Terms of Echo Investment’s D-series bond issue

The Management Board of Echo Investment S.A. ("the Issuer", "the Company") hereby reports an issue of another series of bonds as part of a public bond issue programme which is included in the base prospectus approved by the Financial Supervision Authority on the 24th of June 2014 and the Management Board hereby publishes information about the final terms and conditions of the offer and the issue of Echo Investment S.A."s D-series bonds. D-series bonds will be offered in a public offer. D-series will include up to 500,000 unsecured bearer bonds with a total nominal value of up to PLN 50,000,000. The nominal value of one bond is PLN 100. The issue price of one bond increases in the subscription period in the range from PLN 100.00 on the 20th of October 2014 i.e. the first day of subscriptions to PLN 100.33 on the last day of subscriptions i.e. on the 12th of November 2014. The interest rate on the bonds was determined on the basis of variable WIBOR 6M rate plus profit margin of 3.15%. Interest earnings will be disbursed in 6-month intervals. The bonds will be redeemed in 3.5 years" time. The Issuer publishes final terms and conditions of the D-series bond offer in the attachment to the report. Please also refer to current report no. 23/2014 of the 24th of June 2014. Legal basis: article 56 section 5 of the act on public offering and conditions governing the introduction of financial instruments to organised trading and public companies of the 29th of July 2005 (Journal of Laws of 2005 No. 184 item 1539).