Cost of issuing H series shares

Current report 45/2007 dated 08.08.2007

With reference to Current Report No. 43/2007 of August 3, 2007, the Management Board of ATM S.A. would like to provide additional information according to the scope indicated in Section 33 subsection 1 item 12 and 13 of the Regulation of the Minister of Finance dated October 19, 2005 regarding current and periodical information provided by issuers of securities.

Total costs allocated to costs of issue — PLN 2,257,392, including:

a) costs of preparing and implementing the offer — PLN 1,933,732,
b) the Company hasn’t concluded a contract for sub-issue,
c) costs of preparing Prospectus — PLN 314,860, including consulting costs,
d) costs of promoting the offer — PLN 8,800.

The costs will be settled in accounting books according to accrual method, that is when source documents are received. The costs will be included in the financial statements of the Issuer as a reduction of reserve capital from the agio created by the surplus of shares’ issue value over their face value.

Average cost of subscription per one share offered — PLN 1.87.

The above-mentioned values were established according to the situation on the day of preparing this report, based on the information the Company received from the entities providing services connected with the Offer. In case the Company receives information which affects the final cost settlement for the Offer, relevant information concerning this issue will be published by the Company according to the same procedure.


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