Darko
Marinac resigned from Podravka Supervisory Board’s member and president
functions. He said he is resigning in order to allow Podravka’s Supervisory
Board quietly resolve the problem that he had caused with his decision. To
remember, in 2007 as Podravka’s Management Board President, Darko Marinac
approved without any consultation with other Management Board members, two
loans worth 65 million kunas to the Split company SMS.

 – I
have made this decision on approving loan to the Split SMS by myself, without
any influence, and I must say that it was exclusively my decision at the time,
without any knowledge by the Management Board members – Marinac said when he
was resigning.

 The
decision was explained to the Supervisory Board that at the time he estimated
it to be a good business move.

 At its
following session the new Supervisory Board President will be elected.

 – We
have agreed that the Management Board takes all appropriate actions and report
to us on them, in order to resolve this situation as best as possible for
Podravka – Dubravko Štimac, Superisory Board member said.

The
Supervisory Board voiced that it is expected by the Management Board to take
all the necessary actions, i.e. to start the procedure of forced debt
collection over SMS.