RB nr 19/2007

Legal basis: Art. 56 subpar. 1 pt. 1 of the Act on Public Offering.

The Management Board of MCI Management S.A. informs that by April 4, 2007 all payments connected with the sale of shares of Innovation Technology Group SA (ITG SA) made on the basis of the share sale agreements signed on March 16, 2007 (one dated April 4, 2007) credited the account of the fund.
Pursuant to its investment strategy MCI made on March 16, 2007 and April 4, 2007 a sale transaction of the shares of ITG SA, formerly operating under the business name of Computer Communication Systems SA. MCI Management SA sold 1,818,015 shares which had been purchased by several financial investors both institutional and individual. The sold shares in total correspond to 26.99% of the share capital of the company. MCI Management SA received PLN 8,108,346.90 for the sold shares, that is PLN 4.46 per each share. After the transaction of sale MCI holds 3,484,315 shares of ITG SA which corresponds to 51.73% of the share capital of the company.

The partial exit of MCI Management S.A. from ITG S.A. is the continuation of the pre-IPO process taking place in the company which this year shall be completed with its debut on the Warsaw Stock Exchange. After the successful issue of bonds convertible into shares, within which ITG SA received PLN 6 million in Q4 2006, and acquisition of innovative technology companies Microtech International Ltd. sp. o.o. and Softechnik sp. z o.o., it is additional proof of the right development of the company resulting from the implementation of the plan effectively implemented by the management of ITG SA. Next step in the pre-IPO process shall be the conversion of bonds into shares of ITG SA planned at the end of April, which shall result in finding new renowned investors by the company and at the same time a decrease of MCI Management SA exposure in the share capital of ITG SA, which has been in the portfolio of the fund since 1999, to 39.79%. The strategy of MCI Management SA assumes that the capital commitment in ITG SA which at the end of 2006 was 78.72% shall not exceed 20% by the end of 2007.

The stake of sold shares corresponds to over 20% of the share capital of ITG S.A. and is considered asset of significant value.