Board of managers of Echo Investment S.A. informs that on 26th of March2007 Mr. Andrzej Majcher resigned his membership in Management and function of President of Managing Board.

Board of managers of Echo Investment S.A. informs that on 26th of March2007 Mr. Andrzej Majcher resigned his membership in Management and function of President of Managing Board.

Board of managers of Echo Investment S.A. also informs that on 27th of March 2007 council of Echo Investment S.A. Supervisory Bard gathered which passed the resolution on the question of appointing President of Managing Board and delegating a member of Supervisory Board to perform temporarily functions of the Management member.

As a result of adopted resolutions the company Supervisory Board entrusted Mr. Jarosław Grodzki, member of Management – who previously performer function of Vice-President of Managing Board – with the function of President of Managing Board, starting as of date 27th of March 2007.

Moreover Echo Investment S.A. Supervisory Bard delagated Mr. Mariusz Waniołka – performing function of Vice-President of Company’s Supervisory Bard – to perform temporarily function of Management member replacing retiring Mr. Andrzej Majcher, for a period not longer than three months from the date of passing the resolution by the Supervisory Board.

Board of managers of Echo Investment S.A. informs also that Mr. Andrzej Majcher is going to be the candidate for the member of the Company’s Supervisory Board during the next Extraordinary General Shareholders’ Meeting.