ASSECO POLAND SA

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF THE ASSECO GROUP

FOR THE 2 ND QUARTER OF 2007

PREPARED IN ACCORDANCE WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARDS

THE ASSECO GROUP Q2 2007 All figures in PLN thousands

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF THE ASSECO GROUP FOR THE 2 ND QUARTER OF 2007

Table of contents Page

FINANCIAL HIGHLIGHTS OF THE ASSECO GROUP...... 3 MERGER WITH ASSECO POLAND SA AND ISSUANCE OF SHARES...... 4 CONDENSED CONSOLIDATED PROFIT AND LOSS ACCOUNT...... 6 CONDENSED CONSOLIDATED BALANCE SHEET...... 7 CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY ...... 9 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS ...... 10 FINANCIAL PERFORMANCE OF THE ASSECO GROUP ...... 14 GENERAL INFORMATION...... 16 NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS...... 24 KEY FINANCIAL DATA FROM THE NON-CONSOLIDATED FINANCIAL STATEMENTS OF ASSECO POLAND SA ...... 66

These financial statements comprise 72 pages numbered consecutively from 1 to 72.

These condensed consolidated financial statements were approved by the Management Board of Asseco Poland SA on 7 August 2007.

Management Board:

Adam Góral President of the Management Board

Przemysław Borzestowski Member of the Management Board

Piotr Jeleński Member of the Management Board

Marek Panek Member of the Management Board

Zbigniew Pomianek Member of the Management Board

Adam Rusinek Member of the Management Board

Przemysław Sęczkowski Member of the Management Board

Robert Smułkowski Member of the Management Board

Person responsible for maintaining the accounting books:

Danuta Stec Chief Accountant

2 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF THE ASSECO GROUP FOR THE 2 ND QUARTER OF 2007

FINANCIAL HIGHLIGHTS OF THE ASSECO GROUP

PLN '000 EUR '000

6 months ended 6 months ended 6 months ended 6 months ended 30 June 2007 30 June 2006 30 June 2007 30 June 2006

I. Sales revenues 499,853 216,811 129,879 55,589 II. Operating profit 77,595 14,962 20,162 3,836 III. Pre-tax profit 81,508 17,610 21,179 4,515 IV. Profit (loss) for the period reported 64,915 15,819 16,867 4,056 - profit attributable to Shareholders 57,118 15,434 14,841 3,957 of the Parent Company V. Net cash provided by (used in) operating activities 88,251 ( 2,311) 22,931 (593) VI. Net cash provided by (used in) investing activities 8,190 ( 3,391) 2,128 (869) VII. Net cash provided by (used in) financing activities 45,113 ( 21,181) 11,722 (5,431) VIII. Cash and cash equivalents at the end of period 188,214 35,257 49,980 8,720 Basic earnings per ordinary share attributable IX. to Shareholders of Asseco Poland SA (former 1.23 0.61 0.32 0.16 Softbank SA) (in PLN / EUR) Diluted earnings per ordinary share attributable X. to Shareholders of Asseco Poland SA 1.23 0.61 0.32 0.16 (former Softbank SA) (in PLN / EUR)

The financial highlights disclosed in these condensed financial statements were translated into Euro in the following way:
the condensed consolidated profit and loss account and cash flow statement items were translated into Euro at the arithmetic average of mid exchange rates as published by the National Bank of Poland and in effect on the last day of each month in a given quarter. The rates were as follows:
for the period from 1 January 2007 to 30 June 2007: EUR 1 = PLN 3.8486
for the period from 1 January 2006 to 30 June 2006: EUR 1 = PLN 3.9002
the Group’s cash and cash equivalents as at the end of period reported and the corresponding period of the prior year were translated into Euro at the mid exchange rates as published by the National Bank of Poland on 30 June 2007 and 30 June 2006. The rates were as follows:
exchange rate effective on 30 June 2007: EUR 1 = PLN 3.7658
exchange rate effective on 30 June 2006: EUR 1 = PLN 4.0434

3 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

MERGER WITH ASSECO POLAND SA AND ISSUANCE OF SHARES Merger of Softbank SA with Asseco Poland SA On 4 January 2007 the District Court of the Capital City of Warsaw, XIII Commercial Department of the National Court Register entered in the register of entrepreneurs the Company's merger with Asseco Poland SA (the acquired company), seated in Rzeszów, entered in the register of entrepreneurs of the National Court Register under the number KRS 00000104838. The Merger was executed pursuant to article 492 § 1 item 1 of the Polish Commercial Companies Code, this is by transferring all the assets of Asseco Poland SA (the acquired company) to the Company in exchange for the Company's shares, which were assigned to the then existing shareholders of Asseco Poland SA (merger by acquisition). Under this merger the previous shareholders of Asseco Poland SA (the acquired company) were assigned 17,735,815 of the Company's ordinary bearer shares of series C, with a par value of PLN 1 each, proportionally to the number of shares owned in the acquired company, applying the exchange parity of 5.9 shares for 1 share of Asseco Poland SA (the acquired company). The total value of the merger shares issued amounted to PLN 975,470 thousand. Asseco Poland SA (the acquired company) conducted business activities including development of software and provision of IT services for the banking sector and miscellaneous companies. The shares of Asseco Poland SA (the acquired company) were listed on the Warsaw Stock Exchange until 2 January 2007. Afterwards, since 3 January 2007, the quotations of the acquired company shares were suspended. The Company underwent a number of changes related to the merger; the most important ones are: • Change of the Company's name from Softbank SA to Asseco Poland SA, • Shifting the Company's headquarters from Warsaw, ul. 17 Stycznia 72a, to Rzeszów, Al. Armii Krajowej 80, • Changes to the composition of the Management Board: o Mr. Krzysztof Korba was replaced by Mr. Adam Góral at the position of President of the Management Board, o the composition of the Management Board was supplemented with the following persons, in the capacity of members of the Management Board:
Mr. Marek Panek,
Mr. Zbigniew Pomianek,
Mr. Adam Rusinek. • Changes to the composition of the Supervisory Board: o the following persons were dismissed as members of the Supervisory Board:
Mrs. Maria Zagrajek,
Mr. Marek Jakubik. o the following persons were appointed as members of the Supervisory Board:
Mr. Jacek Duch,
Mr. Dariusz Górka,
Mr. Grzegorz Maciąg,
Mr. Adam Noga. • Changes to the Company's Articles of Association, as presented in the current report no. 3/2007 of 4 January 2007. The new Group of Companies employs over 3,000 persons.

4 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

MERGER WITH ASSECO POLAND SA AND ISSUANCE OF SHARES (continued)

Take-over of Asseco Czech Republic a.s. (former PVT a.s.) and the Building Automation Department from Prokom Software SA Concurrently to the merger-related increase of share capital, the Company increased its share capital by issuing Series B shares allocated in exchange for the non-cash contributions including 100% equity interest in Asseco Czech Republic a.s. (former PVT a.s.) based in Prague, Czech Republic, as well as an organized part of the Prokom Software SA enterprise operating as the Building Automation Department. In order to acquire the above-mentioned non-cash contributions, the Company issued 3,210,000 shares which were acquired entirely by Prokom Software SA (the parent company of Asseco Poland SA (former Softbank SA)). The issue price of 1 share equalled PLN 37.70, and its total value amounted to PLN 121,017 thousand. The 100% equity interest in Asseco Czech Republic a.s. (former PVT a.s.) was paid up with 2,140,000 shares, representing PLN 80,678 thousand in terms of the issuance value. For contribution of the organized part of the Prokom Software SA enterprise, namely the Building Automation Department ("DAB"), the Company assigned 1,070,000 shares, representing PLN 40,339 thousand of the issuance value. According to the Group's development strategy, in the first quarter of 2007 the Building Automation Department was shifted from Asseco Poland SA to Softbank Serwis Sp. z o.o.

