SIF Oltenia S.A.

Net Asset Value • Nov 14, 2018

Situation of assets on 30/09/2018

Net asset	1.770.430.599 lei	2.070.182.037 lei
Total asset	1.824.576.020 lei	2.147.263.962 lei

	Name of the element	The beginning of the reporting period					The end of the reporting period
I.	TOTAL ASSETS	% of net asset	% of total asset	Foreign Currency	Lei	% of net asset	% of total asset	Foreign Currency	Lei
1	Securities and instruments of the monetary market, of which: 1.1 Securities and instruments of the monetary	67,1329	65,1407	0	1.188.542.064	61,2415	59,0431	0	1.267.810.179	79.268.115
	market admitted or traded on a settled market of Romania, of which:shares, other assimilated securities to them (each category being mentioned) , bonds (on categories of issuer), other receivables (being mentioned on types and categories of issuer), other securities, instruments of the monetary market (on categories);
		67,1329	65,1407	0	1.188.542.064	61,2415	59,0431	0	1.267.810.179	79.268.115
	- BVB - shares	49,2014	47,7413	0	871.076.228	47,5070	45,8016	0	983.481.873	112.405.645
	- AERO -shares	17,9316	17,3994	0	317.465.836	13,7345	13,2414	0	284.328.306	(33.137.530)
	- Preference rights	0,0000	0,0000	0	0	0,0000	0,0000	0	0	0
	1.2 Securities and instruments of the monetary market admitted or traded on a settled market of a member state, of which: shares, other securities assimilated to them (each category being mentioned), bonds (on categories of issuer), other receivables (being mentioned on types and categories of issuer), other securities, instruments of the monetary market (on categories);	0,0000	0,0000	0	0	0,0000	0,0000	0	0	0

Situation of assets on 30/09/2018

Net asset	1.770.430.599 lei	2.070.182.037 lei
Total asset	1.824.576.020 lei	2.147.263.962 lei

	Name of the element			The beginning of the reporting period		The end of the reporting period				Differences (lei)
I.	TOTAL ASSETS	% of net asset	% of total asset	Foreign Currency	Lei	% of net asset	% of total asset	Foreign Currency	Lei
	1.3 Securities and instruments of the monetary market admitted at the official rate of a stock exchange in a non member state or negotiated on another settled market of a non member state, which regularly operates and is recognized and open to public, approved by R.N.S.C of which: shares, other securities assimilated to them (each category being mentioned), bonds (on categories of issuer), other receivables (being mentioned on types and categories of issuer), other securities, instruments of the monetary market (on categories);	0,0000	0,0000	0		0 0,0000	0,0000	0	0	0
2	Newly issued securities	0,0000	0,0000	0	0	0,0000	0,0000	0	0	0
3	Other securities and instruments of the monetary market mentioned in art. 187 letter a): securities (on categories and types of issuer) and instruments of the monetary market (on categories);
		34,7315	33,7008	0	614.896.621	39,1861	37,7794	0	811.222.779	196.326.158

Situation of assets on 30/09/2018

Net asset	1.770.430.599 lei	2.070.182.037 lei
Total asset	1.824.576.020 lei	2.147.263.962 lei

	Name of the element	The beginning of the reporting period					The end of the reporting period
I.	TOTAL ASSETS	% of net asset	% of total asset	Foreign Currency	Lei	% of net asset	% of total asset	Foreign Currency	Lei
4	Bank deposits, of which:	0,0448	0,0435	410.919,81	381.928,55	2,3225	2,2392	425.765,17	47.654.699,07	47.287.616
	4.1 Bank deposits made in credit institutions of Romania;	0,0448	0,0435	410.919,81	381.928,55	2,3225	2,2392	425.765,17	47.654.699,07	47.287.616
	4.2 Bank deposits made in credit institutions of a member state;	0,0000	0,0000	0	0	0,0000	0,0000	0		0 0
	4.3 Bank deposits made in credit institutions of a non member state;	0,0000	0,0000	0	0	0,0000	0,0000	0		0 0
5	Financial instruments derived traded on a settled market	0,0000	0,0000	0	0	0,0000	0,0000	0		0 0
	5.1 Financial instruments derived traded on a settled market of Romania, on categories;	0,0000	0,0000	0	0	0,0000	0,0000	0		0 0
	5.2 Financial instruments derived traded on a settled market of a member state, on categories;	0,0000	0,0000	0	0	0,0000	0,0000	0		0 0
	5.3 Financial instruments derived traded on a settled market of a non member state, on categories;	0,0000	0,0000	0	0	0,0000	0,0000	0		0 0
	5.4 Financial instruments derived negotiated outside the settled markets, on categories of instruments;	0,0000	0,0000	0	0	0,0000	0,0000	0		0 0
6	Current accounts and cash	0,1706	0,1655	210.048	2.810.319	0,2296	0,2213	208.368	4.543.957	1.731.958
7	Instruments of the monetary market, other than those traded on a settled market, according to art. 101paragraph (1) letter g) of the Law no. 297/2004.	0,0000	0,0000	0	0	0,0000	0,0000	0		0 0

