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Current report:

Signing of a loan contract between dependent companies of the Issuer

Report number: 39/2008 day: 2008-11-14

Legal basis Art. 56 par. 1 pt 2 of the Bidding Act (Current and Periodic Information)

Contents of the report:

The management of Barlinek S.A., based in Kielce ("the Issuer") hereby announces that Barlinek Cyprus Limited, based in Nicosia (Cyprus), (a dependent company of Barlinek S.A.) acting as the Lender and Barlinek Invest ltd. based in Vinnitsa (Ukraine) (a dependent company of Barlinek S.A.), acting as the Borrower, signed an agreement on November 12th 2008 for a loan of a maximum sum of 15,000,000 EUR (equivalent to 56,253,000 PLN according to the NBP average rate on November 13th 2008, i.e.1 EUR = 3.7502 PLN).

The loan was granted for the period up until December 31st 2015. The interest on the loan was established at a variable rate, based on the EURIBOR rate plus a profit margin. The loan will be used to finance the Borrower’s investment expenses and running costs.

The contract was signed with a suspension condition. The loan contract is valid from the day on which it is registered by the appropriate local body of the National Bank of Ukraine.

The credit contract contains no provisions regarding contractual penalties.

The contract is considered significant due to the fact that the value of the liabilities arising from it exceed 10% of the Issuer’s ownership capital.

Legal basis: § 5 par. 1 pt. Of the Finance Ministry Decree of October 19th 2005 regarding current and periodic information published by stock issuers (Journal of Laws no. 209, entry 1744 with subsequent amendments).