Summary of Echo Investment’s issue of D-series bonds

The Management Board of Echo Investment S.A. ("the Company") hereby reports the results of the offer of D-series bonds ("the Bonds") which were issued as part of a public bond issue programme ("the Programme"), included in the base prospectus approved by the Financial Supervision Authority on the 24th of June 2014. Subscriptions concerning 500,000 Bonds offered were made from the 20th of October 2014 (inclusive) until the 21st of October 2014 (inclusive). The offer was not divided into blocks. The Bonds were allocated on the 22nd of October 2014.

420 Investors made subscriptions for 715,596 Bonds in the subscription period. The company allocated 500,000 Bonds to 420 Investors. In accordance with the provisions of the prospectus, the Company reduced the subscriptions made from the 20th of October 2014 (inclusive) until the 21st of October 2014 (inclusive). The average reduction rate was 30%. The Bonds were acquired at the issue price which ranged from PLN 100.00 to PLN 100.01 subject to the date of the subscription. The Company did not conclude any underwriting contracts in connection with the Bond offer. The value of the issue, understood as the product of the number of Bonds included in the offer and the issue price, amounted to PLN 50,000,677.42.
Due to lack of an ultimate calculation of bond issue costs on the day of publishing this report, the Company will prepare and publish a current report including the issue costs, also split by their titles, when all the invoices from companies involved in the preparation and implementation of the offer are received and accepted, however, no later than on the day required for the publication of this information in a current report. Company"s costs related to the offer of the Bonds are charged to the Company"s operating costs. Legal basis: §33 Section 1 of the Regulation of the Minister of Finance of the 19th of  February 2009 concerning current and periodical information published by issuers of securities and terms of recognizing as equivalent information required by laws of a non-Member State (Journal of Laws No. 33 item 259, as amended).