Situation of assets on 30/09/2018

Net asset	1.770.430.599 lei	2.070.182.037 lei
Total asset	1.824.576.020 lei	2.147.263.962 lei

	Name of the element	The beginning of the reporting period				The end of the reporting period				Differences (lei)
I.	TOTAL ASSETS	% of net asset	% of total asset	Foreign Currency	Lei	% of net asset	% of total asset	Foreign Currency	Lei
8	Participation securities of
	AOPC/OPCVM	0,1576	0,1529		0 2.789.494	0,1447	0,1395	0	2.995.766	206.272
9	Other assets (amounts in transit,
	amounts at distributors, amounts	0,0000	0,0000		0 0	0,0000	0,0000	0	0	0
9.1	at SSIF etc.) Shares due according to subscriptions to the
	increases of social capital	0,0000	0,0000		0 0	0,0000	0,0000	0	0	0
9.2	Other rights to receive	0,0000	0,0000	0	0	0,0000	0,0000	0	0	0

Dr. ec. Tudor Ciurezu Ec. Elena Sichigea

Situation of unit value of net asset on 30/09/2018

No. Item	Name of the element (according to RNSC Regulations no.15/2004)	30/09/2018	30/09/2017	Differences
1	No of shares issued	580.165.714	580.165.714	0
2	Unitary value of net asset	3,5683	2,8511	0,7172

Dr. ec. Tudor Ciurezu Ec. Elena Sichigea

The evolution of net asset and of VUAN in the last 3 years on 30/09/2018

No. Item	Name of the element (according to RNSC Regulations no.15/2004)	31/12/2016	31/12/2017	30/09/2018
1	Net asset	1.494.899.450	1.770.430.599	2.070.182.037
2	Unit value of net asset	2,5767	3,0516	3,5683

Dr. ec. Tudor Ciurezu Ec. Elena Sichigea

Net asset 2.070.182.037 lei

Total asset 2.147.263.962 lei

Securities admitted or traded on a settled market of Romania – BVB (shares)

