With respect to some recent comments published in Serbian press, Fiat Group Automobiles S.p.A. Turin, Italy states that:

Joint Venture Investment Agreement between the Republic of Serbia and Fiat Group Automobiles S.p.A. contains confidentiality provisions requested by Fiat Group Automobiles S.p.A. with intention to protect joint investment of the Republic of Serbia and Fiat Group Automobiles S.p.A. in Kragujevac, Serbia, as certain schedules and exhibits represent commercial and industrial secrets crucial for success of the joint venture.

We consider that such provisions are for the benefit of both the joint venture company and its shareholders.

Fiat Group Automobiles S.p.A. approved disclosure of the main body of the agreement with only certain key figures representing commercial and industrial secret excluded, to comply with request of public to be informed on the most important industrial investment in Serbia in recent years.

Hereby, we wish to confirm importance of non-disclosure of confidential exhibits and schedules of the agreement for success of the joint investment.”