Date: 21/05/2007

Douglas R. Matthews of US Steel a New President of AmCham

General Manager of US Steel Serbia and AmCham First Vice-President Douglas R. Matthews has officially succeeded Eugenio Sidoli, Managing Director of DIN - "Fabrika Duvana" A.D. Nis, on a position of the President of AmCham Serbia. The mandate of Mr. Sidoli in Serbia has ended and he has been assigned to a new leading position in the Phillip Morris in Spain.

Mr. Douglas R. Matthews hasbeen leading US Steel in Serbiaand affiliated companies as of May 1, 2006, coming from a position of a generalmanager of blast furnace engineering and technology at US Steel Headquarters inPittsburgh.Prior to that position, Mr. Matthews held various managerial positions withinthe U.S. Steel and its affiliated companies. He holds a masters' degree inbusiness administration and he is electrical engineering graduate of the Pennsylvania State University.

Under the leadership of Mr.Matthews, American Chamber of Commerce and its members continue to willcontinue intensify its activities aimed at removing any barriers to theeconomic development in Serbia,seeking to improve the business climate and to create additional opportunitiesfor employment.

To achieve its goals theAmCham aims at strengthening its dialogue with the representatives of the localgovernment and with the international community while focusing its advocacyefforts to improve regulations and to support a faster economic progresstowards the EU integration. Furthermore, AmCham Serbia will continue to be a strongadvocate for the predictability in the regulatory framework and the efficientimplementation of any adopted legislations as a critical precondition for thehealthy progress of business.

The position of theFirst-Vice President of the Chamber will be undertaken by Mr. Dejan Cvetkovic, the Second Vice-President of theChamber and the General Manager of Microsoft Serbia.

American Chamber of Commerce represents more than 160 foreign and localcompanies, which have invested more than 5 billion dollars in total, employingmore than 55.000 people in Serbia.The mission of the American Chamber of Commerce is to promote the best Americanbusiness practices, values and responsible partnerships between the United States of America and Serbia, whichcontribute to economic development through trade and investments.