The state of involvement of Open Pension Funds (OFE) at the end of 2007 equalled 35,7% of the initial capital and votes at the general shareholders meeting of Echo Investment SA. The number of shares owned by OFE, as per 31st December 2007, is 149.801.210.

– The number of shares of Echo Investment SA remaining in OFE portfolio at the end of 2007 is by approximately 2% bigger, compared with identical period of the previous year, when OFE owned 142.557.390 of Echo shares – says Mrs. Agnieszka Dróżdż, Capital Market Manager in Echo Investment SA. – It’s worth to emphasize, that engagement of Funds in Echo shares got increased, despite considerable growth of number of competitive companies, which made their debut at the Warsaw Stock Exchange during last year.

Włodzimierz Giller, analyst of companies’ shares of Deutsche Bank Group:
– I am not surprised with high engagement of OFE in Echo company. This developer has many years experience on the market and is highly disposed towards commercial and office buildings, the commercialization of which brings presently highest profits. Considerable involvement of finanxcial institutions is also a proof that, despite the drop of shares' exchange rate, the long-term strategy of the company enjoys investors' trust.

Andrzej Kasperek, analyst of shares, UBS:
– Echo Investment SA is, undoubtedly, one of the most experienced developer’s companies of a solid position on the Polish real estate market, both in residential as well as commercial sector. Promising prospects of the company’s growth, based on reliable premises, found their confirmation in increased contribution of the company’s shares being present in portfolio of Polish pension funds, whose investments are generally of a long-term character.

Maciej Barański, analyst of shares, HSBC:
– Pension funds’ liabilities are generally of a long-term character, so investments should also have long time prospects. That’s why investing in real property is for them an attractive form of capital investment. Polish funds, due to statutory limitations, may not directly invest in real property, so they may only choose companies from this sector quoted at the Exchange. Engagement of pension funds in shares of Echo Investment has not only grown, as compared with the last year, but is now almost three times bigger, than the importance of the company in Warsaw Stock Exchange Index might indicate. Shares of Echo Investment may be an attractive form of investment due to their relatively low price accompanied by continuously good middle- and long-term prospects for the real estate market in Poland, diversification of the portfolio of accomplished and planned investments, and growing range of the company, also on foreign markets.

Structure of OFE engagement in shares of Echo Investment SA at the end of 2007*