Investor relations

Subject
Important credit agreement concluded with Bank Ochrony Środowiska S.A

Legal Basis
Article 56 paragraph 1 subparagraph 2 included in the Act on Offer – Current and Periodical Information

Report Content:
Acting on the basis of § 5 paragraph 1 subparagraph 3 included in the Decree of Finance Minister of 19th October 2005 regarding the Current and Periodical Information handed over by the Issuers of Securities (Journal of laws 2005, No 209 Item 1744 including further amendments) J.W. Construction Holding S.A. having head office in Ząbki (“Company”) and Sezam II Closed Investment Fund ("Seller") herewith inform that on 31st May 2007 the Company concluded a contract on medium term revolving credit in amount of 26.000.000PLN with Bank Ochrony Środowiska S.A. This credit will be used for the financing of investment credit repayment including the interest which has been granted for purchase of the land plot in Łukowska Street in Warsaw on the basis of credit contract of 14th December 2005 (which has been described in Chapter XXXVI Item 1.10 of the Emission Prospectus of the Company of 9th of May 2007 approved by the Financial Supervision Commission and expenses (including value added tax) associated with the implementation of developer project - erection of multi-family house in Warsaw – Łukowska Street. 31st July 2009 has been fixed as the final date of credit repayment. The credit interest has been established at WIBOR 1M + bank margin. The collateral for credit in the form of: contractual security mortgage up to amount of 36.166.000PLN on the real estate situated in Warsaw Łukowska Street (KW WA6M/00438988/7), transfer of receivables under the agreements concluded with the purchasers of the dwellings constructed in the frameworks of credited undertaking; own blank bill of exchange including promissory not declaration and power of attorney authorizing to exercise control over the bank accounts in Bank Ochrony Środowiska S.A. In connection with the contract, the Issuer submits itself to the pain of seizure. The credit release is conditioned among other by the submission of the project insurance policy and the assignment of policy rights to the benefit of the bank and submission of mortgage entry request. The value of the contract object exceeding 10% of equity capital of the Company is used as the criterion of credit contract importance.