Motorway company - financial closing

Legal basis - par 5 passage 1 point 3 of the Finance Minister Decree dated 19.10.2005
The Management Board of Stalexport S.A. , informs that on 28.12.2005 the subsidiary company ( in 100%) of Stalexport S.A. i.e.

STALEXPORT AUTOSTRADA MAŁOPOLSKA S.A., signed a significant agreement in regard to grant the credit.

Date of concluding the significant agreement: 28.12.2005.

Agreement parties:

• STALEXPORT AUTOSTRADA MAŁOPOLSKA S.A. Mysłowice

and

• WESTLB BANK POLSKA S.A. Warszawa
• WESTLB AG (London Branch)
• DEPFA BANK PLC, Dublin, Ireland
• KfW Frankfurt, Germany-
• BANK BPH SPÓŁKA AKCYJNA, Warszawa

Subject of the agreement:
Granting the credit in the amount up to 380 m zloty, for financing the A4 toll motorway project - section Katowice-Kraków (i.e. Construction Work of Phase II a and refinancing of Construction Work of Phase I)

Essential conditions of the agreement:
availability period of the credit: 2006-2009;
interest on credit - floating, based upon inter-bank reference rate WIBOR plus margin
crediting period - 15 years ( fifteen) including grace period (one year) and availability period

The criterion of recognising the agreement as the significant one is the value of the agreement subject which exceeds 10 % of the sale incomes of the Capital Group of the Company.