7^th Session of the Board of Directors of Montenegro Airlines held

Podgorica - At today’s session, the Board of Directors has adopted the Report on business operations for the first six months of 2013 as well as business plan for 2013.

At the session it was stated that in the first six months of this year the Company achieved better results compared to the same period in 2012. The Company’s loss has decreased compared with the loss in the same period last year.

Based on these results, the Board concluded that the Company is successfully heading towards accomplishing its plan to further reduce costs and increase the Company’s profit.

Also, the Board adopted the Rulebook on internal organization and job classification, in which the job description is based on commercial and development aspect of the Company, as well as the Rulebook on work procedures and rights of employees in the Company’s representative offices.

The Board of Directors was introduced with the fleet status on August 1^st, 2013, fleet overview until the end of 2016, as well as the necessary investments for renewal of resources.

The Board decided cut the costs related to sponsorships and donations to the minimum extent, having in mind the necessary restructuring of the Company and while the mentioned process is in progress the Company shall adhere to its decision to exclusively help the persons with medical condition who exercise their rights on health care with the Healthcare Fund. In case the circumstances change, the Board will support all creative ideas and individuals.