MR. MILJENKO FICOR
PRESIDENT
SECURITIES AND EXCHANGE COMMISSION
REPUBLIC OF CROATIA

Subject: The Falsification of the "Zagrebacka banka" Shareholder Register

Dear Mr. Ficor,

Thank you for your letter of 13.09.2005, which we received on 14.09.2005.

In this letter, you replied to us (regarding our letter on behalf of the GAVRILOVIC Company and Mr. Pask Kacinari) that your Commission simply was not competent in the case dealing with the falsification of the "Zagrebacka banka" Shareholder Register, for the reason that this forgery took place before your Commission was established.

Since the Croatian Central Bank has also declared itself incompetent, it is obvious that no one in this sovereign state has jurisdiction over "Zagrebacka banka" and its shares.

This means that the said bank is operating outside the jurisdiction of the institutions of the sovereign state on whose territory it is registered.

In this way, both you and the Croatian Central Bank have authorized and directed all parties to seek protection of their claims outside of Croatia.

In this way, you have also de facto authorized international bodies to directly intervene in the case of "Zagrebacka banka," as neither you nor the Central Bank are able to do so.

I therefore thank you for your cooperation and the information you have provided, and would like to inform you that our client, Mr. Pask Kacinari, shall take his case against "Zagrebacka banka" before foreign bodies, through the offices of his attorneys in Chicago, IL, USA, including:

1. All bodies having competence over the trading of the securities of Allianz A.G. Munich and Unicredito Italiano S.p.A. Milan, members of the Consortium that owns "Zagrebacka banka;"
2. International bodies overseeing the Republic of Croatia's credit worthiness.

Therefore, your letter was promptly forwarded to a U.S. law office, where it is being translated and subjected to legal analysis.

Our client, Mr. Pask Kacinari, has understood your letter to be a plea for help, which can obviously only come from abroad, since you are neither able nor competent to solve this problem by yourself.

However, your inability to solve the problem does not mean that it will disappear, only that it will be taken up in extra-national bodies.

As your letter was interpreted as an invitation to internationalize this case, which is what shall ensue, we cordially ask you that you forward the documents dealing with this case to the Offices of the President, Prime Minister and the Parliament of the Republic of Croatia, since all of them need to be informed of your inability to deal with this case and its subsequent internationalization.

We would also like to inform you, on behalf or our client, Mr. Kacinari, that he shall continue to inform international media regarding this case through his webpage, www.zabaraba.com.

We refer you to this webpage for all information pertaining to the falsification of the ZABA Share Register as well as any future updates incorporating knew facts about the criminal actions and criminal nature of ZABA.

We also caution you that this letter, along with the reaction of our U.S. legal representatives shall also be posted on this webpage, which shall also follow the internationalization of the case ensuing from your response.

In any case, we would once again like to thank you for your sincere admission that you, as the most competent institution regulating securities and their trading cannot and do not know how to take any action in connection with the falsification of the "Zagrebacka banka" Share Register, which amounts to an open invitation to the international community to intervene.

Zagreb, 14.09.2005.

Yours sincerely,

Pask Kacinari, through his attorneys
Ozren Tatarac, Esq.