ECHO INVESTMENT S.A. closed the 2nd quarter of 2007 with consolidated net profit of PLN 212 million and net income of more than PLN 190 million.

Net profit exceeded the profit earned in the 2nd quarter of 2006 by ca. 108%.
Incomes earned from lease of surfaces in the sector of shopping and shopping/entertainment centers were ca. 45%
as compared to the same period of the preceding year and the incomes in the offices sector grew by more than 150%.
 
The results earned were primarily affected by maintained boom on the market and revaluation of real estate
in the Capital Group’s portfolio, including revaluation of the Pasaż Grunwaldzki mall of Wrocław, which was opened
in the 2nd quarter. Another important factor affecting the result achieved was the income earned from developing
an office building complex in Kielce.