Subscription warrants Furthermore, concurrently with the merger, on 4 January 2007, there was also registered a conditional increase of the Company's share capital, excluding pre-emptive rights of the existing shareholders, by the amount of PLN 295,000 through issuance of 295,000 ordinary bearer shares of series D, with a par value of PLN 1 each and the issue price of PLN 29.51 per share. The objective of such conditional increase of share capital was to vest the right to acquire series D shares of Asseco Poland SA (former Softbank SA) in the holders of registered subscription warrants of Asseco Poland SA (the acquired company). On 16 April 2007, Mr. Adam Góral, President of the Management Board of Asseco Poland SA, disposed 295,000 subscription warrants for the price of PLN 35.82 each. The warrants were purchased by the financial institution indicated by the Company. The warrants entitle to acquire 295,000 shares of series D in the Company's conditionally increased share capital. To the best of Management Board knowledge, at the moment of merger the Company's major shareholders were as follows:

Shareholders of Asseco Poland SA (former Softbank SA) Number of shares and % of share capital owned as at 4 January 2007 votes at GMS and voting interest at GMS Prokom Software SA 11,834,791 25.66% Adam Góral 8,083,000 17.53% ING TFI SA (investment funds) 4,154,579 9.00% Other Shareholders 22,048,158 47.81% Total 46,120,528 100%

5 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

CONDENSED CONSOLIDATED PROFIT AND LOSS ACCOUNT THE ASSECO GROUP 6 months 3 months 6 months 3 months ended Note no. ended ended ended 30 June 2006 30 June 2007 30 June 2007 30 June 2006 in Supplement ary PLN '000 PLN ‘000 PLN ‘000 PLN ‘000 Information Operating activities Sales revenues 1 499,853 290,092 216,811 114,072

Cost of sales (346,350) (206,191) ( 161,408) ( 84,279)

Gross profit on sales 153,503 83,901 55,403 29,793 Selling expenses (-) 2 (33,986) (20,185) ( 8,707) ( 3,751) General administrative expenses (-) 2 (43,836) (24,018) ( 31,944) ( 20,751)

Net profit on sales 75,681 39,698 14,752 5,291 Other operating income 3,272 2,047 723 280 Other operating expenses (-) (1,358) (882) ( 513) ( 364)

Operating profit 77,595 40,863 14,962 5,207

Other activities Financial income 3 26,431 14,523 22,612 10,797 Financial expenses (-) 3 (23,110) (9,436) ( 22,925) ( 10,331)

Share in the profit of associated company 592 592 2,961 1,433

Pre-tax profit 81,508 46,542 17,610 7,106 Corporate income tax (16,650) (9,961) ( 650) 319 (current and deferred portions)

Net profit (loss) on ordinary activities 64,858 36,581 16,960 7,425 Discontinued operations Profit (loss) on discontinued operations for the period 57 57 ( 1,141) ( 494) reported Profit (loss) for the period reported 64,915 36,638 15,819 6,931

Attributable to: 64,915 36,638 15,819 6,931

Shareholders of the Parent Company 57,118 32,682 15,434 6,796 Minority Shareholders 7,797 3,956 385 135

Consolidated earnings per share attributable to Shareholders of Asseco Poland SA (in PLN)

Basic earnings per share from consolidated net profit on continued operations for the period reported attributable 1.23 0.7 0.61 0.32 to Shareholders of the Parent Company (in PLN)

Diluted earnings per share from consolidated net profit on continued operations for the period reported attributable 1.23 0.7 0.61 0.32 to Shareholders of the Parent Company (in PLN)

6 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

CONDENSED CONSOLIDATED BALANCE SHEET THE ASSECO GROUP

Note no. 30 June 2007 31 December 2006

in Supplementary PLN ‘000 PLN ‘000 Information ASSETS Fixed assets 1,449,750 289,510

Property, plant and equipment 64,895 29,315 0 Investment property 0

Intangible assets 35,351 5,727 Consolidation goodwill 4 1,257,280 74 050 Investments in associated undertakings valued under 1,960 97,360 the equity method

Shares in subsidiary undertakings 79 0

Financial assets available for sale 40 0

Financial assets valued at fair value through profit or loss 6 787 917

Long-term receivables 58,787 54,932

Deferred income tax assets 27,878 25,975

Long-term deferred expenses 2,693 1,234

Current assets 653,800 396,057

Inventories 32,084 16,900 Accrued expenses 20,906 15,564 Trade accounts receivable 227,346 146,179 Corporate income tax recoverable 1,121 238 Receivables from the State budget 1,657 143 Other receivables 83,488 47,625 Financial assets available for sale 26 Financial assets held to maturity 5 27,058 34,313 Loans granted 2,706 210

Financial assets valued at fair value through profit or loss 6 65,560 84,080

Cash and short-term deposits 188,214 47,355

Assets classified as held for sale 3,634 3,450

TOTAL ASSETS 2,103,550 685,567

7 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

CONDENSED CONSOLIDATED BALANCE SHEET THE ASSECO GROUP (continued)

Note no. 30 June 2007 31 December 2006 in Supplementary PLN ‘000 PLN ‘000 Information SHAREHOLDERS EQUITY AND LIABILITIES

SHAREHOLDERS' EQUITY (ATTRIBUTABLE TO 1,492,449 340,283 SHAREHOLDERS OF THE PARENT COMPANY)

Share capital 46,446 25,175 Share premium 1,339,471 253,151 Capital securities issued due to payments in shares 2,498 Foreign currency translation differences on subsidiary and (4,475) ( 3,118) associated companies Retained earnings (deficit) and current net profit 111,007 62,577

MINORITY INTERESTS 106,018 3,391

TOTAL SHAREHOLDERS' EQUITY 1,598,467 343,674

Long-term liabilities 109,005 107,245

Interest-bearing bank credits, loans and debt securities 8 9,105 0 Deferred income tax reserves 851 0 Long-term reserves 579 645 Long-term financial liabilities 7 95,901 103,185 Long-term deferred income 2,162 3,415 Other long-term liabilities 407 0

Current liabilities 396,078 234,648

Interest-bearing bank credits, loans and debt securities 8 28,035 7,186 Trade accounts payable 122,182 61,235 Corporate income tax payable 10,016 5,207 Liabilities to the State budget 20,912 13,447 Financial liabilities 7 43,184 32,236 Other liabilities 102,100 81,037 Reserves 9,680 3,880 Accrued expenses 32,872 19,841 Deferred income 27,051 10,579

Liabilities directly related to long-term assets classified 46 0 as held for sale

TOTAL LIABILITIES 505,083 341,893

TOTAL SHAREHOLDERS' EQUITY AND 2,103,550 685,567 LIABILITIES

8 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY THE ASSECO GROUP for 6 months ended 30 June 2007 and for 12 months ended 31 December 2006 Capital from bonds Foreign currency Retained convertible translation earnings Total Share Minority Share capital to shares issued due differences on (deficit) and Total Shareholde premium interests to payments in subsidiary current rs' Equity shares companies net profit PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000

As at 1 January 2007 25,175 253,151 2,498 ( 3,118) 62,577 340,283 3,391 343,674

Net profit for the period from 1 January 2007 to 30 June 2007 57,118 57,118 7,797 64,915 Dividend for the year 2006 ( 18,578) ( 18,578) ( 18,578) Foreign currency translation differences on subsidiary companies ( 1,357) ( 1,357) 287 ( 1,070) Merger with Asseco Poland SA 3,219 9,891 13,110 77,536 90,646 Issuance of shares due to the merger with Asseco Poland SA 17,736 957,734 975,470 975,470 Issuance of shares due to acquisition of non-cash contributions 3,210 117,807 121,017 121,017 Expenses related directly to issuance of shares 0 ( 3,332) ( 3,332) ( 3,332) Issuance of shares due to conditional increase of share capital (sale 295 12,712 ( 4,310) 8,697 8,697 of warrants) Issuance of shares due to conversion of convertible bonds 30 1,398 ( 1,407) 21 21 Changes in the Group composition 0 27,346 27,346 Dividends for minority shareholders 0 ( 10,340) ( 10,340)

