Reservoir Capital Corp.: Brodarevo Hydroelectric Project Update february 2012

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The Company passed an important milestone in its permitting process in February with the completion of a public hearing to review the planning applications for the Brodarevo dams and related infrastructure, known locally as the Spatial Plan for Special Purposes. The public hearing was the final step for State Commission of the Ministry of Spatial Planning, which has accepted all aspects of the Company’s application and sent it to the Government for final approval.

Work by Energoprojekt Hidroinzenjering Co. Ltd. (“Energoprojekt”) and the Company’s other contractors, continues to advance the Feasibility Studies for the Brodarevo Projects. During the month, Energoprojekt delivered the Final Design for the preparatory works, which include: the Lim River diversion, access roads, onsite roads and a temporary river crossing. This is the final stage of work on these elements of the project. Subject to government approvals, the river diversion will be the first stage of the Brodarevo Project to be put into construction.

Like many parts of Europe, Serbia has been suffering a very severe winter, with many areas completely cut off by the heavy snowfall. Reservoir has acquired a snowmobile to provide support in the local community and ferry emergency medical personnel around to isolated households.

Miljana Vidovic, President and CEO of Reservoir, commented: “We are happy to report continued timely progress at Brodarevo despite the difficult winter conditions and are very proud to have been able to provide life-saving emergency support to our local community.”