Package of stocks of Kragujevac-based "Žitoprodukt" on auction on August 27

The Share Fund of Serbia has announced today (August 11, 2008) that the package of 40.19% of stocks of "Žitoprodukt" from Kragujevac will be offered for sale on the Belgrade Stock Exchange on August 27 at the starting price of 417m RSD (5.4m EUR).

According to the web site of the Fund (www.share-fund.co.yu), total of 10,412 stocks of Kragujevac-based manufacturer of flour and bread will offered for sale on the auction at the price of 40,097 RSD per stock.

According to the data provided by the Belgrade Stock Exchange, that will be the third attempt of sale of the package of stocks of "Žitoprodukt" owned by the Share Fund and the Pension and Disability Insurance Fund. There were no interested buyers on the auctions in August and September 2007 when the price per stock was 63,042 RSD and 57,789 RSD respectively.

The stocks of "Žitoprodukt" are listed on the Belgrade Stock Exchange since June 2006 and the starting price of the stocks is 60,000 RSD, but there has not been any trade in these stocks so far.

"Žitoprodukt" owns bakery and milling unit with silos in Kragujevac. The company's total incomes in 2007 amounted to 663m RSD, while the loss was about 11m RSD.

The largest package of stocks of "Žitoprodukt" - 40.66%, is owned by "Žitoprodukt-komerc". The Share Fund owns 30.18% of stocks, the Pension and Disability Insurance Fund has 10%, while the remaining 19.16% of stocks belong to minor stockholders.