As at 30 June 2007 46,446 1,339,470 ( 0) ( 4,475) 111,008 1,492,449 106,018 1,598,467

As at 1 January 2006 25,175 253,151 801 475 4,123 283,725 2,649 286,374

Net profit for the period from 1 January 2006 to 31 December 2006 74,565 74,565 742 75,307 Foreign currency translation differences on subsidiary and ( 3,593) ( 3,593) ( 3,593) associated companies Cost of employee benefits in the form of own shares 1,091 1,091 1,091 recognized by the associated company Cost of employee benefits in the form of own shares 606 606 606 Dividend paid-out for the year 2005 ( 16,111) ( 16,111) ( 16,111)

As at 31 December 2006 25,175 253,151 2,498 ( 3,118) 62,577 340,283 3,391 343,674 On 4 January 2007 the Company merged with Asseco Poland SA (the acquired company), which is described in more detail in section "Merger with Asseco Poland SA and issuance of shares" of these interim condensed consolidated financial statements.

9 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS THE ASSECO GROUP

6 months ended 6 months ended

30 June 2007 30 June 2006 PLN ‘000 PLN ‘000 Cash flows – operating activities Pre-tax profit 81,565 16,469 Total adjustments: 12,747 ( 15,288) Share in net profit of companies valued under the equity method (944) ( 2,961) Depreciation and amortisation 14,437 6,776 Change in inventories (6,035) 1,649 Change in receivables (13,181) 84,080 Change in liabilities 23,625 ( 101,926) Change in deferred and accrued expenses 21,237 572 Change in reserves (7,656) ( 425) Interest income and expense (8,288) 2,089 Gain (loss) on foreign exchange differences (9,692) ( 7,765) Gain (loss) on investing activities (1,283) 2,701 Other (359) ( 78) Net cash generated from operating activities 94,312 1,181 Interest paid (1,002) ( 1,422) Income tax paid (5,059) ( 2,070) Net cash provided by (used in) operating activities 88,251 ( 2,311)

Cash flows – investing activities Disposal of tangible fixed assets 765 404 Disposal of intangible assets 8 0 Disposal of investments in real estate 0 Proceeds from redemption of financial assets held to maturity 15,906 571 Disposal of financial assets valued at fair value through profit or loss (157) 0 Disposal of shares in subsidiary companies 0 0 Acquisition of tangible fixed assets (9,942) ( 3,352) Acquisition of financial assets held to maturity (74,681) 0 Acquisition of intangible assets (1,235) ( 651) Acquisition of financial assets held to maturity ( 13,514) Acquisition of subsidiary companies less cash taken over 73,483 ( 82) Cash and cash equivalents of acquired companies 11,379 0 Acquisition of associated companies (22,552) 0 Loans collected 333 0 Loans granted 191 0 Interest received 2,113 276 Dividends received 0 1,244 Other items 0 4 Cash provided by forward transactions 12,579 11,709 Net cash provided by (used in) investing activities 8,190 ( 3,391)

Cash flows – financing activities Finance lease commitments paid (594) 0 Issuance of shares 7,450 0 Dividend paid out to shareholders of Asseco Poland SA (17,344) 0 Dividend paid out to minority shareholders (10,244) 0 Bank credits and loans contracted 71,981 3,817 Bank credits and loans paid back (7,366) ( 11,322) Redemption of debt securities issued 21,066 ( 13,676) Cash provided by issuance of debt securities (21,200) 0 Other 1,364 0 Net cash provided by (used in) financing activities 45,113 ( 21,181) Net increase (decrease) in cash and cash equivalents 141,554 ( 26,883) Net foreign exchange differences (695) 0 Cash and cash equivalents as at 1 January 47,355 62,140 Cash and cash equivalents as at 30 June 188,214 35,257

10 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

CONDENSED INFORMATION ON THE BUSINESS SEGMENTS THE ASSECO GROUP

Polish Slovak Czech Romanian For the current period - 6 months of 2007 market market market market Total and as at 30 June 2007 operations operations operations operations operations PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 Sales revenues for 6 months ended 31 June 2007 External customer sales 328,740 83,306 65,969 21,810 499,824 Intersegment sales 0 29 0 0 29 Total segment's revenue 328,740 83,335 65,969 21,810 499,853 Profits Segment's profit 57,516 9,869 6,423 1,873 75,681 Other net operating income (expenses) 1,170 679 (196) 261 1,914 Net financial income (expenses) 2,722 1,078 (22) (457) 3,321 Pre-tax profit 60,705 11,880 6,547 2,377 81,508 Corporate income tax (tax expense) (11,903) (2,061) (2,157) (528) (16,650)

Net profit (loss) for the financial year 48,858 9,818 4,390 1,849 64,915 Assets and liabilities as at 30 June 2007 Segment's assets 1,840,784 167,042 60,677 33,033 2,101,590 Investments in associated companies 0 132 1,828 1,960 Segment's liabilities 402,868 45,714 34,507 21,995 505,083

Other information on the business segments for 6 months ended 30 June 2007 Capital expenditures 40,126 37,246 721 519 78,612

Depreciation and amortisation 7,925 4,006 2,287 220 14,437

11 THE ASSECO GROUP Q2 2007 All figures in PLN thousands CONDENSED INFORMATION ON THE BUSINESS SEGMENTS THE ASSECO GROUP (continued)

For 6 months ended 30 June 2006 Polish market Media operations Total operations and as at 30 June 2006 operations – discontinued PLN ‘000 PLN ‘000 PLN ‘000 Sales revenues for 6 months ended 30 June 2006 External customer sales 222,651 3,445 226,096 Intersegment sales (5,840) 0 (5,840) Total segment's revenue 216,811 3,445 220,256 Profits Segment's profit (loss) 14,752 (1,150) 13,602 Other net operating income (expenses) (313) (6) (319) Net financial income (expenses) 2,961 0 2,961 Pre-tax profit 17,610 (1,141) 16,469 Corporate income tax (tax expense) (650) 0 (650)

Net profit (loss) for the financial year 16,960 (1,141) 15,819 Assets and liabilities as at 30 June 2006 Segment's assets 485,616 2,575 488,191 Investments in associated companies 87,852 0 87,852 Segment's liabilities 287,017 3,129 290,146

Other information on the business segments for 6 months ended 30 June 2006 Capital expenditures (3,997) (181) (4,178)

Depreciation and amortisation (6,691) (85) (6,776)

12 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

CONDENSED INFORMATION ON THE BUSINESS SEGMENTS THE ASSECO GROUP (continued)

Until the end of 2006, the Asseco Group did not report separately any geographical segments, nor industrial segments. The only segment of continuing operations were "integration activities". Since the beginning of 2007, the scope of the Company's operations was extended as a result of merger with Asseco Poland SA and acquisition of the non-cash contribution of Asseco Czech Republic a.s. (former PVT a.s.). Hence, geographical regions became the main criterion of segmentation of the Company's operations. Geographic segments may be determined by the regions in which the Group conducts its business operations.

The Asseco Group operations are divided by geographical area of performed activities; the following main regions have been determined: • Operations in the Polish IT market, • Operations in the Slovak IT market, • Operations in the Czech IT market, • Operations in the Romanian IT market.

Since 2007 the Group has abandoned segmenting its operations by industry because it is only engaged in information technology activities, which include provision of own software, licences, and services as well as computer hardware.

