Current report 11/2007

To supplement the report no. 10/2007, the Management Board present the following resolutions:

Resolution no. 1 by the Management Board of ATM S.A.concerning the company initial capital increase

1. As per Article 431 clause 1 and 2 subclause 1, and Article 432 par 1, with reference to Article 446 clause 1 of the Commercial Companies Code, taking into account the provisions of clause 6, and with reference to clause 6 subclause 3 of the Company Articles of Association, the Management Board decide to increase the initial capital of the Company by PLN 521,375.20 (five hundred twenty-one thousand three hundred seventy-five 20/100), i.e. from PLN 24,525,504 (twenty-four million five hundred twenty-five thousand five hundred four zlotys) to 25,046,879.20 (twenty-five million forty-six thousand eight hundred seventy-nine 20/100) through issuing 68,602 ordinary bearer G series shares with a nominal value of PLN 7.60 (seven 60/100) each.

2. The Management Board resolve that the ordinary bearer G series shares shall participate in the dividend as from January 1, 2006.

3. The G series shares shall be offered to be taken up as part of a private subscription to the following persons:

a) Leszek Wilk — 14,446 shares
b) Tomasz Paszta — 14,446 shares
c) Krzysztof Zyguła — 12,632 shares
d) Andrzej Słodczyk — 14,446 shares
e) Krzysztof Jendryka — 12,632 shares

at the issue price of PLN 119.61 (one hundred nineteen 61/100) each, for a total of PLN 8,205,485.22 (eight million two hundred five thousand four hundred eighty-five 22/100). The shares will be paid up with monetary contributions in full, i.e. the total amount of PLN 8,205,485.22 (eight million two hundred five thousand four hundred eighty-five 22/100).

By February 19, 2007, the Management Board of ATM will sign agreements with the aforesaid persons for taking up the shares.

4. The rights to the G series shares will not be admitted to the regulated market trading.

5. In the Company’s interest, with the consent of the Supervisory Board expressed in the Resolution dated February 16, 2007, the Management Board of the Company deprive the current shareholders of the Company in entirety of the G series share subscription right.

6. With respect to the capital increase referred to in clause 1 of this Resolution, the Management Board resolve to amend the Company Articles of Association so that clause 6 subclause 1 of the Statute reads as follows:

„1. The initial capital of the Company amounts to PLN 25,046,879.20 (twenty-five million forty-six thousand eight hundred seventy-nine 20/100) and is divided into:

1) 1,800,000 (one million eight hundred thousand) ordinary bearer A series shares from no. 000.001 to no. 1.800.000 with a nominal value of PLN 7.60 (seven 60/100) each;

2) 630,000 (six hundred thirty thousand) ordinary bearer B series shares from no. 1.800.001 to no. 2.430.000 with a nominal value of PLN 7.60 (seven 60/100) each;

3) 180,000 (one hundred eighty thousand) ordinary bearer C series shares from no. 2.430.001 to no. 2.610.000, with a nominal value of PLN 7.60 (seven 60/100) each;

4) 187,040 (one hundred eighty-seven thousand forty) ordinary bearer D series shares from no. 2.610.001 to no. 2.797.040, with a nominal value of PLN 7.60 (seven 60/100) each;

5) 130,000 (one hundred thirty thousand) ordinary bearer E series shares from no. 2.797.041 to no. 2.927.040, with a nominal value of PLN 7.60 (seven 60/100) each;

6) 300,000 (three hundred thousand) ordinary bearer F series shares from no. 2.927.041 to no. 3.227.040, with a nominal value of PLN 7.60 (seven 60/100) each;

7) 68,602 ordinary bearer G series shares with a nominal value of 7.60 (seven 60/100) each.”

Resolution no. 2 by the Management Board of ATM S.A. concerning the company initial capital increase

1. As per Article 431 clause 1 and 2 subclause 2 and Article 432 clause 1 and 2 with reference to Article 446 clause 1 of the Commercial Companies Code, taking into account the provisions of clause 6a with reference to clause 6 subclause 3 of the Company Articles of Association, the Management Board of ATM resolve to increase the Company initial capital by a maximum amount of PLN 9,153,120. 80 (nine million one hundred fifty-three thousand one hundred twenty, 80/100) i.e. from PLN 25,046,879.20 (twenty-five million forty-six thousand eight hundred seventy-nine 20/100) to a maximum amount of PLN 34,200,000 (thirty-four million two hundred thousand) by issuing no more than 1,204,358 ordinary bearer H series shares, with a nominal value of PLN 7.60 (seven 60/100) each.

2. The H series shares shall be offered in a public offering, to be taken up by the current shareholders of the Company as part of the subscription right.

3. The subscription right to the H series shares is vested in shareholders holding the Company shares on July 16, 2007. (Subscription Right Date).

4. The Management Board resolve that the ordinary bearer H series shares shall participate in the dividend as from January 1, 2006.

5. The Management Board shall determine in a separate resolution:

a) issue price of the H series shares, provided that the issue price is fixed before opening the subscription;

b) minimum and maximum numbers of the H series shares being issued, provided that the minimum and maximum numbers of the H series shares being issued are within the limits set forth in subclause 1 of this Resolution, and the final number of the H series shares offered, which shall be fixed before opening the subscription, and shall not exceed the maximum number of the H series shares being issued;

c) H series share subscription opening and closing dates;

d) amount of the initial capital increase, as per Article 310 clause 4, with reference to Article 446 clause 1 and Article 453 of the Commercial Companies Code, and the wording of clause 6 subclause 1 of the Company Articles of Association taking into consideration the aforementioned initial capital amount.

signatures:
Roman Szwed — President of the Management Board,
Tadeusz Czichon — Vice-President of the Management Board