1. Nebojša Ciric Vizeminister für Wirtschaft und Regionalentwicklung Deputy Minister for Economy and Regional Development, Serbien/Serbia

2. Investment Climate in Serbia Ministry of Economy and Regional Development Nebojsa Ciric, Assistant Minister Velden, September 19 th 2007

5. Macroeconomic environment All-time record foreign currency reserves amounting to $12 billion Decreasing public debt standing at less than 30% of GDP Robust GDP growth averaging 7.2% over the past three years

10. Credits, deposits and borrowing by banks Total savings–around €3 billion or 150 times the amount in 2000

11. Human Capital Number of graduated students from universities in Serbia ( 1/3 from technical faculties) Excellent base of young, educated, skilled and committed workforce that easily finds employment within multinational companies in Serbia

12. Increasing Labor Productivity “ From business standpoint, we’ve been very impressed with the quality of workforce in U. S. Steel Serbia and its sister companies.” Mr. Michael Fedorenko, Former General Manager U. S. Steel Serbia

13. Favorable Tax Regime

14. Favorable Tax Regime Lowest Individual Income Tax Rates

16. Privatization process - summary Social Program Investment Sale Purchase Price Book Value Number of Employees Success Rate Total Number of co’s Sold Number of co’s for Sale 2002-2007 (000EUR) Total Capital Markets Tenders & Auctions Auctions Tenders

18. FDI Track Record (in million USD) Best SEE regional track record of Greenfield project realization, as per OECD data