The Management Board of Echo Investment S.A. (the Issuer) hereby reports that on December 30, 2011 the Issuer received a notification from a member of the Supervisory Board informing the Issuer that Barcocapital Investment Limited with its registered office at Agiou Pavlou 15, Ledra House, Agios Andreas, 1105 Nicosia, the Republic of Cyprus, registered in the Department of the Registrar of Companies and Official Receiver in Cyprus (Companies Registry) under the number HE 145969, a subsidiary of Mr Michał Sołowow, purchased 186,952 shares of the Issuer.

The purchase of shares took place on the regulated market in the continuous trading system on December 22, 2011. The average purchase price was PLN 3.17 per share and its total volume amounted to 186,952 shares.

The informer requested their personal details be withheld, referring to the content of §3 (2) of the Decree by the Minister of Finance dated November 15, 2005 on passing and making accessible information on certain transactions in financial instruments and rules of making and conducting lists of persons having access to certain confidential information.

Legal basis: Article 160 (4) of the Act on Trade in Financial Instruments of July 29, 2005. (Journal of Laws no. 183 item 1538, as amended).