• Dacia management and Dacia’s trade union, Syndicat Autoturisme Dacia (SAD),
signed an agreement on an annual pay increase on April 11, 2008. Work resumed at the plant on the same day at noon (GMT 1).

• Under the agreement, qualified production workers will receive a gross monthly
salary increase of 300 lei (83 euros) from January 1, 2008, followed by a gross
monthly increase of 60 lei (16 euros) from September 1, 2008. Technicians,
supervisory staff and managers get a 15% raise. All employees will receive a profitsharing bonus based on 2007 results. The bonus will be equal to one month’s gross salary, with a gross minimum of 900 lei (249 euros).

• The agreement concludes the negotiations started on January 28, according to a protocol established under Romanian law.

Dacia management and the trade union have thus reached a reasonable compromise. The pay increases are significantly higher than the national average and the average in the Romanian manufacturing sector. In 2008, the average gross yearly salary of Dacia production workers will be 43% higher than the Romanian average (forecast). The salaries will also keep the Pitesti plant competitive on producing Dacia vehicles and parts for the worldwide Logan program.

Today’s agreement between Dacia and SAD concludes a negotiation period that started on January 28, 2008, during which the management and the trade union met three times a week.