In 2006 the Group disposed its publishing activities, whereas in the first half of 2007 operation of the Building Automation Department was discontinued.

13 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

FINANCIAL PERFORMANCE OF THE ASSECO GROUP

In Q2 2007 the Asseco Group’s sales revenues amounted too PLN 290,092 thousand and they increased by 155% as compared with the prior year's corresponding period. Such increase in sales resulted basically from the merger between the groups of Softbank and Asseco Poland. The largest portion of the Group's revenue was constituted by the sale of proprietary software and own services – PLN 117,312 thousand, this is 40% of total turnover. Such phenomenon is in accordance with the business strategy, as adopted by the Management Board, to focus on the sale of proprietary software and own services, which generate the highest profit margins. Thereby, in Q2 2007 the Group's operating profit margin increased to 14% from 7% achieved in the prior year.

Sales revenues by sector 6 months 3 months 6 months 3 months ended ended ended ended 30 June 2007 30 June 2007 30 June 2006 30 June 2006 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 Banking and finance 248,881 138,740 129,833 65,890 Public institutions 120,676 80,656 40,624 24,915 Other sectors 130,296 70,696 46,354 23,267 Total: 499,853 290,092 216,811 114,072

Sales revenues by sector (%) 6 months 3 months 6 months 3 months ended ended ended ended 30 June 2007 30 June 2007 30 June 2006 30 June 2006 % % % % Banking and finance 49.8% 47.8% 59.9% 57.7% Public institutions 24.1% 27.8% 18.7% 21.9% Other sectors 26.1% 24.4% 21.4% 20.4% Total: 100.0% 100.0% 100.0% 100.0% In Q2 2007, the banking and finance sector was the Group's key revenue driver. The Group revenues from the banking sector increased by 111% year on year and the sector accounted for 48% of total sales. Within the banking sector the largest contracts of Asseco Poland SA included those executed for PKO BP Bank: implementation of the Integrated IT System (ZSI), implementation and modification work on other systems being implemented, such as Zorba, Cezar, and the Central Support System. Sales to the banking sector increased also owing to execution of the agreement with BOŚ Bank for centralization of their def2000 system and extension of IT infrastructure at the bank. Furthermore, Asseco Poland SA implemented contracts for: Gospodarczy Bank Wielkopolski SA (implementation of Multicomp and Set-BS systems), Cooperative Banking Group (implementation of the comprehensive def3000 banking system), EuroBank (implementation of new version of def3000 inclusive of customization), DB PBC (implementation of the comprehensive def3000 system for Bank Wielkopolski), Getin Bank (implementation of def3000) ; Volkswagen Bank Poland SA (implementation of the Internet Banking System and modification of the utilized banking system). Also other companies of the Group provided their products and services to the banking sector clients. Those companies and their respective sales were as follows: Novum Sp. z o.o. – PLN 5 million, Gladstone Consulting Ltd. – PLN 6 million, Asseco Systems Sp. z o.o. – PLN 5 million, and Asseco Slovakia a.s. – PLN 12 million. In Q2 2007, in the public administration sector the Asseco Group recorded a turnover of PLN 80,656 thousand, i.e. an increase by 224% year on year. The largest contracts of Asseco Poland SA which made up sales to the public administration sector in Q2 2007 were: implementation work under the CEPiK contract and deliveries of software to ZUS (Social Insurance Institution). The Group subsidiaries also generated revenues from the public administration sector, the highest of which were reported by Asseco Systems Sp. z o.o. – PLN 42 million for supply of computer hardware to the Ministry of National Education.

14 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

FINANCIAL PERFORMANCE OF THE ASSECO GROUP (continued)

Consolidated financial results of the Asseco 6 months 3 months 6 months 3 months (former Softbank) Group ended ended ended ended 30 June 2007 30 June 2007 30 June 2006 30 June 2006 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 Sales revenues 499,853 290,092 216,811 114,072 Gross profit on sales 153,503 83,901 55,403 29,793 Operating profit 77,595 40,863 14,962 5,207 Net profit attributable to Shareholders 57,118 32,682 15,434 6,796 of the Parent Company

Key profitability ratios of the Asseco Group [%] 6 months 3 months 6 months 3 months ended ended ended ended 30 June 2007 30 June 2007 30 June 2006 30 June 2006

Gross margin on sales 30.7% 28.9% 25.6% 26.1% Operating profit margin 15.5% 14.1% 6.9% 4.6% Net profit margin 11.4% 11.2% 7.1% 6.0%

In Q2 2007 the Asseco Group recorded a 181% increase in the gross profit on sales. It has to be admitted that such favourable result was achieved basically due to the merger between the groups of Softbank and Asseco Poland; however, execution of highly profitable contracts in the banking and enterprises sectors played a substantial role too. Sales of own software and services rose considerably and resulted in a gross profit on sales of PLN 83,901 thousand, with a high gross margin of 29%. The gross margin increased by 3 percentage points as compared with Q2 2006.

In the period reported, selling expenses aggregated at PLN 20,185 thousand and they increased by 438% year on year as a result of consolidation of new companies. General administrative costs amounted to PLN 24,018 thousand and they remained at the level observed before the merger of Softbank and Asseco. This means the merger enabled savings in administrative expenses. Group managed to increase its operating profit by 684% as growing selling expenses were offset by sizeable sales and higher margins of profit obtained.

Furthermore, the Asseco Group recognized a gain on financing activities in the amount of PLN 5 million.

In Q2 2007, the Asseco Group net profit attributable to Shareholders of the Parent Company, amounted to PLN 32,682 thousand and it increased by 381% from the last-year's level.

15 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

GENERAL INFORMATION

The parent company of the Asseco Group is Asseco Poland SA (the "Company", "Issuer") with the registered seat at Al. Armii Krajowej 80, Rzeszów, Poland. The Company was established on 18 January 1989 as a limited liability company, and subsequently under notary deed of 31 August 1993 it was transformed into, and since than has been operating as, a joint-stock company with registered office at ul. 17 Stycznia 72a, Warsaw, Poland. The Company is entered in the Register of Entrepreneurs of the National Court Register under the number KRS 33391 (previously the Company had been entered into the Commercial Register maintained by the District Court of the Capital City of Warsaw, Commercial Court, XVI Commercial and Registration Department, under the number RHB 17220).

On 4 January 2007 the Issuer changed its name from Softbank SA to Asseco Poland SA, and shifted its headquarters from ul. 17 Stycznia 72a, Warsaw to Al. Armii Krajowej 80, Rzeszów. Armii Krajowej 80.

Since 1998, the Company shares have been listed on the main market of the Warsaw Stock Exchange SA. The Company has been assigned the statistical number REGON 010334578. The period of the Company's operations is indefinite.

Asseco Poland SA is the parent company of the Asseco Group. Prokom Software SA is the parent company of Asseco Poland SA; this results from exercising control over the Issuer's operating activities. As at 30 June 2007, Prokom Software SA held 25.48% of Asseco Poland SA shares which entitled them to the proportional voting interest at the General Meeting of Shareholders.

The business profile of Asseco Poland SA includes software and hardware consultancy, production of software as well as supply of software and hardware. According to the Polish Classification of Business Activities, the Parent Company’s core business is "software consultancy and supply" (PKD- 7222Z). This category includes analysing, developing, and programming ready-to-use IT systems. According to the classification adopted by the Warsaw Stock Exchange, the Parent Company’s business activity is classified as "information technology".

Other undertakings of the Group conduct similar operations. In addition to comprehensive IT services, the Group also sells goods including mainly computer hardware. The conducted sale of goods is to a large extent connected with the provision of software implementation services.

These condensed consolidated financial statements provide a description of the Asseco Group’s core business broken down by relevant segments.

