The company NEOCHIMIKI - L.V. LAVRENTIADIS S.A. announces to the investing public that it has proceeded to the submission of a public offer in the Belgrade Stock Exchange for the acquisition of the remaining 16.2% of the share capital of the subsidiary company RAFINERIJA NAFTE BEOGRAD DOO (henceforth RNB),i.e. 265,135 shares.

The company proceeded to the submission of the public offer, executing a respective clause of the final agreement for the purchase of a 70% percentage of RNB's shares, that was signed between NEOCHIMIKI and the PRIVATIZATION AGENCY OF SERBIA as of July 4th 2007.

The purchase price, as provided by the purchase agreement stands at euro 26.48 or 2,127.11 dinars per share and the expiration date for the public offer is July 8th, 2008. The total cost of the public offer, as referenced in NEOCHIMIKI's Q1 2008 financial statements, is estimated to stand at approximately euro 7 mil.

RNB is active in the Serbian lubricants and chemicals markets since 1934 and the center of its development strategy is the constant improvement of its products. NEOCHIMIKI proceeded in 2007 to the acquisition of a 70% stake in the company and on February of 2008 its shareholding in RNB stood at 83.78%, after a respective share capital increase that was fully covered by NEOCHIMIKI.