Fulfilling the conditions of the Investment Agreement

Referring to the report no 47 dated 1.06.2007 in regard to signing on 31.05.2007 an Investment Agreement between Stalexport Autostrady S.A., Stalexport S.A. and ZLOMREX S.A., the Management Board of the Company informs that on 01.10.2007:

• ZLOMREX S.A. informed about receiving the consent of the President of Anti-Monopoly Office to make the concentration, the same the condition ?i? of the Investment Agreement was fulfilled.
• The following agreements were signed:
  • the agreement with the Expert, i.e. between Stalexport Autostrady S.A., STALEXPORT S.A., ZLOMREX S.A. and the company Ernst & Young, the same the condition ?c? of the Investment Agreement was fulfilled. The Agreement with the Expert defines the manner and the rules of verification of the selling price for the disposal of the Organised Division of Enterprise (ZCP).
  • the Escrow Account Agreement ( the bank account of escrow type) the same the condition ?k? of the Investment Agreement was fulfilled. The company STALEXPORT S.A. will be the owner of the Escrow Account. ZLOMREX S.A. will transfer 100 m zloty to this account by virtue of subscribing the shares in the increased capital of STALEXPORT S.A.
• The declarations and warranties of Stalexport Autostrady S.A. along with enclosures were enclosed to the Investment Agreement, the same the condition ?b? of the Investment Agreement was fulfilled.
• An Annex to the Investment Agreement (dated 31.05.2007) was signed, in this Annex the parties of the Investment Agreement (Stalexport Autostrady S.A., STALEXPORT S.A. and ZLOMREX S.A.), lifted the following conditions precedent: of the transaction:
  • signing the Agreement with the Supplementary Expert,
  • payment by ZLOMREX S.A. the price equal to the reference price on the escrow account before 01.10.2007.