thus all facts and circumstances relevant to the Agency's decision and further related procedures by Luka Koper d.d. have not yet been established or confirmed. Provision of any other additional information to public could be contrary to the provisions of Financial Instruments Market Act RS regarding disclosure of controlled/inside information.

Luka Koper d.d. Management Board shall also in the future do everything necessary to protect Luka Koper d.d.'s interests.
Management Board
Date: 22.12.2010