"Mercator" entered market of Montenegro - Contract on strategic merger signed with "Mex market" from Podgorica

- Representatives of company "Mex" and representatives of company "Mercator" signed the Contract on strategic merger on November 30, 2007, and made company "Mercator" the owner of 51% of ownership share in company "Mex market" Podgorica - "Mercator" announced.

Company "Mex market" is the newly formed company to which company "Mex" transferred its activities in retail sector. There are two trade centers, in POdgorica and in Nikšić, within this company. Besides, the company has another eight retail facilities - in Podgorica, Nikšić, Bar and Ulcinj. The company will employ more than 270 workers. Annual turnover of the company in 2008 is planned to be 25m EUR, which makes company "MEX" one of the leading companies in Montenegro in that field.

The company will change its name on January 1st, 2008, into "Mercator-Mex" and it will be responsible for the entire Mercator's development on the market of Montenegro. Manager of company "Mercator-Mex" will be Ivan Karadžić, former manager of "Mex" and one of the owners of "Mex".