We hereby inform that the Supervisory Board of Belupo Inc. ha appointed magister pharmacy and Business administration, Hrvoje Kolarić for the president of the Management Board of Belupo Inc. for new five years mandate.
Mrs. Ksenija Punčikar previous CFO, magister of economy and business administration is at the same time appointed to the Management Board as a member.

Mr. Stanislav Biondić, whose mandate as the member of the Management Board of Belupo Inc. expired, will stay in Belupo Inc. as the advisor to the Management Board. The members of the Supervisory Board unanimously confirmed that Mr. Stanislav Biondić has very much contributed to the growth and development of Belupo, which became strong regional leader, in comparison with similar foreign companies.

Hrvoje Kolarić was appointed to the position of the member of the Management Board of Belupo in May 2005, and at the end of that year he was also appointed to the Management Board of Podravka Inc.

Ksenija Punčikar works for Belupo more than two years, and in previous nine years she was engaged on number of executive positions in Podravka Inc. and in company ACG Lukaps. She is the magister of the economy from the Faculty of Economy in Zagreb and has MBA from IEDC Bled. She also acquired the licence for brokerage services in Croatia.

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