Media releases

Podravka has issued the fourth tranche of commercial papers to the amount of 20 million kuna. The nominal yield amounts to 2.85%, which is the cheapest form of kuna financing in Croatia. The tranche falls due on 06 March 2003.

Today is the 45th anniversary of the production of Podravka soups. On this occasion we will draw out the name of the winner who will participate in the prize game "For loyalty to the heart of Podravka". Today Podravka soups are sold in more than 30 countries around the world. Together with packet soups Podravka has also developed new categories of products such as semi-processed Talianetta dishes with pasta and rice, Fant special food complements and Fini-Mini instant soups.

In conformity with the provisions of the Rules of Listing Securities in Quotation I of the Zagreb Stock Exchange, we would like to inform you that the Supervisory Board of Podravka d.d. at today's meeting passed a Decision on the Agreement with the Decision of the Podravka d.d. Management Board on the public offering of Belupo shares and the listing of Belupo d.d. in Quotation I of the Zagreb Stock Exchange.

The pharmaceutical company Belupo, under 100% ownership of Podravka d.d., was registered as a joint stock company at the Commercial Court in Bjelovar yesterday. The change in the legal status of Belupo is in conformity with Podravka's strategy which is defined by two basic activities: the food industry and pharmaceuticals.

In accordance with the business strategy of Podravka d.d., and in accordance with the planned average annual growth of 10% - which will partly be realised through organic growth and partly through acquisitions and strategic alliances - Podravka d.d. will tomorrow take over the Czech company Lagris a.s.

Siemens and Podravka signed an Agreement on equipping a new Podravka Meals plant today. Mirko Barišić, Chairman of the Board, signed the Agreement on behalf of Siemens, and Darko Marinac, President of the Management Board, signed it on behalf of Podravka. The value of the Agreement is almost 28 million kuna. In accordance with this Agreement and on the basis of previous positive experiences and past co-operation Siemens will connect all the processes in the Podravka Meals plant through an information system. This will enable the production processes to be monitored through the use of information technology and at the same time the new Podravka Meals plant will be united with the central SAP system of the Podravka Group.

Apart from the existing three products from Podravka's programme of frozen prepared meat, seven new products from the Podravka frozen food range will be launched on the market in mid-September. They will include: Grill mix, meatballs, "beer" and grill sausages, "čevapčići", hamburger and "danburger" seasoned with Vegeta Twist. As well as for retail sales, these products are also manufactured for gastro consumers.

The auditing house Det Norske Veritas executed a certification audit of the quality management system in the strategic business units of the Podravka meals Lino, Dolcela and Kviki in June 2002. One of the most significant activities which preceded this certification cycle was the implementation of Q-Pulse software for the on-line management of the system documentation.