TERME ČATEŽ d.d. Topliška cesta 35, 8251 ČATEŽ OB SAVI RELEASE HEREBY. DATA ON PERFORMANCE OF THE COMPANY In the period January March 2010

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TERME ČATEŽ d.d.

Topliška cesta 35, 8251 ČATEŽ OB SAVI RELEASE HEREBY

DATA ON PERFORMANCE OF THE COMPANY In the period January – March 2010 Čatež ob Savi, May 2010

The published review of data and annotations on business performance of Terme Čatež d.d. in the period January – March 2010 shall be available to the public from the moment it has been

published on SEOnet of the Ljubljana Stock Exchange and/or on the website www.terme-catez.si under:

>About the company< >Press room<

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Pursuant to the regulations of the Ljubljana Stock Exchange Rules (Ljubljanska borza, d.d., Ljubljana) and the Financial Instruments Market Law (orig. ZTFI) Terme Čatež d.d. company, Topliška cesta 35, 8251 Čatež ob Savi, releases hereby the non-audited data and annotations on business performance of the company in the period January – March 2010. Identity card of the company

Company name: Terme Čatež d.d. Activity: 55.100

Company registration number: 5004896 Tax number: 55444946

Reg. number: 10080100.

Date of entry in the Companies Register: 23 Nov. 1995 Company's share capital: € 12,444,216.32

Number of shares issued: 497,022 Face value of a share: ordinary shares

Shares listing: Ljubljana Stock Exchange, standard listing, share marking: TCRG

Management Board: Bojan Petan

Chairman of Supervisory Board: Robert Krajnik

The company Terme Čatež d.d. is engaged in various activities: hotel, catering, health resort, trade, sports, recreational and others.

The company Terme Čatež d.d. is engaged in various activities: hotel, catering, health resort, trade, sports, recreational and other.

Pursuant to the Act on Medicinal Substances and Spa Health Resorts (Official Gazette of the SRS, no. 36/1964), it was established that the thermal water, staff, equipment and premises comply with the requirements of the above specified Act, and Terme Čatež d.d. obtained the status, i.e. was registered as a "spa health resort" in 1964.

Written documents on the Spa originate from 1886 and mention »hot thermal springs«. The first hotel was built in 1926 and has been in the course of years reconstructed to the existing Toplice Hotel. Today, Terme Čatež has got the controlling position in a Group of companies in Slovenia, Croatia and Bosnia and Herzegowina. Terme Čatež d.d. company is one of fifteen Slovenian Natural Spas, having the leading role in Slovene tourism.

Its share was the first one in the tourism branch listed (7 June 1993) on the Ljubljana Stock Exchange.

Parent company Terme Čatež d.d. operates on three locations: • In Čatež on 45 hectares, on the right bank of the Sava River; • In Mokrice (6 km from Čatež) on 60 hectars; and

• In Koper, where the Koper Hotel and the Žusterna Aquapark Hotel are located.

Terme Čatež Group consists of the holding (parent) company Terme Čatež d.d. and the subsidiaries as follows:

• Marina Portorož d.d., Cesta solinarjev 8, 6320 Portorož

• Turistično podjetje Portorož d.d., Cesta solinarjev 8, 6320 Portorož • Del Naložbe d.d., Topliška cesta 35, 8251 Čatež ob Savi

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• Terme Ilidža d.o.o., Ulica Mala aleja 40, Sarajevo; and • Termalna riviera d.o.o., Trg Loža 1, Novalja

Company and ist head-office Type of equity Investm. Share of Terme Č. Treas.s. (%) In equity of subsid. Number of shar. In possession By Terme Č. Number of Šhares TOTAL

DEL NALOŽBE d.d., Čatež ob Savi shares 100.00 56,314 56,314

TERME ILIDŽA d.o.o., Sarajevo Hold. 90.00

MARINA d.d., Portorož shares 73.45 230,570 313,932

TP PORTOROŽ d.d., Portorož shares 86.44 168,555 195,000

TERMALNA RIVIERA d.o.o., Novalja Hold. 100.00

Performance highlights in the period January – March 2010

a) Performance quantifiers

Terme Čatež d.d. realized in the first three months of 2010, as follows:

- 127,532 overnight stays, which is by 1.5 % (i.e. 1,928 overnight stays) more than in the same period of the past year and

- 186,435 entrances to the swimming pools. b) Investment highlights

LOCATION TERME ČATEŽ

• Refurbishment and expansion of Terme Hotel

The beginning of May 2010 sis starting the first part of hotel rebuild, i.e. the works began with the refurbishment of the hotel kitchen and restaurant and shall have been finished until the beginning of July 2010.

