New subsidiary company

The Management Board of Stalexport S.A. informs that on 2.01.2006 it was notified about registering on 30.12.2005, by notary in Luxembourg, of the company "Stalexport Autoroute S.a.r.l." Societe a responsabilite limitee with seat in Luxembourg.

The equity of the company amounts to 15,000 EUR (say: fifteen thousand ) and it is divided into 600 shares with nominal value of 25 EUR each. One share gives right to one vote on the general shareholders meeting.
The equity of the a/m company was fully covered by cash and in 100 % subscribed by Stalexport S.A.

The company establishing is an element of the holding structure which is anticipated by the agreement in regard to grant the credit for financing the toll motorway project  Katowice-Kraków section (financial closing).