RB nr 30/2006

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

The Management Board of MCI Management SA informs that on August 29, 2006 the fund, carrying out its investment strategy, sold 172 222 shares of Travelplanet.pl SA based in Wrocław. The sold shares correspond in total to 8.03% of the share capital of Travelplanet.pl SA. MCI Management SA received PLN 5,597,215 for the sold shares that is PLN 32.50 per each share. After the sale transaction MCI Management SA holds 883 488 shares of Travelplanet.pl SA which corresponds to 41.17% of the share capital of the company. MCI realized on this transaction directly 1,650% rate of return on investment with the annual average IRR (taking into account all previous transactions) exceeding 96%. As a consequence of the sale the result MCI Management SA in Q3 2006 will increase by almost PLN 5 million.
Furthermore, Czechowicz Ventures Sp. z o.o. – main shareholder of MCI Management SA – also made sale transaction on Aug. 29, 2006 of 67 836 shares of Travelplanet.pl at the price of PLN 32.50 per share. The company took up shares in IPO of Travelplanet.pl SA in June 2005. After the sale of the shares Czechowicz Ventures does not hold any shares of Travelplanet.pl SA.

The sale of shares of Travelplanet.pl SA is the last stage of the medium-term strategy of MCI which assumed a decrease of the shareholding in the share capital of the company to the level of 40%. The fund offered about 10% discount compared to the average market price, however, the sold stake was bought by three significant financial investors who will exceed the 5% shareholding level in Travelplanet.pl SA. This way MCI Management SA realized the exit from investment planned for this year, holding at the same time stability and credibility of the company shareholding.

The stake of sold shares is not considered for MCI Management SA an asset of significant value.