Share of the shareholder drops below 5 %

The Management Board of Stalexport S.A. informs that on 11.07.2007 the Company received a notification from the shareholder Julius Baer Investment Management LLC with seat in new York (in connection with Company being commissioned to manage foreign securities portfolios), as a result of the registration of the increase in stock capital of the company STALEXPORT S.A. on 25.06.2007, the share of Julius Baer Investment Management LLC in the capital and the total number of votes at the general meeting of Stalexport S.A. was changed. Currently Julius Baer Investment Management LLC holds on behalf of its clients 10,321,882 shares in the company STALEXPORT S.A., which constitutes 4.,17 % of the stock capital and 4,17 % of votes at the GSM of Stalexport S.A. Before registering the increase in stock capital of Stalexport S.A., Julius Baer Investment Management LLC held 10,321,882 shares of Stalexport S.A. constituting 6.54 % of the stock capital, giving the right to exercise 6.54 % of votes.

Julius Baer International Equity Fund is one of the clients of Julius Baer Investment Management LLC, and it holds 10,000,000 shares of Stalexport S.A. out of 10,321,882 shares held by Julius Baer Investment Management LLC on behalf of its clients. The mentioned 10,000,000 shares constitute 4.04 % of the stock capital of Stalexport S.A. and it gives the right to exercise 4.04,% of votes at the GSM of Stalexport S.A. 

Before the increase in capital of Stalexport S.A. the company Julius Baer Investment Management LLC held on behalf of Julius Baer International Equity Fund 10,000,000 shares in Stalexport S.A. constituting 6.34 % of the stock capital of Stalexport S.A. giving right to exercise 6.34 % of votes at the GSM of Stalexport S.A. The share portfolios mentioned above are managed by Julius Baer Investment Management LLC on the basis of the investment advisory entered into between the company Julius Baer Investment Management LLC and its clients, for this reason Julius Baer Investment Management LLC may not be considered to be a shareholder of Stalexport S.A.