BDO International announces appointment of new Member Firm in Croatia Press Release - Brussels, 20 January 2008

BDO International is pleased to announce the appointment of a new BDO Member Firm in Croatia, effective 1 January 2008. The new firm will carry the name BDO Revizija Zagreb d.o.o

The firm was founded in 1993 when the first audit law was passed in Croatia and under current legislation it is licensed to perform auditing, due diligence, capital value evaluations, tax and financial consulting and bookkeeping services. In 2006, the firm’s income was €1.7 million, which represented a 37% growth rate on 2005, while the business plan predicts to triple the fee income to over €5 million in 2011. Based in Zagreb, with offices in Gospić and Selce, there are currently 25 staff, including 10 certified auditors. Of their ~170 clients, which include banks, insurance companies and public sector entities, approximately 15% are international.

Managing Partner, Ivan Štimac, is very positive about joining the BDO International network: ‘Our 3 year business plan is an ambitious one, and becoming part of a well known international network is an important step in the process. We are well positioned to take advantage of the positive economic climate in Eastern Europe and the BDO brand can only improve our prospects further’.

Frans Samyn, CEO of BDO International, agrees that BDO representation in the Balkan States is key, particularly given the candidacy for becoming EU Member States. ‘In recent years BDO Member Firms have been expressing the need for a professional services firm in Croatia and although to date these requirements have been covered by our Member Firms in neighbouring Slovenia and Serbia, BDO Revizija Zagreb now completes our service offering in the region. The firm has a very good local reputation and a clear vision of its future: we are glad to have them on board, providing the distinctively different BDO option for both their local and internationally-minded clients’.

Note to editors: BDO International is a world wide network of public accounting firms, called BDO Member Firms, serving international clients. Each BDO Member Firm is an independent legal entity in its own country. The combined total fee income of all BDO Member Firms was US$ 4.704 billion in 2007. The global network has 626 offices in 110 countries, and 31,500 partners and staff in the Member Firms provide business advisory services throughout the world.

For further information please contact:
BDO Revizija Zagreb d.o.o
Trg. J.F. Kennedy 6b, 10000 Zagreb, Croatia.
Tel: +385 1 2395 741; Fax: +385 1 2303 691
email revizija-zagreb@zg.tel.hr
BDO Global Coordination Office, Brussels, Belgium.
Tel: (+32 2) 778 0130; Fax: (+32 2) 778 0143
e-mail:bdoglobal@bdoglobal.com