Sarajevo, Bosnia and Herzegovina, 7th March 2008 – Foreign Investment Promotion Agency of BiH held its annual award ceremony for "The Best Foreign Investment in 2007" last night in "Radon Plaza Hotel" in Sarajevo.  The best foreign investments are divided into the following categories: Greenfield investments, investments by privatisation process, joint venture investments and investments measured by the number of jobs that have been created.

Studen-AGRANA Sugar Refinery was chosen in the category of Greenfield investments. The new Studen-AGRANA sugar refinery in Brcko will produce more than 150.000 tones of sugar per year, which represents a considerable amount for BiH and the surrounding states. This investment will create hundreds of new jobs and more importantly it will benefit BiH's and the region's economy.
 
"I'm pleased to receive this award from the Foreign Investment Promotion Agency of BiH especially as Bosnia and Herzegovina was chosen the best place for the implementation of a project that has already had such a big impact on the strategic development of BiH's food industry and the economy in general. The overall investment in Studen – Agrana will be approx. 100 million BAM. In 2007, 130 jobs have been created. Due to our successful, long-term partnership with one of Europe's  leading sugar producers, AGRANA Group, we were able to implement this very important industrial project," said Mr. Ilija Studen, Chairman and CEO of Studen & CO Holding and Managing Director of Bimal d.d.

Studen-AGRANA Sugar Refinery has been one of the largest projects in the food industry in the   last few decades in Bosnia and Herzegovina. The construction of this new sugar refinery represents the turning point in the strategic development of BiH's food industry.   The project includes  the construction of  the sugar refinery in Brcko as well as a cooperation in sugar marketing. 

-Note to editors-
AGRANA Group, one of Europe's leading sugar producers, and SCO Holding contracted a strong partnership and successful cooperation more than 15 years ago for the distribution of sugar and other products on the markets of the Western Balkans and Central Europe.  For further information about the partners please visit: www.sco-group.com and www.agrana.com or contact:

Natasa Pucar, Corporate PR Manager, SCO Holding
Tel: + 387 49 233 311
Fax: + 387 49 220 585
E-mail: natasa.pucar@sco-group.com