RB nr 20/2008

Legal basis: § 5 subpar. 1 pt. 3 of RO and § 9 of RO

The Management Board of MCI Management S.A. informs that from February 29, 2008 to March 18, 2008 an exit from Technopolis investment took place by selling of the portfolio companies’ assets. On February 29, 2008 Technopolis sp. z o.o., in which MCI Management SA has 100% shares, sold all shares held in JTT Computer SA in bankruptcy that is 426,866 shares of the nominal value of PLN 2 per each share for the total amount of PLN 128,059.80. On the same day Technopolis Sp. z o.o. signed a preliminary agreement to the final agreement of sale of receivables referred to below. Transfer by the buyer of the whole amount into a specified escrow account by March 14, 2008 was the condition of conclusion of the final agreement.

On March 18, 2008 Technopolis sp. z o.o. spĂłłka komandytowo-akcyjna (whose general partner is Technopolis Sp. z o.o. and where MCI.PrivateVentures – a closed-end investment fund – owns 100% of its shares through MCI.EuroVentures 1.0 subfund) sold its receivables in JTT Computer SA in bankruptcy for the total amount of PLN 17,419,905.70. The assets were bought by currently the biggest shareholder JTT Computer SA – an entity which is not connected with MCI Management SA or any other company dependent on MCI Management SA. After the transactions neither MCI Management SA nor Technopolis sp. z o.o. or Technopolis sp. z o.o. SKA have any assets of JTT Computer SA in bankruptcy or os any other companies from the JTT capital group.

The value of both transactions – PLN 17,547,965.50 – described in this report was paid in full. As a result of the exit from Technopolis, the project managed within MCI.EuroVentures 1.0 subfund, an almost 3.5-fold return on invested capital was achieved with IRR at 187%.

The agreement for sale of receivables was considered a significant agreement as the value of the agreement exceeds 10% of equity of MCI Management SA.