Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and relevant legislation, Pozavarovalnica Sava, d.d., Ljubljana ('Sava Reinsurance Company') hereby announces the following:

As part of the process of merging four Sava Re Group companies (Zavarovalnica Maribor, Zavarovalnica Tilia, Velebit osiguranje, Velebit životno osiguranje), these companies were valued for the purpose of determining the exchange ratio.

The company Deloitte svetovanje d.o.o. was selected by the Sava Re Group for valuing all four companies, which was a valuation solely for the purpose of determining the exchange ratio. The values assessed by Deloitte svetovanje d.o.o. for a 100 % stake of each company (and set without any discount for this purpose) are:

Zavarovalnica Maribor (€ 210.8-234.1 million)

Zavarovalnica Tilia (€ 46.1-52.0 million)

Velebit osiguranje (€ 3.5-4.1 million)

Velebit životno osiguranje (€ 3.5-4.2 million)

The exchange ratio will be fixed based on the valuations made and after the audit thereof by an external auditing firm.

This announcement will be available on the Company's website at www.sava-re.si, at least five years from the date of the announcement.

Pozavarovalnica Sava d.d. issued this content on 06 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 April 2016 13:41:16 UTC

Original Document: http://www.sava-re.si/en/media-centre/news/1373/estimated-value-of-investments-in-subsidiaries-for-the-purposes-of-determining-the-exchange-ratio-in-the-business-combination/