These condensed consolidated financial statements cover the interim period ended 30 June 2007 and contain comparable data for the interim period ended 30 June 2006 in case of the profit and loss account and cash flow statement, and as at 31 December 2006 in case of the balance sheet.

The Company draws up its financial statements in accordance with the International Financial Reporting Standards ("IFRS") for the current and comparable period. Asseco Poland SA has begun to apply the IFRS since the year 2005.

16 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

GENERAL INFORMATION (continued)

In 2007 the Company paid out to its shareholders a dividend for 2006. By decision of the Ordinary General Meeting of Shareholders, 32% of net profit for the year 2006 was distributed as payment of a dividend of PLN 0.40 per share. The remaining part of net profit for the year 2006 was appropriated for increasing the Company's reserve capital.

Basis for Preparation of Condensed Consolidated Financial Statements

The condensed consolidated financial statements were prepared in accordance with the historical cost principle, except for derivative financial instruments and financial assets available for sale valued at their fair value.

The currency of the condensed consolidated financial statements is zloty (PLN), and all the figures are presented in thousands of zlotys (PLN ‘000), unless stated otherwise.

These condensed consolidated financial statements were prepared on the going-concern basis. It was assumed that the Parent Company as well as its subsidiary companies will continue their business activities in the foreseeable future. Till the date of approving these financial statements, there have been observed no circumstances indicating a threat to continuing business activities by the Group.

Compliance Statement

These condensed consolidated financial statements were prepared in compliance with the International Financial Reporting Standards ("IFRS") adopted by the European Union, and in particular in accordance with the International Accounting Standard ("IAS") 34. IFRS include standards and interpretations accepted by the International Accounting Standards Board ("IASB") and the International Financial Reporting Interpretations Committee ("IFRIC").

The Group is reporting under IFRS applicable to financial statements for the fiscal years started after 1 January 2006.

As at the date of approving publication of these financial statements, given the ongoing process of implementing the IFRS standards in the EU as well as the Group's operations, there is no difference between the IFRS applied by the Group and the IFRS adopted by the European Union.

Some of the Group’s companies maintain their accounting books in accordance with the accounting policies (principles) set forth in the Polish Accounting Act of 29 September 1994 and the provisions issued thereunder ("Polish Accounting Standards"). The condensed consolidated financial statements include adjustments not disclosed in the accounting books of the Group's companies, which were introduced to adjust the financial statements of those companies to the IFRS.

The accounting policy (principles) applied in preparing these condensed consolidated financial statements are presented in the full annual consolidated financial statements for the period of 12 months ended 31 December 2006, which was published on 13 April 2007. These condensed consolidated financial statements should be read together with the said full annual consolidated financial statements of the Asseco (former Softbank) Group for the period of 12 months ended 31 December 2006.

17 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

GENERAL INFORMATION (continued)

Estimates

Preparing condensed consolidated financial statements in accordance with IFRS requires making estimates and assumptions which impact the data disclosed in such financial statements. Despite the estimates and assumptions have been adopted based on the Group's management best knowledge on the current activities and occurrences, the actual results may differ from those anticipated.

Below are presented the main areas, which in the process of applying the accounting principles (policy) were subject to accounting estimates and the management's professional judgement, and whose estimates, if changed, could significantly affect the Group's future results.

Operating cash flows assumed for valuation of IT contracts as well as measurement of their advancement The Group executes a number of contracts for construction and implementation of information technology systems. Additionally, some of those contracts are denominated in foreign currencies. Valuation of IT contracts requires that future operating cash flows are determined in order to arrive at the fair value of sales revenues and costs, as well as to provide the fair value of the embedded currency derivatives. The assumed operating cash flows are not always consistent with the agreements with customers or suppliers due to modifications of the implementation schedules of IT projects involved.

The progress of contract execution shall be measured as a percentage of the total estimated contract execution costs incurred from the date of agreement till the day when the related revenues are being determined (to a degree such execution costs correspond to the progress of work) or as a portion of completed work out of the total work-effort required.

Rates of depreciation and amortisation The level of depreciation and amortisation rates is determined on the basis of anticipated period of useful economic life of the components of tangible and intangible assets. The Group verifies the adopted periods of useful life on an annual basis, taking into account the current estimates.

Goodwill – impairment test At the end of 2006, the Management Board of the Parent Company performed an impairment test on goodwill that resulted from acquisition of subsidiary companies. This task required making estimates of the value in use of cash generating units, which include goodwill. The value in use is estimated by determination of the future cash flows expected to be generated from the cash generating unit and selection of a discount rate to be used in order to calculate the net present value of those cash flows. As at 30 June 2007, no impairment on goodwill was detected.

Professional judgement

The Group concluded a number of contracts for leasing of transportation vehicles, classified as operating leasing contracts. The lessor keeps all the material risks and benefits resulting from ownership of those assets.

The embedded derivatives, which are strictly related to the principal agreements, are accounted for separately as other derivatives, not classified as securing instruments. Gains/losses on changes in fair value of derivatives are reflected in the profit and loss account for the period in which they actually occurred.

18 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

GENERAL INFORMATION (continued)

For some types of transactions, embedded derivatives are not detached from the principal agreement and are not accounted for separately, especially if the transaction is carried out in the currency deemed as applied customarily in such type of transactions in the given economic environment. The contracts of such type include, among others, real estate lease agreements and, as from 1 January 2005, also IT services contracts because applying Euro rates becomes more and more common.

Combinations of business entities under common control are accounted for using the purchase method in accordance IFRS 3, provided such transaction is economically justified.

Changes in data for Q2 2007

In 2007 the Group's officers decided to change the method for presentation of sales revenues. Until the end of 2006, sales revenues were classified as sales of products or merchandise. From the beginning of 2007, sales revenues will no longer be categorized this way. Such modification resulted from the changing the Group's business profile into an enterprise providing comprehensive information technology solutions based on proprietary products.

Composition of the Management Board and Supervisory Board of the Parent Company

As at publication of these financial statements (8 August 2007), the Company's Management Board was composed of the following persons:

First name and surname Position Adam Góral President of the Management Board Przemysław Borzestowski Vice President of the Management Board Piotr Jeleński Vice President of the Management Board Marek Panek Vice President of the Management Board Zbigniew Pomianek Vice President of the Management Board Adam Rusinek Vice President of the Management Board Przemysław Sęczkowski Vice President of the Management Board Robert Smułkowski Vice President of the Management Board

As at publication of these financial statements (8 August 2007), the Company's Supervisory Board was composed of the following persons:

First name and surname Position Ryszard Krauze Chairman of the Supervisory Board Jacek Duch Member of the Supervisory Board Dariusz Górka Member of the Supervisory Board Stanisław Janiszewski Member of the Supervisory Board Grzegorz Maciąg Member of the Supervisory Board Piotr Mondalski Member of the Supervisory Board Adam Noga Member of the Supervisory Board

Major Shareholders and Changes in the Ownership of Significant Stakes of Shares

According to the best knowledge of the Management Board of Asseco Poland SA the Shareholders who, directly or through their subsidiary companies, hold at least a 5% voting interest at the Company's General Meeting of Shareholders are as follows.

19 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

GENERAL INFORMATION (continued)

Major Shareholders in Asseco Poland SA according to information available as at 30 June 2007 Number of shares % of share capital owned Name of Shareholder and votes at GMS and voting interest at GMS Prokom Software 11,834,791 25.48% Adam Góral 8,083,000 17.40% ING TFI 3,668,000 7.90% Pioneer Pekao TFI 2,358,641 5.08% Other shareholders 20,501,372 44.14% 46,445,804 100.00%

As at 30 June 2007, the share capital of Asseco Poland SA amounted to PLN 46,445,804 and was divided into 46,445,804 ordinary shares with a par value of PLN 1 each.

