ARTICLES OF ASSOCIATION

ARTICLES OF ASSOCIATION

1. GENERAL PROVISIONS

1.1. Registration of Company and Bases for Passing of Articles of Association

1.1.1. The Company is registered with the Cantonal Court in Tuzla by the resolution number U/I- U/I - 554/02 of 04/29/2002.

1.1.2. Changes in the structure of the founders of the Company, founders' investments and shares in the Company were registered with the same Court by the resolution number U/I - 1713/02 of 01/06/2003, on the basis of:
(a) The Share Sale and Purchase Agreement concluded on 20th December, 2002 between the Founder and the New Founder (hereinafter: the Share Sale and Purchase Agreement) and
(b) the Contract about the change in the structure of founders of the Company, transfer of shares and stipulating of mutual relationships of contract parties, concluded on 20th December, 2002 between the Founder and the New Founder (hereinafter: the Contract About Transfer of Shares).

1.1.3. These Articles of Association harmonize the legal...