13/2011 The Supervisory Board positive opinion on the projects of the resolutions for the Ordinary Shareholder Meeting of CELTIC PROPERTY DEVELOPMENTS S.A. called on the 6th of June 2011

The Management Board of CELTIC PROPERTY DEVELOPMENTS S.A. (the Company) hereby announces that on the 13th of May 2011 the Supervisory Board gave the positive opinion on the projects of the resolutions for the Ordinary Shareholder Meeting called on the 6th of June 2011 at 12:00 in a registered office of the Company in Warsaw, Rondo ONZ 1 and had no comments.

All the documents regarding Ordinary Shareholders Meeting are available on the web page: www.celtic.pl .

Legal basis: § 38 sec. 1 point 3) of the Ordinance of the Minister of Finance of 19 February 2009 on current and periodic information provided by securities issuers and on conditions for considering information required under laws of a state not being a EU member to be equivalent and Principle 1, paragraph 3) part III. of Corporate governance contained in the document of “Good Practices of Companies Listed at GPW” (Resolution No. 17/1249/2010 of the Warsaw Stock Exchange Board of 19 May 2010).

Signatures of the persons entitled to representation:
1. Andrew Morrison Shepherd, President of the Board, 13.05.2011
2. Christopher Bruce, Member of the Board, 13.05.2011