Issuer's accession to an agreement with HDI Asekuracja Towarzystwo Ubezpieczeń S.A. on the provision of a guarantee contract

The Management Board of ENERGOMONTAŻ-POŁUDNIE S.A. with its registered office in Katowice (the Issuer, the Company) reports that on 27 October 2011 it signed an annex to the agreement on the provision of a guarantee contract of 30 December 2010 concluded previously between HDI Asekuracja Towarzystwo Ubezpieczeń S.A. with its registered office in in Warsaw (HDI) and five companies of the PBG capital group (i.e. PBG S.A., HYDROBUDOWA POLSKA S.A., HYDROBUDOWA 9 S.A., APRIVIA S.A. and "KWG" S.A.).

Under the annex the Issuer was included in the above contract for the period of its validity, i.e. until 14 November 2011. In connection with the conclusion of the annex and in accordance with the provisions of the contract, HDI will provide the six companies of the PBG capital group (i.e. the companies named above and ENERGOMONTAŻ-POŁUDNIE S.A.) (together referred to as the Policyholder) insurance guarantees, including:
a) warrantees against defects,
b) performance bonds,
c) retention bonds,
d) refundment bonds, and
e) performance bonds together with retention bonds guarantees in relation to one contract.

In accordance with the provisions of the contract, the amount of the revolving limit within which the above guarantees will be provided is set at PLN 80 million, while the maximum sum of compensation under a single guarantee is PLN 4 million.
The fee paid to HDI for the guarantees provided under the contract was set in line with market conditions.

The security for any claims by HDI arising from payments made under all the guarantees provided is thirty promissory notes in blanco with a promissory note declaration made by the Policyholders - five notes issued by each of the Policyholders, each of which is guaranteed by the remaining Policyholders.

The remaining conditions of the agreement do not differ from those generally applied in this type of contract. The criterion for recognition of the contract as being significant is the value of the Issuer's shareholders equity.

Detailed legal basis: Article 5 paragraph 1 point 3 of the Regulation of the Minister of Finance on Current and Periodic Information [...] of 19 February 2009.

Legal grounds: Article 56 paragraph 1 point 2 of the Act on Offerings – current and periodic information