RB nr 39/2006

Legal basis: Art. 56, subpar. 1, pt. 2 and Art. 69 subpar. 2 pt. 1 of the Act on Public Offering

The Management Board of MCI Management SA informs that the fund carrying out its investment strategy on Oct. 11, 2006 made two sale transactions of One-2-One S.A. shares and on Oct. 12, 2006 one sale transaction of One-2-One S.A. shares. MCI Fund sold in each of the three block transactions 80,000 shares to three major financial investors – in total 240,000 shares of One-2-One SA. The sold shares in total correspond to 3.81% of the share capital of the company. MCI Management SA received PLN 3,024,000.00 for the sold shares, that is PLN 12.60 per each share. After the sale transaction MCI Management SA holds 2,260,480 shares of One-2-One SA, which accounts for 35.88% of the share capital of the company.

The partial exit of MCI Management S.A. from One-2-One S.A. is the result of the implementation of the investment strategy of the fund towards the portfolio company presented in the current report no. 28/2006 from Aug. 14, 2006. The transactions are the result of the agreements concluded with three financial institutions mentioned in the current report no. 29/2006 from Aug. 23, 2006. According to the published strategy MCI fund assumed that within 12 months from the debut of One-2-One S.A. at the Warsaw Stock Exchange it may sell to financial investors almost 6% of One-2-One shares held by the fund to maintain the shareholding in the company above 33%.

MCI realized on this transaction directly 5.873% of the rate of return on investment with the annual average IRR on the transaction exceeding 201%. This is a record result realized on an investment so far in the history of the Fund. MCI Management S.A. shall generate PLN 2,972,506 profit on this transaction; the realized profit on the sale of one tenth of the stake held in the company is six times the total investments of the Fund in One-2-One in the years 2002-2003.

The block of sold shares is not considered assets of significant value for MCI Management SA.