Serbian beer market has a significant future potential due to its strategic location in Europe. However the market is still at a transition stage as evidenced by a CAGR 1% contraction of the total consumption between 1996-2006, but higher share ofinternational operators in the market at above 70%. The marketis estimated to grow at a CAGR of 4% between 2006 and 2011.

EBI started its operations in Serbia in 2003 by acquiring the Pancevo Brewery in the outskirts of Belgrade, whose name waslater changed to "Efes Weifert". In 2004 EBI acquired a second brewery in Zajecar, with an annual capacity of 1.0 mhl, thereby increasing its total capacity in the market to 1.4 mhl per annum.

Efes Serbia produces and sells five different brands of beer, "Efes" which is positioned in the international premium segment, "Weifert" in the mainstream segment and "Pils Plus", "Standard" and "Zajecarsko" in the economy segment. In addition, Efes Serbia also sells "Miller Genuine Draft", positioned in the imported premium segment.

In 2006, EBI was the 4th largest brewer in Serbia, with a market,share of 13%. EBI sales volumein 2006 posted a decline of 10% compared to 2005. In order to effectively capitalize on the future potential of the Serbian beermarket, EBI currently focuses on the continuous development of branding and infrastructure of its operations in Serbia.