Institut IGH d.d. — M&A Activity 2011

Apr 11, 2011

IGH-R-A Regular Share, ISIN HRIGH0RA0006 Offered at the official market of the Zagreb Stock Exchange Notice placed in accordance with Article 459 of the Capital Market Act

Zagreb, 11 April 2011

10000 Zagreb 10000 Zagreb

HANFA ZAGREBAČKA BURZA

Miramarska 24b Ivana Lučića 2a Odjel uvrštenja

Subject: Transfer of business shares in RADELJEVIĆ d.o.o.

Pursuant to provisions of the Capital Market Act (Official Gazette Nos.: 88/08, 146/08, and 74/09) and according to the Zagreb Stock Exchange rules, we wish to advise you as follows:

On 8 April 2011, the INSTITUT IGH, d.d., with the head office in Zagreb, Janka Rakuše 1, Personal Identification No. (OIB) 79766124714, (hereinafter: INSTITUT IGH d.d.), in its capacity as a 100% owner of the company RADELJEVIĆ d.o.o., concluded with TRAMES d.o.o., limited liability company for management, design, space planning and technical supervision in civil engineering, headquartered at Mokošica, Gradićevo 1, registered with the Commercial Court in Split - permanent operation in Dubrovnik - under No. MBS 090002030, OIB 69691931390 (hereinafter: TRAMES d.o.o.)

the contract on the transfer of business shares by which INSTITUT IGH d.d. transferred to TRAMES d.o.o. 50,00 percent of the equity of RADELJEVIĆ d.o.o. company for trade and services headquartered in Zagreb, Janka Rakuše 1, registered with the Commercial Curt in Zagreb under No. MBS 080521827, OIB 15891547588 (hereinafter: RADELJEVIĆ d.o.o.), which equals to fifty percent of the total number of votes at the company's Assembly meeting.

The sales value of the transaction amounts to the HRK equivalent of € 9,992,000.00, as calculated according to the mean exchange rate applied by Croatian National Bank (HNB) on the day of the payment.

After the said transaction with TRAMES d.o.o., which ranks among the leading companies in the field of civil engineering in the area of Dubrovnik, INSTITUT IGH, d.d. will continue to invest in the "Radeljević" project in Gruž District in Dubrovnik.

INSTITUT IGH, d.d. Investor Relations Office