14/2011 Purchase of shares by the insider

The Management Board of CELTIC PROPERTY DEVELOPMENTS S.A. hereby announces that it received on 19.05.2011, a notification from President of the Board Of Directors of the Company about the purchase, by member of the management board, on 31.01.2011 and 19.05.11, at the Stock Exchange in Warsaw, of a total of 1449 shares of Celtic Property Developments S.A. The average price of the acquired shares was 17.72 zlotys (PLN). The share purchase took place on the regulated market, in a normal trading session.

Legal grounds: Art. 160 sec. 4 Act on public offering – information on transactions of insiders

Signatures of the persons entitled to representation:
1. Elżbieta Donata Wiczkowska, Member of the Board, 19.05.2011
2. Christopher Bruce, Member of the Board, 19.05.2011