Sale of warrants by the President of the Board

On 16 April 2007 , Mr. Adam Góral, President of the Management Board of Asseco Poland SA, disposed 295,000 subscription warrants for the price of PLN 35.82 each. The warrants were purchased by the financial institution indicated by the Company. The warrants entitle to acquire 295,000 shares of series D in the Company's conditionally increased share capital. /Asseco Poland SA current report no. 28/2007 of 20 March 2007/

Registration of conditional increase of share capital

On 19 April 2007 , the District Court in Rzeszów, XII Commercial Department of the National Court Register, registered the increase of the Company's share capital through issuance of 30,276 shares under the procedure of conversion of series D convertible bonds issued following the Resolution no. 4 of the Company's General Meeting of Shareholders held on 9 August 2000. /Asseco Poland SA current report no. 34/2007 of 27 April 2007/

On 15 May 2007, the District Court in Rzeszów, XII Commercial Department of the National Court Register, registered the increase of the Company's share capital by 295,000 shares of series D with a par value of PLN 1 each that were issued due to conditional increase of share capital according to the Resolution no. 2 of the Extraordinary General Meeting of Shareholders of Softbank SA (at present Asseco Poland SA) held on 14 November 2006. After the said registration, the Company’s share capital amounts to PLN 46,445,804 and is divided into 46,445,804 shares with a par value of PLN 1 each, entitling to the same number of votes at the General Meeting of Shareholders of Asseco Poland SA. /Asseco Poland SA current report no. 36/2007 of 15 May 2007/

20 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

GENERAL INFORMATION (continued)

Changes in the numbers of Asseco Poland SA shares held by the Company's managing and supervisory staff

Number of shares Supervisory Board Members as at 8 August 2007 as at 30 June 2007 as at 31 December 2006 Ryszard Krauze 0 0 0 Jacek Duch 0 0 n/a Dariusz Górka 0 0 n/a Marek Jakubik n/a n/a 0 Stanisław Janiszewski 1,600 1,600 1,600 Grzegorz Maciąg 0 0 n/a Piotr Mondalski 0 0 0 Adam Noga 0 0 n/a Maria Zagrajek n/a n/a 0

Number of shares Management Board Members as at 8 August 2007 as at 30 June 2007 as at 31 December 2006 Adam Góral 8,083,000 8,083,000 n/a Krzysztof Korba n/a n/a 0 Przemysław Borzestowski 0 0 0 Piotr Jeleński 0 0 0 Marek Panek 0 0 n/a Zbigniew Pomianek 0 0 n/a Adam Rusinek 0 0 n/a Przemysław Sęczkowski 0 0 0 Robert Smułkowski 1,500 1,500 1,500

Current business operations of Asseco Poland SA

Asseco Poland SA all the time conducts very intensive activities related to the execution of projects falling within the Company's business profile.

Agreements entered into On 26 April 2007, the Company concluded an agreement with Bank Ochrony Środowiska SA. The subject of this agreement is to centralize the defBank Pro system currently utilized by the Bank, which shall be an intermediate stage in the process of implementing the target central IT system. According to the schedule, the project shall have been completed by the end of this year. In the period reported Asseco Poland SA also signed: - with PKO BP Bank – annexes for further development of information technology systems, - with Bank Gospodarki Żywnościowej SA – an annex for extension of their IT system, - with DB PBC – an annex for provision of additional functionality of the Consumer Finance solution and def3000 system, - with Getin Bank – an agreement for implementation of the Internet Banking System (for individual clients), - with Nykredit Realkredit A/S Polish Division – an agreement for implementation of BIK on- line system enabling sending enquiries to the Credit Information Agency (BIK SA) as well as an agreement for increasing the number of licenses, - with Bank Gospodarstwa Krajowego – annexes for modification of the utilized IT systems, - with Polish Security Printing Works – an agreement for installation and maintenance of computer workstations,

21 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

GENERAL INFORMATION (continued)

- with Rzeszowski Zakład Energetyczny SA (power supply company) – an agreement for implementation of the integrated technical infrastructure management system (TOMS) as well as an agreement for pilot implementation of the real estate management system (AMES). Moreover, the Company concluded 3 agreements with cooperative banks for delivery of the centralized IT system, and 8 contracts for use of the Internet Services Centre.

Projects completed In the period reported the Company completed the following projects: - Euro Bank – completion of Stage I of the agreement, ongoing execution of Stages II and III of the project, - Volkswagen Bank (e-Direct) – agreement for the internet banking system, completion of Stage I (production of functionalities) and commencement of acceptance tests, - DB Consumer Finance – completion of extension of the Consumer Finance project, - Bank Ochrony Środowiska – completion of pilot phase (Stage I) of the database centralization project. Asseco Poland SA completed implementation of the central IT systems at 9 cooperative banks and carried out installation of the Internet Services Centre at 13 cooperative banks.

Ongoing projects During Q2 2007, Asseco Poland SA achieved much progress in execution of the following several major projects: - for PKO BP Bank – agreements for implementation of the Integrated Information System, - for PKO BP Bank – agreements for maintenance of ZORBA system along with the annex for the Central Support System, - for the Ministry of Internal Affairs and Administration – agreement for modification of the Central Register of Vehicles and Drivers (CEPiK) in order to meet the needs resulting from the applied Business Processes Model, and to upgrade the Enveloping and Printing Line, - for Polish Security Printing Works – agreement for integration of the systems Driver and Vehicle with the CEPiK system, - for PKO BP Bank – agreement for modification of ZORBA system, - for PKO BP Bank – agreement for execution of the central application Self-Service Terminals, - for PKO BP Bank – agreement for implementation of the financial reporting system according to MSR39, - for Eurobank – execution of Stages II and III of implementation of the new version of def3000, inclusive of customization, - for the Cooperative Banking Group of Gospodarczy Bank Wielkopolski – execution of the agreement for implementation of the comprehensive def3000 system, - for Gospodarczy Bank Wielkopolski SA – execution of the agreement for implementation of Multicomp and Set-BS systems, - for DETAL IT – ongoing execution of Stages II and III of the project, - for DB PBC – agreement for implementation of the comprehensive def3000 system,

22 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

GENERAL INFORMATION (continued)

- for Dominet – ongoing execution of the agreement for creation of API interface to the defBank Pro system, - for Getin Bank SA – ongoing execution of the agreement for implementation of the comprehensive def3000 system, - for Volkswagen Bank Poland SA – ongoing implementation of the Internet Banking System and modification of the utilized banking system (replacement of the old system with a new e-direct one), - for Bank Ochrony Środowiska – ongoing execution of the database centralization project.

Extraordinary General Meetings of Shareholders The Ordinary General Meeting of Shareholders, which was held on 23 May 2007, passed resolutions on approving the financial statements and the report on business operations of the company Asseco Poland and the Asseco Group, as well as resolutions on accepting performance of duties by members of the Management Board and Supervisory Board of Asseco Poland (former Softbank) and by members of the Management Board and Supervisory Board of Asseco Poland. There was also passed a resolution on changing the manner of the Company's representation. At present, the Company may be represented by President of the Management Board acting independently, two Vice Presidents or one Vice President with another Member of the Management Board acting jointly. /Current report no. 38/2007 of 24 May 2007/

23 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

1. Breakdown of sales revenues

6 months 3 months 6 months 3 months ended ended ended ended 30 June 2007 30 June 2007 30 June 2006 30 June 2006 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 Proprietary software and services 206,961 117,312 82,536 43,724 Third-party software and services 86,139 46,539 75,497 39,355 Computer hardware and infrastructure 113,061 82,489 44,721 24,940 Outsourcing 58,978 26,493 14,057 6,053 IT telecommunications 33,491 17,259 0 0 Other sales 1,223 0 0 0 499,853 290,092 216,811 114,072

In Q2 2007, the Group observed positive changes in the structure of its sales revenues. Turnover generated by proprietary software and services increased by 168% year on year. This favourable change resulted from the merger between the groups of Softbank and Asseco. Thanks to the merger the Group sells more IT solutions and services of its own. In Q2 2007 these sales amounted to PLN 117,312 thousand.

