Date: 13/02/2008

Five New Members of the AmCham Serbia Board of Governors Elected

AmCham representatives mandated new members for AmCham Board of Governors

By the decision of a majority of AmCham members withvoting rights, Microsoft General Manager DejanCvetković was elected to theposition of President of AmCham, thus removing the title ‘Acting President'Mr. Cvetković has held since the departure of previous president DouglassMatthews. Skip Bornhuetter, GeneralManager of the DIN "Fabrika duvana" a.d. Nis - an affiliate of Philip MorrisInternational, was elected to theposition of First Vice President, while Richard Veitch, Vice President and General Manager of US SteelSerbia, was elected to the position ofSecond Vice President. In a close contest, Jean-Pierre Marcadier, General Manager of the Hyatt RegencyBelgrade and Milos Đurković, General Manager of IBM wereelected for the two remaining Untitled board seats. All candidates were electedfor two-year terms.

The newly elected candidates willjoin the current Board members, with mandate for a one more year, consisting ofthe three Untitled Governors AnthonyBarnett, Plant Manager of Ball Packaging Europe, Oliver Roegl, Chairman of the Raiffeisen Bank, Predrag Mihajlović, ChiefExecutive Officer of Komercijalna Banka,and Secretary-Treasurer Marko Mićanović, Managing Partner of Altis Capital. (AmCham 2008 Board of Governors)

Board ofGovernors represents the executive body of the American Chamber of Commerce,made up of nine governors with a mission to create the strategy and lead thedevelopment of the association.

The Board consists ofrepresentatives from some of the largest foreign direct investors in Serbia,is representative of the leading American business community, has a strongmanufacturing identity and is complemented by the strong presence of leadingrepresentatives of the service and banking industries. According tothe Statute, every year half of the Board is re-elected in order to preservethe continuance and sustainble functioning of the organization.

Leveragingthe accomplishments of six years of existence and a strong membership base,AmCham will continue intensify its activities aimed at removing any barriers tothe economic development in Serbia, seeking to improve the business climate andto create additional opportunities for employment.