5/2012 Information of the Management Board regarding the press publication on the proposition of the gratuitous transfer of land to the Capital City of Warsaw

The Management Board of CELTIC PROPERTY DEVELOPMENTS S.A. (hereinafter “the Company”) informs that on April 18, 2012, on the basis of the press publication of Mr Michal Wojtczuk, entitled “Land for the streets is a bribe?”, published in the newspaper Gazeta Wyborcza on 18 April 2012, was informed of the possible investigation initiated by the regional public prosecutor in Warsaw on the proposition of Celtic Property Developments S.A. to gratuitously transfer to Capital City of Warsaw over 20 hectares of land for the construction of streets and schools.

The Management Board informs that as of today the Company did not received from the public prosecutor’s office any notification on this matter, and therefore it is not possible to provide further information. Upon receipt of the notification, the Company will publish subsequent current report.

The Management board has decided to publish this information in the current report mode in order to protect Company’s good reputation.

Podpisy osób uprawnionych do reprezentowania:
1. Andrew Shepherd, President of the Board, 19 April 2012
2. Elżbieta Donata Wiczkowska, Member of the Board, 19 April 2012