Investor relations

Subject:
Making a significant agreement

Report Content:
Acting on the basis of § 5 sect. 1, point 3 of Minister of Finances resolution dated on October 19th 2005 concerning the valid and periodic information conveyed by issuers of securities (Dz. U. dated on 2005, No. 209, poz. 1774) (“Resolution”) J.W. Construction Holding S.A. with headquarters in Ząbki (“Company”) informs, that on July 5th 2007 it received information about making by Sawa Residental Fond Ltd. Co with headquarters in Warsaw ("Buyer") 100 preliminary agreements of sales, in written form, previously made by the Company (together “Agreements”). The subject of these Agreements is Company’s obligation to make agreements obligating to build, prepare separated properties’ rights and sell 100 accommodations and the same number of parking places in buildings being executed in scope of investment – “Górczewska Park II” in Warsaw at 181 Górczewskiej Street (together called “Accommodations”) of total value 70.749.843,56 PLN. Binding agreements will be made within 14 days from the day of final permission to build acquisition. According to Agreements and conditions included, the Company shall build, prepare separated properties' rights and sell to the Buyer Accommodations, and, there was decided that the deadline of acceptance is not later than June 30th 2010 provided that the Buyer pays the whole price for the Accommodations.

The agreements were included in “Program 20/80” described in Company’s prospectus of issue, while:

- funds making 20% of total price of Accommodation purchase in Agreements will be paid by the Buyer within 7 days from the Agreements making into Company’s deposit trust account type escrow when the following conditions are met: 50% of these funds will be paid for the benefit of Company within 3 days since the Company has notified the bank servicing the Registered Account about gained legally valid permission to build, presenting agreements obligating to purchase Accommodations – made with the Buyer – in form of Notary’s acts and meeting other conditions determined in the agreement of Registered Account, whereas remaining 50% funds, within 3 days from execution of “0” state of the investment determined in Agreements, notifying the bank servicing the registered account and proving adequate entrance into the building register; in case conditions of the funds releasing for the benefit of the Company Agreements are rejected;

- funds making the rest of 80% of total price for Accommodation purchase, included in the agreement, shall be transferred for the benefit of Company within 14 days from the day the Buyer is notified about the possibility of Accommodations acceptance, while this amount will be subject of monthly valorization according to index of GUS building-assembly production prices but no more than by 9% during the whole period of the investment execution included in Agreements.