The New Shares Series B and Shares Sold (jointly called Offered Shares) are offered in the framework of the Public Offer of J.W. Construction Holding S.A. shares (“Offer”). Unit nominal value of J.W. Construction Holding S.A. share is equal to 0.20PLN. The Offer will be accomplished exclusively in Poland. The Offered Shares will be offered to the Entitled Investors, Qualified Investors and Individual Investors.
The Issuer and Seller will make the decisions regarding the number of Offered Shares prior to commencement of subscriptions for the Offered Shares offered in the scope of Directed Tranche. The Company Management may decide to offer the number of the New Shares Series B different from that specified in the Resolution adopted by the Company Management on 22nd March 2007. In such case the Resolution will be adopted by the Company Management in order to change the Resolution adopted on 22nd March 2007. Simultaneously the Seller will make the decision regarding the number of Offered Shares offered in the scope of the Offer. The Issuer and the Seller have the right to transfer the Offered Shares between the Tranches before the date of allocation of the Offered Shares, with the reservation that only the Offered Shares not encompassed with correctly made and paid subscriptions can be transferred to other Tranches.

The Issuer and the Seller, at the latest on the first day of subscriptions for the Offered Shares offered in the scope of Directed Tranche, will publish the information about the final number of Offered Shares offered in the scope of the Offer indicating the number of Offered Shares offered in Directed Tranche, in accordance with the Article 54 subparagraph 3 of the Act on Public Offer and Public Companies.

The Issuer and the Seller, after completion of subscriptions for the Offered Shares offered in the scope of Directed Tranche, at the latest on the first day of subscriptions for the Offered Shares offered in the scope of Individual Investor Tranche, will publish the information about the final number of Offered Shares offered in the scope of the Offer indicating the number of Offered Shares offered in Individual Investor Tranche, in accordance with the Article 54 subparagraph 3 of the Act on Public Offer and Public Companies..

The information about the final number of Offered Shares offered in Qualified Investor Tranche will be published in accordance with the Article 54 subparagraph 3 of the Act on Public Offer and Public Companies, at the latest on the first day of subscriptions for the Offered Shares offered in Qualified Investor Tranche