At the 5th Annual General Meeting where 69.73% of the share capital was present the Mercator shareholders:

1. adopted a resolution on loss covering; namely, uncovered revalued loss of Poslovni sistem Mercator, d.d. from previous years as of 31.12.1998 amounting to SIT 17,038,362,937.84 will be covered to the debit of capital elements on the proposal of the Management Board and Supervisory Board;
2. adopted the Annual Report for year 1998;
3. adopted the proposed distribution of net profit for year 1998 amounting to SIT 1,346,629,987.13 which will be allocated to reserves in full;
4. empowered the Management Board to decide under approval of the Supervisory Board on exclusion of the preferential right up to a maximum of 291,496 new shares, and at the next Annual General Meeting of Shareholders they will report on eventual realisation of the authority;
5. as auditor for year 1999 was appointed the auditing company Pricewaterhouse Coopers, d.d., Ljubljana;
6. adopted a resolution on change of the amount of attendance fee for the Supervisory Board president and members, and namely the president of the Supervisory Board will receive SIT 100,000.00 net and the members of the Supervisory Board SIT 80,000.00 net.

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