Pursuant to stipulations in the
Capital Market Law and the Rules of the Zagreb Stock Exchange, we would like to
inform you that based on the decision of Management
Board from September 09, 2008, PODRAVKA d.d. has decided for short-term
financing by issuing commercial bills.

Raiffeisen Bank Austria d.d.,
Petrinjska 59 Zagreb is an arranger, issuance agent and dealer of the Program
for commercial bill issuance.

PODRAVKA prepared the Program for
issuance of commercial bills totalling to HRK 350 million, for the period 3 to 5
years, start with the date of the first drawdown.

Maturity date of the drawdown is in
the term of 7 to 364 days.

PODRAVKA´s commercial bills will be
listed in the Zagreb Stock Exchange in quotation of  short-term
securities.