GORENJE, d.d., Velenje

Ambitious plan for the Year 2005 and solid business performance in the Year 2004

On its 18th regular meeting held on Dec. 16, 2004 the Supervisory Board discussed and approved the 2005 Business Plan of Gorenje d.d. and Gorenje Group. The Supervisory Board evaluated business operations in view of extremely difficult circumstances and assessed the results for the year 2004 as satisfactory. Considering the anticipated poor state of future economic environment, the business plan is conceived as ambitiously.

Please, see the attached file, regarding Gorenje Group business plan for the Year 2005, according to IFRS.

Date: 17. 12. 2004