Issue of a certificate recognising tax entitlements

Pursuant to the provisions of the Rules of the Ljubljana Stock Exchange d.d. and the Securities Market Act (ZTVP-1) (Official Gazette of the Republic of Slovenia, No. 56/99), KD Group, d.d., Ljubljana, hereby issues the following announcement:

Pursuant to Article 66 of the Securities Market Act (ZTVP-1, Official Gazette of the Republic of Slovenia, No. 56/99) and the Rules of the Ljubljana Stock Exchange, KD Holding, finančna družba d.d., Celovška 206, Ljubljana, hereby announces that on 29 July 2004 it received a decision from the Ljubljana Tax Office (Ministry of Finance of the Republic of Slovenia, Tax Administration), whereby the latter grants authorisation to the transferring company KD Naložbe d.d. and the receiving company KD Holding d.d., recognising their entitlements in accordance with Articles 41 and 47 of the Corporate Income Tax Act – ZDDPO-1 (Official Gazette No. 40/04, 54/04 – Zdav-P and 70/04 – corr.), provided that the companies submit the specified supporting documents within the prescribed time limits, namely:
- evidence of the residency of the shareholders of the transferring company, as at the date of the merger, within 60 days of the merger,
- the balance sheet of the transferring company as at the date of the merger, specifying the assets and liabilities being transferred, within 60 days of the merger,
- details of the amounts of reserves and provisions formed by the transferring company in its balance sheet as at the date of the merger, and the amounts of the transferring company’s losses, tax exemptions and the conditions relating thereto which would apply to the transferring company had the transfer not been carried out, within 60 days of the merger,
- details of the receiving company’s shareholding, if any, in the transferring company, within 60 days of the merger.

The authorisation is granted for the merger procedure. The decision shall become final upon the expiry of the 15-day appeal period following the service of the authorisation, namely on 13 August 2004. The decision is available for inspection by shareholders at the registered office of KD Holding d.d., Celovška 206, Ljubljana, on any working day.



KD Holding d.d.
Management Board