Current report no: 56/2010
Date: 07.12.2010

Signing of agreements with Alstom Power Systems GmbH for the performance of works in the GKM Mannheim 9 power station in Germany and the Eemshaven power station in Holland

With reference to Current Report No. 53/2010 published on 2 December 2010, the Management Board of Energomontaż-Południe S.A. (the Issuer, the Company) announces that on 7 December 2010 the Company concluded three agreements with Alstom Power Systems GmbH, which jointly meet the criterion of a significant agreement (10 per cent of the Issuer's equity). The total value of the agreements is approximately EUR 35.7 million, which is approximately PLN 143.1 million according to the average exchange rate of the National Bank of Poland on the date of publication of this report.

The agreement with the biggest value (which also independently meets the criterion of a significant agreement) concerns a project to be implemented in Germany. Its value is approximately 25.4 million euros. The agreement is for the assembly of the pressure element of a 911 MW boiler together with peripheral boiler pipelines in the GKM Mannheim 9 power station in Germany. The time period for carrying out the agreement is from the end of 2010 to the first quarter of 2012.
The agreement contains provisions on contractual penalties. The maximum amount of contractual penalties for delays in carrying out the agreement does not exceed 12 per cent of the value of the agreement, and for delays in sending documents it does not exceed 1.5 per cent of the value of the agreement. The agreement is governed by Swiss law. The Issuer's liability is limited to direct losses excluding contractual penalties, gross negligence and deliberate fault.

The remaining conditions of the agreement do not diverge from those generally applied in this type of agreement.

The other two agreements, each with a value of approximately 5.1 million euros, concern a project being implemented in Holland. The project involves the assembly of exhaust and air flues for units A+B in Eemshaven in Holland. Those agreements will be carried out in the period from the first quarter of 2011 to the first quarter of 2013.

The estimated value of the Issuer's order portfolio as at the day of publication of this report has not changed with respect to the information published in Current Report No. 53/2010, and is PLN 674.1 million.
Precise legal basis: Clause 5 par. 1 pt. 3 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities [...].

SIGNATURES OF THE PERSONS REPRESENTING THE COMPANY

Andrzej Hołda - President of the Management Board
Jacek Fydrych - Member of the Management Board

Legal grounds: Article 56 par. 1 pt. 2 of the Act on Public Offerings – current and periodic information

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