DEADLINE FOR STATING POSITION ON OFFER FOR PURCHASE OF ZABA SHARES EXPIRES

ZAGREB, March 1 (Hina) - The deadline until which current shareholders of Zagrebacka Bank (ZABA) could state their position on the offer of the UniCredito-Allianz consortium, which wants to acquire full ownership of ZABA, expired at 3pm on Friday. According to the offer, which was announced on February 15, the consortium has bound itself to give 49.06 new UniCredito shares and USD47.71 in cash for each ZABA share, which in total amounts to USD238.57 per share. The consortium presented three basic conditions for the offer to be successful: it must be accepted by shareholders who own at least 70% of ZABA's voting stock capital, the shareholders should accept the payment of a special dividend of seven dollars per share as well as certain changes to the bank's statute. The payment of the special dividend was accepted at a meeting of the shareholders' assembly on February 27, in line with a proposal by the bank's management board and supervisory committee. ZABA shareholders' assembly will meet again as early as March 4 to discuss changes to the bank's statute. If the offer is accepted, ZABA shares would be transferred to the consortium and new UniCredito shares issued on March 5. The cash payment for the new shares would be transferred to ZABA shareholders on March 14. (hina) rml