8/26/2009

General Assembly of Shareholders of SIJ

The General Assembly of Shareholders was familiarized with the annual report SIJ - Slovenska industrija jekla, d.d., and SIJ Group, as well as of the opinions of the auditors, which were positive and without reservations both for individual companies and the Group as a whole.

In 2008 the SIJ Group generated EUR 702.9 million in net consolidated revenues, a 3.5 % increase compared to the preceding year. All 2008's physical operating indicators, production volumes and sales, comparatively exceeded the figures for 2007, and with a Net Profit of EUR 37.9 million, the average added value also increased by 1.9 %, amounting to EUR 44,807 per employee. The average number of employees increased by 3.2 % in 2008, and totalled 3490.

The General Assembly of Shareholders issued a discharge for the financial year ended 31 December 2008 to the Management Board and Supervisory Board, and approved the proposal of the Management Board and Supervisory Board to keep the company's distributable profits of EUR 260,686 undistributed.

The General Assembly of SIJ once again appointed the audit firm Deloitte revizija, d.o.o. as the auditor for individual companies of SIJ and for the Group as a whole, for the business year ended on 31 December 2009.

Due to the resignation and thereby termination of the function of the Supervisory Board Members Aleš Rojs, Mikhail Manaenkov and Aleksandr Sivoronov, the General Assembly of Shareholders passed a resolution to appoint replacement members of the Supervisory Board, namely Leonid Novikov, Sergey Cherkaev and Konstantin Zaytsev, for a term ending on 11. 4. 2011.

The General Assembly of Shareholders passed a resolution stating that a bonus of EUR 10.000 should be paid out to each Supervisory Board Member in recognition of their performance during 2008.

BUSINESS CARD

SIJ - Slovenian Steel Group, d. d.

Gerbičeva 98
1000 Ljubljana
Slovenia

T: +386 1 242 98 00 F: +386 1 242 98 55 E: info@sij.si

IMH - Industrial Metallurgical Holding

SIJ is an

Eurofer,

www.worldsteel.org and www.worldstainless.org member.