Shareholders' Unanimous Support to Proposals at Lek General Meeting

8. 1. 2001

Ljubljana, January 8 – Today the thirteenth General Meeting of Lek d.d. took place at the Slovenian pharmaceutical company Lek, Ljubljana. At the beginning of the meeting, 43.56% of the share capital was represented. The shareholders gave unanimous support to the two proposals put forward at the meeting, thereby allowing Lek to enter the international capital market.

At the meeting, Lek’s shareholders discussed the modifications of the Statute related to the introduction of global depositary recepits and to exercising shareholders’ rights. The proposed modifications were unanimously supported by shareholders.

The resolutions adopted at the General Meeting are one of the steps in Lek’s intention to enter the international capital market. Another important step in this regard was the continued relaxation of foreign investments limitations adopted by the Bank of Slovenia at the end of last year.

On the basis of these facts, Lek will be able to continue with its preparations for the programme of global depositary recepits and shall file an application for the listing with the London Stock Exchange and with the competent institutions in Slovenia (the Ministry of Finance and the Securities Market Agency).

Despite these positive developments, certain technical issues remain to be resolved with the Bank of Slovenia, regarding the conversion of Lek’s shares into GDRs.

The General Meeting ended with an announcement of the replacement of a member of the Supervisory Board. A new member – workers’ representative – was elected on July 21, 2000. Mr. Marjan Novak, M.Sc., was elected the workers’ representative in accordance with Article 28 of the Regulations on Workers’ Council Operations.