No. Ite m	Issuer	Symbol	Date of last transaction	No of shares held	Nominal value	Share value	Total value	Weight in the issuer`s social capital	Weight in the total asset of SIF	Weight in the net asset of SIF
1	ALTUR SLATINA	ALT	28/09/2018	49.428.571	0,1000	0,0345	1.705.286	5,9958	0,0794	0,0824
2	ANTIBIOTICE IASI	ATB	28/09/2018	99.068.019	0,1000	0,4950	49.038.669	14,7568	2,2838	2,3688
3	B.R.D.-GROUPE SOCIETE GENERALE BUCURESTI	BRD	28/09/2018	16.483.162	1,0000	13,5400	223.182.013	2,3652	10,3938	10,7808
4	BANCA TRANSILVANIA CLUJ	TLV	28/09/2018	55.767.431	1,0000	2,3200	129.380.440	1,1588	6,0254	6,2497
5	BURSA DE VALORI BUCURESTI	BVB	28/09/2018	383.709	10,0000	25,0000	9.592.725	4,7670	0,4467	0,4634
6	C.N.T.E.E. TRANSELECTRICA BUCURESTI	TEL	28/09/2018	2.711.808	10,0000	23,5000	63.727.488	3,6994	2,9678	3,0784
7	COS TARGOVISTE	COS		6.142.826	0,1000	0,0000	0	8,9220	0,0000	0,0000
8	ELECTROMAGNETICA BUCURESTI	ELMA	28/09/2018	171.717.594	0,1000	0,1300	22.323.287	25,4006	1,0396	1,0783
9	OMV PETROM BUCURESTI	SNP	28/09/2018	718.100.277	0,1000	0,3625	260.311.350	1,2677	12,1229	12,5743
10	PRODPLAST BUCURESTI	PPL	26/09/2018	4.702.595	1,0000	2,7000	12.697.007	27,5450	0,5913	0,6133
11	S.E. ELECTRICA SA	EL	28/09/2018	123.718	10,0000	10,5200	1.301.513	0,0358	0,0606	0,0629
12	S.N.G.N. ROMGAZ S.A.	SNG	28/09/2018	1.583.729	1,0000	33,7500	53.450.854	0,4109	2,4893	2,5819
13	SANTIERUL NAVAL ORSOVA	SNO	24/09/2018	3.200.337	2,5000	2,7000	8.640.910	28,0168	0,4024	0,4174
14	SIF BANAT CRISANA	SIF1	28/09/2018	2.275.702	0,1000	2,4500	5.575.470	0,4376	0,2597	0,2693
15	SIF MOLDOVA	SIF2	28/09/2018	4.019.145	0,1000	1,2100	4.863.165	0,3967	0,2265	0,2349
16	SIF TRANSILVANIA	SIF3	28/09/2018	12.450.162	0,1000	0,2070	2.577.184	0,5700	0,1200	0,1245

Net asset 2.070.182.037 lei

Total asset 2.147.263.962 lei

Securities admitted or traded on a settled market of Romania – BVB (shares)

No. Ite m	Issuer	Symbol	Date of last transaction	No of shares held	Nominal value	Share value	Total value	Weight in the issuer`s social capital	Weight in the total asset of SIF	Weight in the net asset of SIF
	SNTGN TRANSGAZ
17	MEDIAS	TGN	28/09/2018	193.270	10,0000	352,5000	68.127.675	1,6415	3,1728	3,2909
18	T.M.K. ARTROM SLATINA	ART	28/09/2018	6.591.137	2,5100	4,1000	27.023.662	5,6737	1,2585	1,3054
19	TURISM FELIX BAILE FELIX	TUFE	27/09/2018	143.752.429	0,1000	0,2780	39.963.175	28,9736	1,8611	1,9304
							983.481.873		45,8016	47,5070

Dr. ec. Tudor Ciurezu Ec. Elena Sichigea

Net asset 2.070.182.037 lei

Total asset 2.147.263.962 lei

Securities admitted or traded on an alternative market of Romania– AERO (BVB) - (shares)

No. Ite m	Issuer	Symbol	Date of last transactio n	No of shares held	Nominal value	Share value	Total value	Weight in the issuer`s social capital	Weight in the total asset of SIF	Weight in the net asset of SIF
1	ALIMENTARA SLATINA	ALRV	27/09/2018	214.742	2,4300	19,0000	4.080.098	52,2352	0,1900	0,1971
2	ARGUS CONSTANTA	UARG	28/09/2018	30.911.534	1,5000	2,0200	62.441.299	86,3922	2,9079	3,0162
3	CEREALCOM ALEXANDRIA	CCOM	06/08/2018	34.672.773	0,1000	0,0479	1.660.826	6,6944	0,0773	0,0802
4	CONSTRUCTII FEROVIARE CRAIOVA	CFED	05/09/2018	2.725.325	0,8500	0,1800	490.559	77,5001	0,0228	0,0237
5	CONTACTOARE BUZAU	CONQ	30/07/2018	406.643	2,5000	10,1186	4.114.639	14,1964	0,1916	0,1988
6	FLAROS BUCURESTI	FLAO	17/09/2018	1.232.894	2,5000	48,4000	59.672.070	81,0386	2,7790	2,8825
7	IAMU BLAJ	IAMU	17/09/2018	1.884.289	2,5000	4,2000	7.914.014	19,8343	0,3686	0,3823
8	LACTATE NATURA TARGOVISTE	INBO	28/09/2018	997.302	2,5000	2,0400	2.034.496	40,3798	0,0947	0,0983
9	MERCUR CRAIOVA	MRDO	27/09/2018	7.104.836	2,5000	15,5000	110.124.958	97,8593	5,1286	5,3196
10	RELEE MEDIAS	RELE	02/05/2018	62.080	2,5000	12,9482	803.824	11,4644	0,0374	0,0388
11	SINTEROM CLUJ	SIRM	26/06/2018	1.543.318	2,5000	9,8937	15.269.071	31,8749	0,7111	0,7376
12	TUSNAD BAILE TUSNAD	TSND	25/09/2018	25.861.924	0,1000	0,0400	1.034.477	8,5691	0,0482	0,0500
13	UNIVERS RM.VALCEA	UNVR	12/09/2018	587.519	2,5000	25,0000	14.687.975	73,7494	0,6840	0,7095
							284.328.306		13,2414	13,7345

