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1Q 2008 PRELIMINARY RESULTS

1Q 2008 PRELIMINARY RESULTS

1Q 2008 PRELIMINARY RESULTS & 2007 AUDITED RESULTS

By the end of 2007 it was obvious that the Romanian insurance market is far from calming down. “Not only that for the time being “change” is still the main real constant in use, but figures show that the market environment becomes more challenging than ever these days”, I said at that time.

The following pages will show you this allegation it is now more likely to be true than ever.

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