KM to be Traded by Splitska Banka D.D. From July 1, 1999

Mostar-On Monday the 28th of June 1999, the Governor of the Central Bank of Bosnia & Herzegovina, Mr. Peter Nicholl, signed the first ever agreement with a Croatian bank to buy and sell KM in Croatia which will start on July 1st,,1999. The agreement took place at the CBBH's main unit in Mostar. The agreement with Splitska banka d.d. Split Croatia, originally was to be finalized on June 1, however logistical preparations and contract negotiations took longer than anticipated so the start date was pushed back one month. Governor Nicholl and Mr. Tomo Bolotin, the Chief Executive Officer of Splitska banka d.d. actually performed the first official exchange of KM for the benefit of the press gathered at the signing ceremonies. After the agreement was signed at the CBBH's main unit in Mostar, Mr. Nicholl presented Mr. Bolotin with a crisp new 100KM banknote, which was promptly changed into Croatian Kuna on the spot. The Governor of the CBBH is very grateful to the Splitska banka management staff for its hard work and perseverance in putting the scheme together. It demonstrated Mr. Nicholl said, "the obvious advantages for Splitska banka d.d. by trading KM as well as the benefits it gives the citizens of BiH". Just like in BiH, Splitska will honor the 1:1 exchange rate the KM has with the DEM, however Splitska will be allowed to charge the market rate commission for the transaction. KM will be accepted and exchanged at participating Splitska banka d.d. branches in the following denominations, ONLY! 10, 20, 50 & 100. Remember, NO COINS! Initially, the KM will be exchanged at 75 retail branches of Splitska banka d.d. from Dubrovnik to Zagreb. Splitska banka d.d. will charge the market rate commission not to exceed what it charges for other foreign currencies, and the DEM to HRK (Croatian KUNA) rate will apply to all KM transactions. "We are very happy to be the first Croatian bank to exchanging the KM, and we firmly believe this decision will promote business and tourism along the Dalmation coast," said Mr. Bolotin. Of course the addition of Splitska banka d.d. as an active promoter of the KM currency is a big moral booster, but the practical implications are much more important. The average citizen can now just jump in his car, a bus or walk across the border and change his KM at his destination. Money means very little if it doesn't offer you FREEDOM and MOBILITY. With Splitska banka d.d. now trading KM and soon other banks in Croatia will follow, more and more people in BiH will experience the "freedom and mobility" that a truly Strong and Secure currency, like the KM can give.