THE SALE OF THE "YUGOEXPORT" BUILDING IN BELGRADE ON SEPTEMBER 23, 2008- STARTING PRICE 162,6 MILL DINARS

Privatization Agency, Republic of Serbia, Belgrade announced today (July 23, 2008) that they scheduled the auction for the sale of the "Yugoexport" building in the center of Belgrade, for September 23, upon the starting price of 162,6 mill dinars. The building has 508 sqm and it is in the Majke Jevrosime Street.

Interesting buyers for participation in this auction has to pay the deposit in the amount of 65 mill dinars. "Yugoexport" has been in the bankruptcy since June 2001, bceause of their debts to the banks.

Several receivers of "Yugoexport" have been arrested because of their involvment in the affair so called "bankruptcy mafia", because they have rented out the business facilities of the company "Yugoexport" upon the prices much more lower than the market prices were at that time, and against them there has been on going judical proceeding in the Special Court in Belgrade.

The biggest part of the property of the company "Yugoexport" has been sold in the auction in November last year for 1,4 billion dinars. The most expensive was the building in the Knez Mihajlova Street, for which the initial price was 271,3 million dinars and it was sold for 1,27 billion dinars.