20/2009 - Exchange risk hedging transactions

The Management Board of Trakcja Polska S.A. (“Company”) hereby announces that, on 12 May 2009, Przedsiębiorstwo Robót Kolejowych i Inżynieryjnych S.A., with its registered office in Wrocław (“PRKiI S.A.”), the Company’s subsidiary, concluded a forward forex transaction with BRE Bank S.A. (“Bank”), at a total nominal amount of EUR 2,448,526.00, in order to hedge exchange risk.

The conclusion of the above forex transactions means that the total value of transactions concluded between PRKiI and the Bank over the past 12 months amounts to EUR 7,581,963.00, which exceeds 10% of the Company’s equity.

Of the contracts in question, the contract of the highest value is that concluded on 6 May 2009, at a value of EUR 1,992,613. The maturity date of this forward contract is 30 October 2009.

The transaction was conducted on market terms and conditions, which do not differ from the terms and conditions generally applied to this type of financial operation.

Legal grounds:Article 56(1) of the Act on the public offering and the conditions for introducing financial instruments into an organised trading system and on listed companies, as well as § 5(1)(3) of the regulation of the Minister of Finance of 19 February 2009 on current and regular information published by issuers of securities and the conditions for accepting information required by the provisions of the law of a state which is not a Member State, as being equivalent.