Investor Relations Online

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Investor Relations Online

• Survey of Web sites of the 43 Leading Croatian
  Companies
• Methodology

January 28, 2004
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Survey Methodology

• How did we conduct the survey?
• How did we select the companies?

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How did we conduct the survey?

• Review of company web sites
• Standardized questionnaire
• Same methodology used in 8 CEE countries

The survey database will be available online at
http//www.zsem.hr/projekti.html and
www.pfsprogram.org
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How did we conduct the survey?
We searched for information that potential
investors need

• Company history profile
• Share price
• News, contact information
• Financial performance

• Web site
• English language
• Management
• Ownership structure
• Supervisory Board

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How did we conduct the survey?

• We searched for information that potential
  investors need
• Greater Transparency Less Risk

Investors will pay more for a company with good
corporate governance
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How did we select the companies?

• Firms Surveyed
• All companies with shares or bonds listed in
  first quotation on ZSE or VSE
• Companies with highest trading volume, including
  public companies (j.d.d.s)
• Other large companies with a public profile
• Public utilities
• Large banks

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How did we select the companies?

• Companies surveyed represent
• 95 of turnover (shares on Zagreb Stock Exchange)
• 90 of turnover (shares on Zagreb Varadin
  Stock Exchanges)
• 100 of turnover (corporate bonds on Zagreb Stock
  Exchange)
• 87 of market capitalization (Zagreb Stock
  Exchange)

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How did we select the companies?
Companies Surveyed

• Adris Grupa
• Agrokor
• Anita
• Arenaturist
• Atlantic Grupa
• Atlantska Plovidba
• Belice
• Bina Istra
• Croatia Osiguranje
• Dalekovod
• Dom Holding
• Elka
• Ericsson Nikola Tesla
• Erste Steirmarkische Bank

• Franck
• HEP
• Hoteli Makarska
• Hrvatski Telekom (T-HT)
• HVB Splitska Banka
• Hypo Alpe-adria Bank
• Imperial
• INA
• Istraturist Umag
• Jadranski Naftovod
• Jadran-turist
• Jadroplov
• Kerametal
• Koncar-elektroindustrija
• Kra

Maraska Medika Plava Laguna PLIVA Podravka
Privredna Banka Proficio Raiffeisenbank
Austria Riviera Holding Sredinji Nacionalni
Holding Tehnika Varteks Zagrebacka
Banka Zagrebacka Pivovara
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How did we select the companies?
Industry Groups Finance 11
companies Tourism 7 companies Food
Beverages 6 companies

• Manufacturing
• Oil Gas, including Transport
• Pharmaceuticals
• Public Utility, including Motorway
• Shipping

• Textiles
• Telecommunications
• Trade
• Construction
• Paper

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ZSEMs Research Team

• Leslie Matthews ulenta, Planning and Analysis
• Mirna Korican, Team Leader
• Andrijana Musura, Co-Researcher
• Student Researchers
• Edda Apfenthaler
• Anto Augustinovic
• Ana Babic
• Maja Dobric
• Fran Doen
• Luka Himelreich
• Ivo Jukic
• Sead Keserovic
• Goran Krajina
• Boko Schneider

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Thank You.

• Mirna Korican
• Research Team Leader
• Corporate Governance and Corporate Social
  Responsibility