wHAT THE FORMER MANAGERS OF THE FUND ARE SAYING Each of them has a different opinion

• Varujan Vosganian: "Perhaps the timing of the listing of the Proprietatea Fund wasn't well chosen"

Varujan Vosganian, former Minister of the Economy and Finance, considers that the Proprietatea Fund had some positive effects by providing good liquidity and high number of transactions, but the shareholders are unhappy with the price of the shares of the Proprietatea Fund. He said: "Perhaps the moment of the listing was not good, the context wasn't favorable. Nevertheless, we must remember that the Fund is affected by the evolution of the national economy".

• Ionuţ Popescu: The beginning of a successful path for the Proprietatea Fund

Ionuţ Popescu, general manager of the Proprietatea Fund between 2009 and 2010, said: "If we look at the hundreds of millions of Euros that entered Romania we can say that the listing of the Proprietatea Fund was a success, but on the other hand, if we look at the price of the stock, the shareholders are unhappy. I think it is the beginning of a successful path for the Proprietatea Fund".

• Mircea Ursache: 2011, the total failure of the compensation policy

Mircea Ursache, former president of the Supervisory Board of the Proprietatea Fund between 2007 and 2010 said: \"2011 meant the total failure of the compensation policy of those whose assets were seized by the communist regime, by the fact that the Proprietatea Fund's role in the matter ended. Today, the purpose of the Fund, which was established by the lawmaker in 2006, has ended. It is sad and revolting that even as such a mechanism was created, there are still thousands of people left who are waiting to be compensated. At this time, the Proprietatea Fund is just an investment fund, just like the SIFs, who server anyone else except the ones who deserve it, making it a mere player. The government shouldn't have let go of its 30% stake, the Fund was a vehicle that could solve people's issues\".