Changes in management of Societe Generale Group - Frederik Udea appointed Chief Executive

Frederik Udea has been appointed the Executive Manager of Societe General Group and his mandate will start on May 12. He will be assisted by Didje Aliks and Filip Sitern as deputy executive managers.

On the occasion of the change in the management of Societe Generale Group, Daniel Button, President of the Administrative Board, sent the letter on April 18 to all employees of this banking group:

”As a Chief Executive Officer of the Bank since 1993, and then as its President and Executive Manager since 1997, I have decided that the time has come for establishment of new organization in the management of our Group for the sake of its further strengthening. Therefore, I submitted recommendation to the Administrative Board to separate obligations of the Executive Manager and President of the Group. New organization will be put in effect at the next meeting of the Administrative Board, which is schedulled for May 12, 2008."

OTP banka Srbija a.d. Novi Sad

Frederik Udea

Didje Aliks

Filip Sitern

Daniel Buton