Stalexport Wielkopolska - Court Decision

Referring to the report no 35/2004 dated 24.05.2004 concerning an announcement of bankruptcy of the company Stalexport Wielkopolska Sp. z o.o. by District Court in Poznan and to the report no 37/2004 dated 1.06.2004 ? in which we informed about our appeal against the Court Decision ? the Management Board of STALEXPORT S.A. informs that today, i.e. on 15.11.2004 it received a notice that on 10.11.2004 the company Stalexport Wielkopolska Sp. z o.o. got the decision of the District Court in Poznan of 4.11.2004 about the dismissal of the Company?s complaint against the Decision of District Court in Poznan dated 19.05.2004, regarding the bankruptcy with liquidation option.
We inform that after the announcement of the bankruptcy of the Company Stalexport Wielkopolska Sp. z o.o. with liquidation option, STALEXPORT S.A. ? acting in crisis circumstances - incorporated in its trade offices (on the basis of the lease contracts of the hitherto existing assets of Stalexport Wielkopolska Sp. z o.o.) successive trade depots in Wielkopolska region, maintaining the same the market and gradually developing the sales in this region. At present STALEXPORT S.A. has been selling steel products from the depots in Gostyn, Gniezno, Krzyz Wielkopolski, Komorniki, Koszalin, Kostrzyz n/Odra and Zielona Góra.
In case the trustee in bankruptcy decides to notice the lease contracts or to sell the real estates to other companies, STALEXPORT S.A. intends to get other objects to conduct the trade activity in this region.