Investor relations

Subject:
Entering into important agreement

Report content:
Acting on the base of § 5 clause 1 item 4 of the decree of the Minister of Finances dated October 19, 2005 on the current and periodic information to be submitted by securities issuers (Journal of Laws 2005 No. 209, item 1744) (Decree) J.W. Construction Holding S.A. with registered office in Ząbki (Company) informs about the fulfillment of the suspending condition included in 100 (one hundred) memorandums of sale agreement in written form (Agreements) concluded by the Company with Sawa Residential Fond Spółka z o.o. with registered office in Warsaw (Buyer), described in Company's Current Report No. 23/2007 dated July 6, 2007. The aforesaid Agreements provide that the Company is obliged to conclude agreements on building, establishment of separate ownership and sale of one hundred flats and one hundred parking stands in the buildings to be built within the Górczewska Park II development, Warsaw Górczewska street 181 (Flats) with a total value of 70,749,843.56 PLN. The binding contracts shall be concluded within 14 days from the final decision on the building permit. Pursuant to the Agreements and the Agreement conditions, the Company shall build, establish a separate ownership and sale the Flats to the Buyer. The Flats shall be presented to acceptance not later than on June 30, 2010 provided that the Buyer has paid the total price for the Flats. The suspending condition, which has been fulfilled, provides, that the Buyer shall pay 20 % of the value of the concluded Agreements to Company's escrow deposit trust account in accordance with the provisions of the Agreements.