RB nr 19/2006

Legal basis: § 5 subpar. 1, pt. 1 and 3 of RO as well as § 7 and 9 of RO

The Management Board of MCI Management SA informs that on June 26, 2006 it received a set of signed agreements from June 20, 2006 between MCI Management SA and Deutsche Bank PBC SA and Deutsche Bank Polska SA in which Deutsche Bank PBC SA grants MCI Management SA a turnover renewable credit in the amount of PLN 9 million, secured by pledge by registration and financial pledge on structured bonds with the same value issued by Deutsche Bank AG in London. The pledges in no way prevent the possibility of making transactions on the bonds. The credit agreement does not include contractual penalties, has standard contractual security measures for the bank required by turnover credit.

Carrying out its strategy of management of free cash (approved by the Supervisory Board of the company) on April 12, 2006 MCI purchased 45 three-year bonds “3y PLN Equity/Commodity Strategy Certificate” issued by Deutsche Bank AG in London with the nominal value of PLN 200 thousand each. The total nominal value of purchased bonds is PLN 9 million. The structure of the bonds guarantees the return of at least invested capital and their value is based on the basket of indices of Asian and European stock exchanges (without Polish) and the prices of basic raw materials in the market.

The credit in Deutsche Bank PBC SA is an operating line and its primary role is to secure the liquidity of cash invested in the bonds. In the light of the amount of free cash possessed at the moment – about PLN 17 million (including the above bonds) – MCI is not planning to use the credit in the nearest future and therefore is not going to suffer the costs of interest connected with that. Furthermore, MCI estimates that it possesses about PLN 30 million as short-term investment capacity over the next 6 months.

The only associated person connecting the parties to the credit agreement is Mr. Hubert Janiszewski – at the moment of signing the agreement member of the Supervisory Board of MCI Management SA and member of the Supervisory Board of Deutsche Bank Polska SA and Vice Chairperson of the Supervisory Board of Deutsche Bank PBC SA. Deutsche Bank PBC SA and Deutsche Bank Polska SA are in no other way related with MCI Management S.A. or the supervisory and executive staff.

The value of the credit agreement and the investment in the bonds correspond to over 10% of equity capital of MCI Management SA and are considered as significant agreement and asset of significant value.