Dr. ec. Tudor Ciurezu Ec. Elena Sichigea

Net asset 2.070.182.037 lei Total asset 2.147.263.962 lei

Instruments mentioned in art.187 lit.a) of RNSC Regulations no.15/2004

Shares issued by commercial companies of closed type

No. Item	Issuer	No of shares held	Acquisitio n date	Acquisition price	Share value	Total value	Weight in the issuer`s social capital	Weight in the total asset of SIF	Weight in the net asset of SIF
	BANCA COMERCIALA
1	ROMANA BUCURESTI	1.023.534.303 01/11/1996		0,0520	0,6379	652.918.000	6,2973	30,4070	31,5392
	BIROUL DE INVESTITII
2	REGIONAL OLTENIA IFN		272.411 01/11/1996	15,4550	10,1295	2.759.395	19,4540	0,1285	0,1333
3	BT ASSET MANAGEMENT S.A.I. CLUJ		716.559 28/02/2006	0,8953	5,4950	3.937.521	9,9998	0,1834	0,1902
	COMPLEX HOTELIER
4	DAMBOVITA		1.753.217 31/01/1998	2,7577	3,7638	6.598.714	99,9427	0,3073	0,3188
5	COREALIS CRAIOVA		655.757 30/06/2000	2,5000	2,9471	1.932.607	11,9210	0,0900	0,0934
6	CORINT TARGOVISTE		178.297 01/11/1996	0,1929	0,0000	0	5,7978	0,0000	0,0000
	DEPOZITARUL CENTRAL
7	BUCURESTI		9.878.329 31/07/1998	0,0770	0,1222	1.206.695	3,9057	0,0562	0,0583
8	ELBA TIMISOARA		39.628 01/11/1996	2,5000	125,4108	4.969.779	2,3694	0,2314	0,2401
9	ELECTRO TOTAL BOTOSANI		57.909 28/02/2003	2,5000	0,0000	0	29,8562	0,0000	0,0000
	EXIMBANK BANCA DE EXPORT IMPORT A
10	ROMANIEI BUC		4.364.430 01/11/1996	5,4039	7,7780	33.946.374	3,2702	1,5809	1,6398
11	GEMINA TOUR RM.VILCEA		757.888 01/11/1996	2,5000	5,8436	4.428.807	88,2866	0,2063	0,2139
12	OTELINOX TARGOVISTE		1.809.195 01/11/1996	2,8091	6,2272	11.266.139	5,4694	0,5247	0,5442
13	PROVITAS BUCURESTI		35.139 01/11/1996	2,0114	170,1900	5.980.306	70,2780	0,2785	0,2889
14	SAGRICOM ULMI		57.941 01/11/1996	0,0025	0,0000	0	4,2057	0,0000	0,0000
15	SANEVIT ARAD		792.662 31/12/1995	0,1000	0,0000	0	13,2841	0,0000	0,0000

Net asset 2.070.182.037 lei Total asset 2.147.263.962 lei

Instruments mentioned in art.187 lit.a) of RNSC Regulations no.15/2004

Shares issued by commercial companies of closed type

No. Item	Issuer	No of shares held	Acquisitio n date	Acquisition price	Share value	Total value	Weight in the issuer`s social capital	Weight in the total asset of SIF	Weight in the net asset of SIF
16	TURISM LOTUS FELIX	347.859.802 18/12/2009		0,1006	0,0984	34.239.739	27,4554	1,5946	1,6539
17	TURISM PUCIOASA		1.010.599 01/11/1996	2,1170	4,9705	5.023.231	69,2191	0,2339	0,2426
18	VOLTALIM CRAIOVA		5.997.519 31/10/1999	2,3836	7,0055	42.015.472	99,1942	1,9567	2,0296
						811.222.779		37,7794	39,1861

