At the initial phase of the process, at the end of June, the JASNÁ Nízke Tatry, a.s. company's shareholders decided on the increase in the stock capital to € 250 million and on renaming the company into the Tatry mountain resort, a.s. Consequently, in collaboration with the J&T Bank the stock exchange listing of the new shares was carried out at the Bratislava Stock exchange. The bank participated both in the transaction structuring and in preparing the issuer's prospect.

The shareholders include the J&T Bank as well as the companies closely related to the J&T company (up to 20% of shares altogether) and private persons related to the J&T proprietors and clients. No-one is in possession of the majority share of the funds. The basic strategic direction and fragmentation of shareholders, as well as the substance of the TMR assets itself secure company's stable development, thus accentuating the concentration and operation of the most important assets in the area of the High and Low Tatras. Apart from the already mentioned Jasná Nízke Tatry centre and the Grand Jasná, Tri studničky, Ski Záhradky and Srdiečko hotels, other centres to be acquired should be those in the High Tatras, operated by the Tatranské lanové dráhy, a.s., and such hotels as the Grandhotel Praha Tatranská Lomnica and the Grandhotel Starý Smokovec.

At present consultations with potential investors are being carried out, who should be given the opportunity to purchase the share of between 40 and 49%. These consultations will serve as the basis for deciding where to place the shares which are being held by temporary financial investors who undertook to offer the shares for sale. It is this sale by the financial investors which should secure the distribution of the shares in such a way that it would secure interesting market liquidity in the future which is the essential success criterion of every publicly held corporation.

"We initiated the origin of the TMR company as we are aware of the state tourism in the region, which has suffered from lack of investments, finds itself in. The companies themselves invested € 45 million in the infrastructure in recent years. Despite this, investments of the value of € 90 million are planned to be made in the infrastructure of the centres, as well as in developers' projects in the centres at Tatranská Lomnica and Jasná. These investments will contribute considerably to the increase in the number of visitors to the centres; they will enhance their profitability and return of financial means invested in them", Hlavatý stated.

"The company's stock sale is carried out to create a capital base for significant investments in mountain resorts, hotels, and real estate projects and in purchasing more land and immovable assests in the region. The goal is to fill in the gap in the market which shows through the non-existent "domestic" investment opportunities in the sphere of tourism," Hlavatý added.

As our goal is to prepare an interesting investment product for investors both at home and abroad at the local capital markets, the TMR shareholders and management began to cooperate on the project with a renowned investment bank of WOOD & Company", Bohuš Hlavatý added.

The Tatry mountain resort, a.s company was founded with the goal to build up a strong company, resistant to market swings, interesting from the point of view of investing, and an open company marketable at stock exchanges.

CONTACT:

Tatry mountain resorts, a.s.

Demänovská Dolina 72, 031 01 Liptovský Mikuláš 1,
phone +421 44 5591 505   fax +421 44 5591 511   info@jasna.sk
IČO: 315 606 36    IČ-DPH: SK 2020428036