Contracts with Polish Steel Mills (PHS)

In reference to the report No.85 of 21st November 2003 ? the supplies of iron ores for the Polish Steel Mills ? the Company informs that for the year 2004 additional contracts for the supply of iron ores from the Ukraine were signed for the Mills associated in the PHS Concern of a value of about 45 m PLN. The total value of contracts for the supplies of iron ores in the year 2004 to PHS SA amounts to 105 m PLN.