2001. All rights reserved

VRANICA d.d.

notice to shareholders

Vranica d.d.
IS INVITING ITS SHAREHOLDERS TO REGULATE THEIR RELATIONSHIPS WITH THE COMPANY

The Company's shareholders are invited to apply to the Company headquarters, addressed at: 8 Antuna Branka Simica, Sarajevo (phone +387 33 664-822 or 664-823, fax 715 221; e-mail: vranicag@bih.net.ba) with a purpose to view the official list of shareholders and make amendments to the data necessary for exercise of the shareholder' s rights in reference to participation and decision-making at the Shareholders' General Meeting of VRANICA DD SARAJEVO.

The status of the shareholder could be acquired by persons who were employed in the Company within a period since July 01,1990 till March 31. 1992, as well as the employees of the company and all other persons who have purchased the Company's shares in the First round of the Public shares subscription finished on March 28, 2001.

It's in the best interests of the shareholders to respond to this invitation as soon as possible, since they can thus obtain the required information concerning their status in the Company.

At the same time, by responding to this invitation and through submitting necessary deficient data for a proper evidence and records of the shareholders in the Company and by the competent authorities, you will help the Company in fulfilling its obligations to the shareholders pursuant to the effective legal regulations.