March 10, 2009
Based on the Offsetting or Reimbursement Act ? 900697/09.03.2009 Balkancar ZARYA Plc received a total refund of BGN 115 344.79, representing taxes and interests paid by virtue of the Tax Assessment Act N:405/24.06.2005.

Based on the Offsetting or Reimbursement Act N:900697/09.03.2009 Balkancar ZARYA Plc received a total refund of BGN 115 344.79, representing taxes and interests paid by virtue of the Tax Assessment Act ? 405/24.06.2005. The Tax Assessment Act was partially repealed regarding certain liabilities under the Value Added Tax Act by an effective decision ? 1605/05.02.2009 of the Supreme Administrative Court, thus the grounds for repaid company’s liabilities under that Act became invalid. The indicated amount included interests of BGN 38 716.06 paid by the Budget to the company for the period from the date of tax liabilities repayment under the irregular Tax Assessment Act till 09.03.2009.

Balkancar ZARYA Plc is in the procedure of reimbursement of about BGN 280 000, representing repaid tax liabilities as per CITA on the grounds of Tax Assessment Act ? 405/24.06.2005. In that part the Tax Assessment Act 405/24.06.2005 was proclaimed invalid by the District Court - Veliko Tarnovo with a Decision ? 29/20.03.2008 that entered into force in that part as unappealed before the Supreme Administrative Court.

Balkancar ZARYA Plc, (BSE-SOFIA: 4BU) is the single Bulgarian company specialized in steel wheels and rims manufacturing. The Company is recognized as a leading international manufacturer and supplier of a wide range of industrial wheels to the original manufacturers of fork-lift trucks and tyre producers as well as supplier of original wheel parts for the aftermarket. Balkancar ZARYA news and information are available at www.balkancarzarya.com

ZARYA, ZARJA, ????, Balkancar ZARYA, Moving forward and the Balkancar ZARYA logo are registered trademarks or trademarks of Balkancar ZARYA Plc. and/or its affiliates in the Republic of Bulgaria and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Balkancar ZARYA and any other company. This document is Balkancar ZARYA information to the public.  

For further information, please contact:
Mr. P. Penchev
Investor Relations
Balkancar ZARYA Plc
tel.: +359 610.52501 ext.110
[email protected]