The whole project, including the expansion, new hall, refurbishment of the pool area and saunas, hotel garage and exterior is estimated to € 16,840,000 and shall have been finished in August 2012. The investment referred to is granted a subsidy by the European Regional Development Fund and confirmed by the Ministry of Economy of Slovenia.

• Expansion of the campsite with the adherent infrastructure

The growing interest for camping vacation requires the expansion of the campite. The successful co-operation with the foreign companies Vacansoleil and Roan, the lessees of a part of the campsite, and the growing quality requirements of contemporary campers demand additional camping-pitches. Therefore, new sixty camp sites behind Toplice Hotel were constructed with the adherent infrastructure. The whole project shall have been finished at the beginning of May 2010.

• Construction of sanitary facilities in the campsite

The expansion of campsite requires also additional sanitary premises; they are located in the Eastern part of the campsite. The investment was finished at the end of April 2010. The bathrooms are equipped according to the highest standards (5-star) and have got washing machines, driers and dish-washers. New are also individual bathrooms for rent.

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• Pirates’ Bay

New creative ideas resulted in a new attraction – the PIRATES' BAY, consisting of the settlement of twenty wooden cabins set on the lake and connected to the land by gangways.

The cabins are made of natural materials giving the impression of familiarity. The wooden platform in front of each cabin is an ideal spot for relaxation and indulgence. The cabin (25 sm) can accomodate up to five persons.

It consists of an equipped kitchenette (with fridge), dining corner, twin bed and additional extension bed and an additional bed for two in the attic.

Like pirates, families with children will enjoy, romantic couples, attendants of team building programmes, sportsmen and others who would like to spend their holidays in a quite different manner. The pirates' Bay is an ideal spot for adventures like many others of them at Terme Čatež.

• Campsite restaurant

Since the campsite has been essentially expanded, a new restaurant was constructed for the requirements of numerous guests living in the apartment village and campsite resp.

LOCATION MOKRICE

• renewal of the green area of golf course LOCATION ŽUSTERNA

* Refurbishment of available pavillons to family suites; renewal of hotel terrace

Aquapark Žusterna Hotel*** (Slovene coast) has already welcome first guests in the new Lavender family suites. Close to the sea, the guests (young families mostly) can be accomodated in six larger suites (four persons each) and four apartments for two. Half of them being in the groundfloor, the rest on the floor, each of them having a terrace and parking lot in the hotel garage.

c) Financial statement

Terme Čatež d.d. made in the first three months of 2009 as follows: - € 7,000 thousand in revenues and

- € 297 thousand in net profit. d) About the share

Market price of Terme Čatež d.d. shares (standard price at the Ljubljana Stock Exchange) as at 31 December 2009 equalled € 189.50, whereas as at 31 December 2008 it amounted to € 195.00 (2.82% drop).

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e) Personnel

As at end of 2009 the number of employees was 495 in total (337 women i.e. 69.7 % and 158 men – 30.3 %).

f) Supervisory Council Meeting

Supervisory Council of Terme Čatež d.d. adopted on its meeting dated 14 May 2010 the audited Annual Report of Terme Čatež d.d. company and Terme Čatež Group for 2009.

