The Annual General Meeting of Podravka d.d. Koprivnica

Today, beginning at 12 o ‘clock, the Annual General Meeting of Podravka d.d. Koprivnica was held in the seven-storey Podravka d.d. office building in Koprivnica, Ulica A. Starčevića 32. The agenda of the General Meeting was as follows:

1. Discussion and decisions on the main financial reports for the business year 2000.
   1.1. Consolidated Report of the Podravka Group
   1.2. Consolidated Report of Podravka d.d.
   1.3. Report by the independent auditors of Podravka d.d.
   1.4. Report of the Supervisory Board of Podravka d.d. on thesupervision of Podravka d.d. business operations in 2000
   1.5. Annual Report of the Management Board of Podravka d.d.on the business operations of Podravka in 2000 and the position of the company
2. Use and allocation of profits of the business year 2000
3. Approval of the Report of the Management Board of Podravkad.d.
4. Approval of the Report of the Supervisory Board of Podravka d.d.
5. Appointing auditors of Podravka d.d.

Regarding the first item on the agenda, the General Meeting adopted by a majority of votes the main financial reports for 2000 with the opinions of the authorised auditors both for Podravka d.d. and for the Podravka Group. The Report of the Supervisory Board of Podravka d.d. on the supervision of business operation was adopted, as well as the Annual Report of the Management Board on the business operations of the Podravka Group in 2000 and on the position of the Podravka company.

The General Meeting passed by majority vote the decision on the use and allocation of profits for the business year 2000. By this decision, the profit of 29,187,977.84 kuna will be recorded in the financial accounts of the company for the business year 2000, and will be allocated in the following way:

– 5% of profits in the amount of 1,459,398.89 kuna will be allocated to legal reserve requirements – the amount of 1,386,428.95 kuna will be allocated to the statutory reserves

– part of the profit, in the amount of DM4.041,250, will be paidin the form of a dividend to the European Bank for Reconstruction and Development – the remaining profits after allocation to legal and statutory reserves and the payment of the dividend to the EBRD, will be allocated to retained profits.

Regarding the third item on the agenda, the General Meeting voted to adopt the Report of the Management Board of Podravka d.d., approving their leadership of the company Podavka d.d. in the year 2000.

The General Meeting also adopted the Report of the Supervisory Board, approving their work and supervision of the business operations of Podravka d.d. in 2000.

Concerning the fifth item on the agenda, that is, the auditing of the financial reports of the Parent Company, Podravka food industry d.d. Koprivnica, and of its affiliated companies, as well as the auditing of the consolidated financial reports of the Podravka Group, the General Meeting passed the decision by a majority vote to appoint the company PricewaterhouseCoopers d.o.o. Zagreb.