Dr. ec. Tudor Ciurezu Ec. Elena Sichigea

Total asset 2.147.263.962 lei

Net asset 2.070.182.037 lei

Securities of AOPC/OPCVM

No. Item	Issuer	Symbol	Quantity	Quotation	Market value	Weight in the number of operating securities	Weight in the total asset of SIF	Weight in the net asset of SIF
1	BT INDEX RO		146.000,000	13,3680	1.951.728	2,7869	0,0909	0,0943
2	FDI NAPOCA		381.222,000	0,5451	207.804	1,5809	0,0097	0,0100
3	FDI TRANSILVANIA		7.444,000	49,7958	370.680	1,2457	0,0173	0,0179
4	FDI TEHNOGLOBINVEST		382,990	1.215,5768	465.554	5,5327	0,0217	0,0225
					2.995.766		0,1395	0,1447

Dr. ec. Tudor Ciurezu Ec. Elena Sichigea

Net asset 2.070.182.037 lei

Total asset 2.147.263.962 lei

Bank deposits in lei made in credit institutions of Romania

No. Item	Name of the bank	Constitution date	Due time	Initial value	Daily interest	Cumulated interest	Updated value	Weight in the total asset of SIF	Weight in the net asset of SIF
1	BANCA TRANSILVANIA	26/09/2018	22/10/2018	10.000.000,00	750,0000	3.750,00	10.003.750,00	0,4659	0,4832
2	BANCA TRANSILVANIA	26/09/2018	22/10/2018	2.000.000,00	150,0000	750,00	2.000.750,00	0,0932	0,0966
3	BANCA TRANSILVANIA	26/09/2018	22/10/2018	1.000.000,00	75,0000	375,00	1.000.375,00	0,0466	0,0483
4	BANCA TRANSILVANIA	28/09/2018	01/10/2018	142.000,00	3,9444	11,83	142.011,83	0,0066	0,0069
5	BCR	30/09/2018	01/10/2018	442.027,43	1,4734	1,47	442.028,90	0,0206	0,0214
6	RAIFFEISEN BANK	19/09/2018	19/10/2018	20.000.000,00	1.388,8889	16.666,67	20.016.666,67	0,9322	0,9669
7	RAIFFEISEN BANK	19/09/2018	19/10/2018	2.000.000,00	138,8889	1.666,67	2.001.666,67	0,0932	0,0967
8	RAIFFEISEN BANK	19/09/2018	19/10/2018	2.000.000,00	138,8889	1.666,67	2.001.666,67	0,0932	0,0967
9	RAIFFEISEN BANK	19/09/2018	19/10/2018	1.000.000,00	69,4444	833,33	1.000.833,33	0,0466	0,0483
10	RAIFFEISEN BANK	31/07/2018	18/10/2018	6.000.000,00	483,3333	29.966,66	6.029.966,66	0,2808	0,2913
11	RAIFFEISEN BANK	31/07/2018	18/10/2018	3.000.000,00	241,6667	14.983,34	3.014.983,34	0,1404	0,1456
				47.584.027,43		70.671,64	47.654.699,07	2,2193	2,3020

GENERAL MANAGER ECONOMIC MANAGER Dr. ec. Tudor Ciurezu Ec. Elena Sichigea

Net asset 2.070.182.037 lei Total asset 2.147.263.962 lei

Bank deposits in foreign currency made in credit institutions of Romania

No. Item	Name of the bank	Constitution date	Due time	Initial value	Daily interest	Cumulated interest	Updated value	Weight in the total asset of SIF	Weight in the net asset of SIF
1	BANCA TRANSILVANIA	27/07/2018	24/10/2018	321.680,00	6,7017	442,31	322.122,31	0,0150	0,0156
2	BANCA TRANSILVANIA	27/07/2018	24/10/2018	103.500,54	2,1563	142,32	103.642,86	0,0048	0,0050
				425.180,54		584,63	425.765,17	0,0198	0,0206

Dr. ec. Tudor Ciurezu Ec. Elena Sichigea