Changes in ownership structure

About the share

Equity capital of the company as at 31 March 2010 amounted to € 12,444,216.32 and is divided into 497,022 ordinary registered shares of the same class (marked TCRG ). The shares are listed on EXTRACT FROM THE SHAREHOLD. REGISTER as at 31 March 09

31 March 09 31 March 09

Percentage Number

SHAREHOLDER Ownership Of shares

DZS, d.d. 45.01 224159

KAPITALSKA DRUŽBA, D.D. 23.79 118262

DELO PRODAJA, d.d. 9.15 45463

TRIGLAV MUTUAL FUNDS-STOCK F. 3.99 19850

ZAVAROVALNICA TRIGLAV, d.d. 1.66 8247

Del Naložbe d.d. 1.38 6840

ABANČNA DZU DELNIŠKI EVROPA 1.09 5393

ATTEMS JOHHANES 1.01 5005

DRASCHE WARTINBERG ELENORE 1.00 4962

RAU GABRIELLE 1,00 4962

OTHER SHAREHOLDERS 10.84 53897

TOTAL 100.00 497,022

EXTRACT FROM THE SHAREHOLD. REGISTER as at 31 Dec 09

31 Dec 09 31 Dec 09

Percentage Number

SHAREHOLDER Ownership Of shares

DZS, d.d. 45.01 223689

KAPITALSKA DRUŽBA, D.D. 23.79 118262

DELO PRODAJA, d.d. 9.15 45463

TRIGLAV MUTUAL FUNDS-STOCK F. 3.99 19850

ZAVAROVALNICA TRIGLAV, d.d. 1.66 8247

Delikatesa d.d. 1.38 6840

ABANČNA DZU DELNIŠKI EVROPA 1.09 5393

ATTEMS JOHHANES 1.01 5005

DRASCHE WARTINBERG ELENORE 1.00 4962

RAU GABRIELLE 1,00 4962

OTHER SHAREHOLDERS 10.93 5,349

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the Ljubljana Stock Exchange.

Market price of Terme Čatež d.d. shares (standard price at the Ljubljana Stock Exchange) as at 31 March 2010 equalled € 185.00, whereas as at 31 March 2008 it amounted to € 195.00 (5.1% drop). The holdings in subsidiaries are as follows:

Del naložbe d.d. 6,840 TCRG-shares

The dividend policy reflects the equity ratio, expectations of the owners, investment policy, tax policy and business expectations. The Annual General Meeting of Shareholders adopted on their 14th

meeting dated 27 August 2009 the resolution on dividend pay-out, i.e. € 5 gross value per share. As at the end of March 2010 - 1,085 shareholders of Terme Čatež d.d. were registered in the register of shares kept by the Central Securities Clearing Corporation in Ljubljana. Terme Čatež d.d. has got no entry of treasury shares in the Register of Shares.

Share price and share trading in the period from March 2009 until March 2010 Source: The Ljubljana Stock Exchange

The company or any other third person received no pledged treasury shares on the account of the company or pledged any treasury shares as at 31 March 2010.

Book value of the share as at 31 March 2010, calculated from the ratio between equity capital and the number of shares issued, amounted to € 143.3, whereas as at 31 December 2009 it amounted to € 142.7.

Earning per share was calculated from the ratio between the net profit earned in the accounting period (the numerator) and the number of issued shares (the denominator), and amounted to € 0.6 (€ 0.49 in the first three months of 2009), that being a drop by 33.5 % compared to the same period of 2009.

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The company Terme Čatež d.d. has no pending resolution on conditional increase of share capital nor a resolution on approved capital.

Management Board and Supervisory Council

The Management Board of Terme Čatež d.d. represents and controls Mr. Bojan Petan, CEO. Supervisory Council of Terme Čatež d.d.

- Mr. Robert Krajnik - Chairman

- Mr. Johannes Attems - Deputy Chairman - Mrs. Ada de Costa Petan - Member - Mr. Mitja Grum - Member

- Mr. Tomaž Pogorelec - Member - Mr. Vladimir Smolec - Member

Workers' Council Representatives elected to Supervisory Council: - Mr.Dragan Štipula

