Pursuant
to the provisions of the Capital Market Law and the Rules of the Zagreb Stock
Exchange, notice is hereby given that on 17 May 2011, which is the due date, Podravka d.d
redeemed the bond in amount of HRK 375 million.

These bonds were included on the Official Market of
the Zagreb Stock Exchange under the symbol PODR-O-115A. Bond is redeemed with funds from Facility Agreement
dated 16 December 2010.