Whereas, sales of third-party software and related services increased only by 18% in Q2 2007, and accounted for approx. 16% of total revenues. In the period reported, sales of IT hardware constituted 29% of total turnover, up from 22% in 2006. Sales of computer hardware improved thanks to the contracts of Asseco Systems Sp. z o.o. with the Ministry of National Education for supply of computers to schools with the total value of PLN 43.1 million. As a result of the merger of the groups of Softbank and Asseco, a new sector (IT telecommunications) was included in the structure of sales, and revenues from outsourcing services increased substantially. IT telecommunication services are provided by the company Slovanet, a.s. of Slovakia, an indirect subsidiary of Asseco Poland SA.

In 2007 the Group's officers decided to change the method for presentation of sales revenues. Until the end of 2006, sales revenues were classified as sales of products or merchandise. From the beginning of 2007, sales revenues will no longer be categorized this way. Such modification resulted from the changing the Group's business profile into an enterprise providing comprehensive information technology solutions based on proprietary products.

24 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

2. Breakdown of operating expenses

6 months 3 months 6 months 3 months ended ended ended ended 30 June 2007 30 June 2007 30 June 2006 30 June 2006 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000

Materials and energy used (-) (15,052) (10,251) ( 7,581) ( 4,914) Third party work (-) (142,918) (72,623) ( 58,582) ( 30,664) Salaries (-) (116,338) (62,994) ( 51,014) ( 25,696) Employee benefits (-) (16,436) (8,450) ( 8,375) ( 3,941) Depreciation and amortisation (-) (14,437) (6,961) ( 6,776) ( 3,334) Taxes and charges (-) (969) (552) ( 862) ( 490) Business trips (-) (3,504) (1,977) ( 1,463) ( 718) Other (-) (6,175) (7,451) ( 2,315) ( 4,256) Cost of hardware and software purchased for (108,452) (77,766) ( 55,107) ( 33,863) implementation of IT systems (-) Total (424,281) (248,995) ( 202,275) ( 107,876)

Changes in inventories, products and deferred (108) 1,400 ( 216) 905 expenses Selling expenses (-) (33,986) (20,185) ( 8,707) ( 3,751) General administrative expenses (-) (43,836) (24,018) ( 31,944) ( 20,751) Cost of products sold (-) (346,350) (206,191) ( 161,408) ( 84,279)

In Q2 2007, the Group made additional allowances for accounts receivable in the amount of PLN 1,401 thousand, thereby increasing the cost of products sold.

25 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

3. Financial income and expenses

Financial income 6 months 3 months 6 months 3 months ended ended ended ended 30 June 2007 30 June 2007 30 June 2006 30 June 2006 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000

Interest income on loans granted, debt securities 3,744 1,493 689 236 and bank deposits Other interest income 2,455 629 1,900 612 Gain on foreign exchange differences 1,562 918 819 392 Gain on valuation of capital investments 0 0 166 166 Other financial income 1,465 1,463 63 58 Total financial income (at historical value) 9,226 4,503 3,637 1,464 Gain on change in fair value of embedded currency derivatives 3,537 (220) 6,129 5,602 Gain on exercise of currency derivatives - forward 13,668 10,240 11,709 3,495 contracts Change in valuation of the stock option for purchase 0 0 1,137 236 of shares in Asseco Poland SA Total financial income 26,431 14,523 22,612 10,797

Financial expenses 6 months 3 months 6 months 3 months ended ended ended ended 30 June 2007 30 June 2007 30 June 2006 30 June 2006 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000

Interest expense on bank credits and current account (1,048) (335) ( 520) ( 349) credits (-) Other interest expenses (-) (2,214) (937) ( 2,909) ( 1,713) Interest on short-term commercial papers (-) (4) (4) ( 165) 90 Loss on foreign exchange differences (-) (14,468) (8,723) ( 10,105) ( 5,048) Loss on valuation of capital investments 0 0 ( 134) ( 134) Other financial expenses (-) (794) (787) ( 59) (753 Total financial expenses (at historical cost) (18,528) (10,786) ( 13,892) ( 6,401) Loss on change in fair value of embedded currency 0 0 ( 2,615) ( 191) derivatives (-) Loss on change in fair value of currency derivatives (4,582) 1,350 ( 6,418) ( 3,739) - forward contracts (-) Total financial expenses (23,110) (9,436) ( 22,925) ( 10,331)

26 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

3. Financial income and expenses (continued)

In Q2 2007, just as in the analogous period of 2006, the Group held a number of concluded forward contracts for purchase or sale of EUR and USD. In Q2 2007 the valuation of forward contracts decreased the Group's financial expenses by the amount of PLN 1,350 thousand. Whereas, in Q2 2006 the valuation of forward contracts increased the financial expenses by the amount of PLN 3,739 thousand.

As in the corresponding period of prior year, also in Q2 2007 the Group held a number of embedded derivatives under the concluded trade agreements denominated in EUR or USD. In the period reported, the valuation of embedded derivatives decreased the Group’s financial income by the amount of PLN 220 thousand. In Q2 2006 the valuation of embedded derivatives increased the Group’s financial income by the amount of PLN 5,602 thousand, and concurrently it increased the financial expenses by PLN 191 thousand.

27 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

4. Consolidation goodwill

31 December 30 June 2007 2006 PLN ‘000 PLN ‘000

Book value of goodwill from consolidation Asseco Poland – the acquired company 953,894 0 Asseco Czech Republic, a.s. 47,368 0 Gladstone Consulting Ltd 49,025 49,888 Asseco Systems Sp. z o.o. 14,224 14,224 Asseco Slovakia Group 43,408 0 Asseco Business Solutions SA 6,020 6,962 Asseco Business Solutions (Safo, Softlab, Softlab Trade, Wapro) 79,910 0 Sawan Grupa Softbank SA 2,714 2,714 ZUI Novum Sp. z o.o 262 262 FIBA Software s.r.l. 27,204 0 Net Consulting s.r.l. 33,251 0

Total book value 1,257,280 74,050

In January 2007 the Company merged with the company Asseco Poland SA and acquired a non-cash contribution comprising the shares in Asseco Czech Republic a.s. (former PVT a.s.) and an organized part of the Prokom Software SA enterprise operating as the Building Automation Department.

Merger with Asseco Poland SA

The merger with the Asseco Group was executed on 4 January 2007, as further explained in section "Merger with Asseco Poland SA and issuance of shares". Under the merger transaction, the shareholders of the acquired company received 17,735,815 shares of the Issuer. Fair value of the issuance amounted to PLN 975,470 thousand and was calculated based on the Issuer's stock quote of 4 January 2007, which was PLN 55 per share.

The Issuer purchased shares of the acquired company in the years 2004 and 2005, hence, as at 4 January 2007, it already held a 21.92% stake in acquired company's share capital. Therefore, the transaction shall be accounted for as a gradual merger of business entities. Asseco Poland SA (former Softbank SA) purchased the shares in the acquired company successively: • on 30 September 2004 – 17.54% stake, • on 31 December 2005 – additional 4.38% stake, and • on 4 January 2007, when the companies merged.

The goodwill arising from the merger with Asseco Poland SA (the acquired company), as disclosed in the consolidated financial statements, amounted to PLN 953,894 thousand. The fair value of net assets acquired, measured as at 4 January 2007, amounted to PLN 190,644 thousand, whereas the acquisition price was PLN 1,076,716 thousand, and the direct purchase related expenses amounted to PLN 15,598 thousand.