- Mr. Damjan Krulc - Mr. Milan Blaževič

PROFIT / LOSS STATEMENT

in EUR

01.01.-31.03.2010 01.01.-31.03.2009 01.01.-31.03.2009

Item corrected

Net turnover 6.886.577 7.032.000 6.567.840

Other operating revenues 113.606 90.399 84.007

Gross operating profit 7.000.183 7.122.399 6.651.847

Costs of goods, material and service 2.705.008 2.746.560 2.324.748

Labour costs 2.193.970 2.173.973 1.999.253

Amortization 1.200.379 1.139.577 1.088.255

Other operating expenses 198.834 141.140 132.549

Operating profit 701.992 921.149 1.107.042 Financial revenues 132.571 34.423 34.334 Financial expenses 463.018 361.878 249.018 Profit / loss -330.447 -327.455 -214.684

Profit before tax 371.545 593.694 892.358

Corporation tax 74.309 124.676 187.395

Net profit for the accounting period 297.236 469.018 704.963

Number of shares 497.022 497.022 497.022

Earning per share (in EUR) 0,60 0,94 1,42

Due to the merger with Cvetje Čatež d.d. due on 1 January 2009, the correction of profit & loss statement of Terme Čatež d.d. was conducted for the first three motns of 2009. The resolution on the

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adopted merger date – i.e. 1 January 2009, was officialy registered by the Register Court on 31 December 2009.

The sales revenues made in the first three months of 2010 decreased by 1.7 % in comparison with the same period of the past year, but the expenses grew by 1.6 %. Net profit for the period

amounted to € 297 thousand and is lower than the realized one in the same period of 2009 by € 172 thousand.

The equity of Terme Čatež d.d. as at 31 March amounts to € 70,227 thousand, as at 31 December 2009 - € 69,930 thousand.

Plan and forecast 2010

Terme Čatež plan for 2010 - € 34 million in operating revenues, € 7.3 million in operating profit and € 5.1 million in net profit.

Further, 721,500 overnight stays are planned for 2010, that being by 4 % more than in 2009, and 1,023,000 bathing guests shall have visited the Spa by the end of the year.

The company shall invest appr. € 3 million into: - Expansion of the campsite and its infrastructure - Construction of mechanical clearing plant unit IV - Lagoon settlement on the artificial lake at the campsite - Parking lots by the Thermal Riviera

- Construction lay-outs for the rebuild of Mini-Casino, link between Čatež and Toplice Hotels, expansion of the restaurant and relocation of the Toplice hotel kitchen, venue for animation and social gatherings, additional upper floors to the Toplice hotel

- Campsite restaurant

- Reconstruction and expansion of the Terme Hotel (towards the end of year 2010)

- Construction of Thermal Oasis on the Summer Thermal Riviera (2nd part of the current year) - Construction of water piping system on the Mokrice golf course

- Reconstruction of the available pavillons into family suites and the linking corridor in Žusterna Hotel

The current investment policy is set on improving and sustaining the quality of offered products, while bigger investments depend on the actual economic situation at home and abroad.

The price policy is aligned with the offer of competitive capacities of other natural Spas and tourist centers in Slovenia.

Terme Čatež Group plans in 2010 € 51 million in operating revenues, € 9.2 million in operating profit and € 4 million in net profit.

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Plan realization

Indexes - TERME ČATEŽ d.d. v € January - March 2009 January - March 2010 PLAN January - March 2010 INDEX compar. 2009 R10/R09 INDEX plan realizat. R10/PL10 Net turnover 7,032,000 6,886,577 7,009,938 97.93 98.24

Operating profit / loss 921,148 701,993 1,001,522 76.21 70.09

Net profit / loss 469,018 297,236 461,290 63.37 64.44

Added value 4,345,962 4,249,339 4,358,930 97.78 97.49

Number of empl.per hour 482 457 460 94.81 99.35

Gross operat.profit / empl. 14,777 15,318 15,324 103.66 99.96

Added value per empl. 9,017 9,298 9,476 103.13 98.13

Operating profit before depreciation in gross operating profit

28.93% 27.18% 31.14% 93.93 87.26

Net profit in equity % 0.74 0.42 0.70 56.82 60.46

Events after the accounting period

There followed no essential events after the accounting period.

Access to the released data

The released data on performance of Terme Čatež d.d. in the first three months of 2010 shall be available to the public from the moment they are published on the website www.terme-catez.si under:

>About the company< >Press room<

>Press releases<

Terme Čatež d.d. Management Board

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