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Explanation of Croatian Tourist Board on Award Anton Štifanić for the Company

Zagreb 11.07.2008.

Annual award Anton Štifanić for the Company Jadranka d.d. Mali Lošinj

A six decade period of Jadranka Company from Mali Lošinj is marked with a great effort made by generations of its employees as well as their visions through which they have been changing and still change not only the company itself, but also the Croatian tourism and economy as a whole. Despite the period unfavorable for investments, since 1993 the amount of 49 million euros has been invested for further development of this modern concern consisting of hospitality, camping and commerce. The prospects are even brighter – in a five year long period, which started last year, planned investments amount 80 million euros with a goal to raise standard of each hotel to four and five stars.

Continuously emphasising quality and harmony with genuine nature, which make this island a real scented garden and health resort, Jadranka employees have always represented pioneers who managed to expand the limits and achieve goals by constant persistency and clear vision.

Reasons for this lie in the following. The first one is the ESOP model of transformation and privatization which enabled 1500 of the Company's employees and locals to become its owners. The second lies in the fact that Jadranka shares were registered at Varaždin market 11 years ago. The most recent reason which gives Jadranka an outstanding position is the fact that in February 2008 European Bank for Reconstruction and Development entered into a 30 % ownership of Company Jadranka hotels. It strongly proves the highest standard of Company's business which enables investing in its facilities and employees, their training and bright future.

Owing a lot to exquisite values of the climate, area and heritage, Jadranka is promoting itself as a specialist of healthy life. Its offer tailored according to guests' expectations will gradually be enriched in line with modern, ecologically aware and active guest. A perfect example of how to expand the limits in tourism and economy in general to mutual satisfaction, their and our, deserves the Award Anton Štifanić for all that you are and you will surely become in the future.