The meeting was attended by 21 participant representing 184407 shares or votes i.e. 55,46% of overall number of votes or equity which at the moment amounts 332.484.000,00 kn, all members of Supervisory Bord and Management and Notary Public Božo Marković.

The meeting was chaired by Ms Tatjana Braškić, the most senior member of Supervisory board present at the meeting.

The meeting started at 10:00.

All items on the agenda were voted through (except for the third one which was not put to a vote) and therefore all decisions were accepted with 184.407 votes, i.e. unanimously.

At the Assembly meeting of Jadranka d.d. Mali Lošinj, Dražica 1, held on 08.09.2006. in Hotel Bellevue the following decisions were made:

Ad 1) The report made by the Company management on the state of the Company was adopted.

Ad 2) The report made by Jadranka d.d. Supervisory board on completed supervision of Company business management was adopted.

Ad 4) Decision on management of profit made in 2005 was made and reads as follows:

I. It is established that in 2005 the Company made net profit of 5.886.360,20 kn.

II. It is established that the balance sheet dated 31.12.2005. shows a retained profit of the Company at the amount of 31.553.995,30 kn.

III. Share of the profit made in 2005 (5%) amounting 294.318,01 kn shall be allocated for legal reserves.

IV. Share of made profit at the amount of 4.657.365,00 kn shall be payed out to shareholders as a dividend.

V. The rest of made profit amounting 934.677,19 kn shall be allocated for retained profit.

VI. Dividend is established in form of gross amount, 15 kn a share.

VII. Every individual or legal person, who on payment day disposes of securities' account with registered Company shares in Central depository agency is entitled to a dividend.

VIII. Dividend shall be payed out to shareholders' account on 05.10.2006.

Ad 6) The Supervisory board members accepted the final report in terms of approving their activities in the year 2005.

Ad 7) The provisions of Jadranka d.d. statute are modified:

Article 45 is modified and reads as follows:

(1) The General assembly is presided by Supervisory board chairperson.

(2) In case that Supervisory board chairperson fails to act, the General assembly shall be presided by a supervisory board member chosen by a chairperson, to act on his/her behalf. In case the Supervisory board chairperson fails to act and has not chosen a member of Supervisory board, than the General assembly shall be presided by the oldest member of Supervisory board present at the meeting.

(3) A chairperson of the General assembly distinctly:

(a) presides the meetings of General assembly, establishes the validity of convocation of General assembly and fullfilment of all the conditions of shareholders' participation and voting, signs the list of participants present at the General assembly and decisions of General assembly, identifies the order of discussion on particular items on the agenda, identifies the order of voting procedure on certain motions, defines the voting procedure on particular motions and any other procedural matter which has neither by law nor by this statute come with the competence of the meeting itself, and

(b) on behalf of the General assembly communicates with other units of the Company and the third parties, when anticipated by law or this statute.

In the article 54 subsection 1 is modified and reads as follows:

(1) Every individual or legal person who on payment day disposes of securities' account with registered Company's shares in the Agency, is entitled to a dividend.

Ad 8) The provisions of Rules of procedure of Jadranka d.d. General assembly were modified.

Article 8 is modified and reads as follows:

(1) The General assembly is presided by Supervisory board chairperson.

(2) In case that Supervisory board chairperson fails to act, the General assembly shall be presided by a supervisory board member chosen by a chairperson, to act on his/her behalf. In case the Supervisory board chairperson fails to act and has not chosen a member of Supervisory board than the General assembly shall be presided by the oldest member of Supervisory board present at the meeting.

(3) Employees of the administrative and technical service of the Company take part in the activities of General assembly offering their assistance.

The term «president of the General assembly» in the whole text was modified into the term «chairperson of the General assembly» in appropriate gramatical case.

Ad 9) The Audit Company Inženjerski biro – revizija d.o.o., Rijeka, Riva 20, was appointed for auditor of the Company in 2006.

The meeting was concluded at 11:00.

Chairperson of the General assembly
Tatjana Braškić