Transfer of the concession for A4 motorway, section Katowice - Kraków

The Management Board of STALEXPORT SA informs that yesterday, i.e. 28.07.2004, the Concession for the first toll section of motorway was transferred from Stalexport S.A. to the company Stalexport Autostrada Małopolska S.A. (STALEXPORT SA subsidiary in 100 % )
The decision to transfer the rights and duties resulting from the Concession was taken by the Minister of Infrastructure, on the basis of art. 60a of the Act dated 27.10.1004 on toll motorways and Domestic Road Fund ( Krajowy Fundusz Drogowy).
The amendment to this Act, enabling the concession transfer, came into force on 1.01.2004 and on its basis Stalexport S.A. and SAM S.A. in January 2004 applied to the Minister of Infrastructure with a motion to transfer the concession.
The transfer of the Concession will facilitate obtaining a long-term credit to finance the project, it will allow for separation of the risk connected with the motorway project from the risk connected with the remaining activity of Stalexport S.A..
The Concession for 60,9 km toll motorway A4 Katowice ? Kraków, was granted the company Stalexport S.A. on 15.03.1997. The toll collection began on 3.04.2000.
The costs, in the amount of ca 193 m zlotys, of the investment which consisted in adapting the section of the motorway to the toll collection, so called 1st Stage, were borned by Stalexport S.A.