Decision of the arbitration court

Stalexport SA would like to inform that Arbitration Court in Warsaw adjudged from Agencja Rozwoju Regionalnego S.A. in Ostrowiec Świętokrzyski the amount of PLN 133.000 for the benefit of STALEXPORT SA, together with the statutory interests since 26.12.2002 and also the costs of the proceedings.
The matter regarded the payment for 24.504.361 ordinary inscribed shares of ?A-G? series, of Huta Ostrowiec in Ostrowiec Świętokrzyski, sold for the benefit of Agencja Rozwoju Regionalnego acc to sale agreement of 5.04.2002. The sale price was to be paid within 14 days from the date the agreement became void.