Report No 17

In connection with report no. 8/2011 from June 9^th, 2011 regarding conclusion of an agreement concerning the A4 project (Consent & Waiver Letter), The management Board of Stalexport Autostrady SA informs that on December 2^nd, 2011 received information on fulfillment of  condition subsequent for obtaining the consent of the Financing Banks for increase in equity capital of Stalexport Autostrada Małopolska SA (conditions under point 4 of the a/m Report no. 8/2011).

In particular:

1. On November 26^th, 2011 there has been established by Stalexport Autostrady pledge for the benefit of Financing Banks on 343 380 new shares of Stalexport Autoroute S.a r.l. with nominal value of 25 Euro each.
2. On November 28^th, 2011 the District Court for the City of Warsaw in Warsaw, Dept. XI Economic of Pledge Register conducted registration of the pledge established by Stalexport Autoroute S.a r.l. for the benefit of Financing Banks on 37 200 shares of the company Stalexport Autostrada Małopolska SA (ordinary D series registered shares with nominal value 1 000 Polish Zloty each)