28 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

4. Consolidation goodwill (continued)

Assessment of the financial effects of the merger with Asseco Group was based on the preliminarily estimated values of identifiable assets, liabilities and contingent liabilities. Final determination of their fair values shall be carried out till the end of 2007, hence the disclosed goodwill may be subject to change.

Acquisition of shares in Asseco Czech Republic a.s. (former PVT a.s.)

On 1 January 2007 the Issuer acquired a non-cash contribution in the form of 100% equity interest in Asseco Czech Republic a.s. (former PVT a.s.) based in the Czech Republic, as further described in section "Merger with Asseco Poland SA and issuance of shares" of these consolidated financial statements. In return for this contribution, the Company assigned 2,140,000 shares with the issuance price of PLN 37.70 per share, making up the total issuance fair value of PLN 80,678 thousand, whereas expenses related directly to the acquisition of Asseco Czech Republic a.s. (former PVT a.s.) amounted to PLN 300 thousand.

The goodwill arising from acquisition of Asseco Czech Republic a.s. amounted to PLN 55,708 thousand.

On 26 April 2007, the Issuer sold a 25% equity stake in Asseco Czech Republic a.s. to Asseco Slovakia a.s. (a subsidiary company). As a result of this transaction, the goodwill arising from acquisition of Asseco Czech Republic decreased by the amount of PLN 8,340 thousand.

The goodwill arising from the purchase of Asseco Czech Republic a.s. amounted to PLN 47,368 thousand and it was recognized based on the estimated values of identifiable assets, liabilities and contingent liabilities.

Final determination of their fair values shall be carried out till the end of 2007, hence the disclosed goodwill may be subject to change.

Acquisition of Datalock, a.s.

On 8 January 2007, Asseco Slovakia SA signed an agreement for acquisition of 51.04% shares of the company Datalock, a.s. On 15 March 2007, the Slovak Antitrust Office gave its permission to effect this transaction.

The goodwill arising from the purchase of shares in Datalock a.s. amounted to PLN 12,816 thousand and it was recognized based on the estimated values of identifiable assets, liabilities and contingent liabilities. Final determination of their fair values shall be carried out till the end of 2007, hence the disclosed goodwill may be subject to change.

The total cost of acquisition of shares will range between PLN 14,050 thousand and PLN 16,298 thousand, depending upon the amount of net profit achieved by Datalock, a.s. for the years 2006 and 2007.

Merger of companies Asseco Business Solutions, Softlab, Softlab Trade, Wa-Pro and acquisition of Safo

On 28 March 2007, Asseco Business Solutions SA (former Incenti SA) purchased 540 shares in the Lublin-based company Safo Sp. z o.o., representing 28.30% of share capital of Safo Sp. z o.o., for the total price of PLN 17,182 thousand, and therefore it became a major investor in that undertaking.

29 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

4. Consolidation goodwill (continued)

On 1 June 2007 the companies of Asseco Business Solutions, Softlab, Softlab Trade, Wa-Pro and Safo merged. The taking-over company was Asseco Business Solutions (ABS). As a consequence of this merger the parent company’s interest in share capital of ABS dropped from 100% to 67%.

The table below presents changes in the parent company’s share in net assets of the combined companies as at the merger date. Name of company The parent company’s The parent company’s Value of the share Value of the share interest in share capital interest in share capital in net assets in net assets before the merger after the merger before the merger after the merger % % PLN ‘000 PLN ‘000 Asseco Business Solutions 100.00% 45,240 Softlab 96.23% 1,435 Softlab Trade 96.07% 67.47% 2,638 70,167 Wa-Pro 70.00% 2,388 Safo 28.30% 2,181

53,883 70,167

Acquisition of LCS International a.s.

On 4 May 2007, Asseco Slovakia a.s. concluded an agreement for acquisition of a 55.03% stake of shares in LCS International a.s. The total value of this transaction amounted to PLN 16,182 thousand.

The goodwill arising from the purchase of shares in LCS International a.s. amounted to PLN 5,694 thousand and it was recognized based on the estimated values of identifiable assets, liabilities and contingent liabilities. Final determination of their fair values shall be carried out till the end of 2007, hence the disclosed goodwill may be subject to change.

Additionally the company concluded stock option agreements for purchase of the remaining 44.97% shares to be paid up with shares in Asseco Czech Republic, a.s., in the period between 31 October 2007 and 30 November 2007, according to the following exchange parity: shares representing 44.97% of share capital of LCS International, a.s. as at the Agreement date may be exchanged for shares representing 8% of share capital of Asseco Czech Republic, a.s. as at the Agreement date. In the event the shareholders of LCS International, a.s. decide not to exchange the shares, the stock option agreements entitle those shareholders to submit to Asseco Slovakia a.s., in the period between 1 March 2008 and 30 June 2008, an offer for sale to Asseco Slovakia a.s. of the shares in LCS International, a.s. that are held by those shareholders. If such an offer is submitted, Asseco Slovakia, a.s. shall be obliged to purchase those shares at the price equivalent to the per-share price Asseco Slovakia, a.s. paid for the stake of 55.03% of share capital of LCS International a.s.

Establishing of Asseco Romania SA and acquisition of FIBA Software S.R.L. and Net Consulting S.R.L.

Asseco Romania SA was established on 17 April 2007. Asseco Poland SA acquired a stake of 4,650,000 shares in Asseco Romania SA with a par value of PLN 0.10 each, representing 93% of share capital of Asseco Romania SA as well as 93% of total vote at the General Meeting of Shareholders of that company. The Company paid PLN 465 thousand in cash for the acquired shares. The remaining shareholders of Asseco Romania SA became the key staff of Asseco Poland SA, inclusive of members of the Company's management.

On 26 April 2007, Asseco Romania SA concluded agreements for acquisition of shares in the companies of FIBa Software S.R.L. and Net Consulting S.R.L., both seated in Romania.

30 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

4. Consolidation goodwill (continued)

The company purchased 70 shares in FIBa Software S.R.L., based in Bucharest, representing 70% of share capital of that company. The cost of this acquisition was PLN 23,339 thousand. The goodwill arising from the purchase of shares in FIBa amounted to PLN 22,906 thousand and it was recognized based on the estimated values of identifiable assets, liabilities and contingent liabilities. Final determination of their fair values shall be carried out till the end of 2007, hence the disclosed goodwill may be subject to change.

Subsequently, the company acquired 700 shares in Net Consulting S.R.L., based in Bucharest, representing 70% of share capital of that company. The cost of this acquisition was PLN 38,234 thousand. The goodwill arising from the purchase of shares in Net Consulting amounted to PLN 32,986 thousand and it was recognized based on the estimated values of identifiable assets, liabilities and contingent liabilities. Final determination of their fair values shall be carried out till the end of 2007, hence the disclosed goodwill may be subject to change.

Acquisition of ADH Soft Sp. z o.o.

On 28 May 2007, the Issuer acquired 55 shares in the Warsaw-based company ADH-Soft Sp. z o.o. The shares represent 55% of share capital and the same voting interest at the General Meeting of that company. Acquisition of shares in ADH Soft cost PLN 3,333 thousand.

The goodwill arising from the purchase of shares in ADH Soft Sp. z o.o. amounted to PLN 3,852 thousand and it was recognized based on the estimated values of identifiable assets, liabilities and contingent liabilities. Final determination of their fair values shall be carried out till the end of 2007, hence the disclosed goodwill may be subject to change.

Acquisition of Berit a.s.

On 19 June 2007, Asseco Slovakia purchased 55.43% of shares in Berit a.s. The acquisition price will be determined between PLN 10,704 thousand and PLN 19,736 thousand, depending upon the amount of net profit achieved by Berit in the years 2006-2008.

As at the date of publication of these consolidated financial statements, the Group has not yet determined the goodwill arising from the acquisition of shares in Berit.

Additionally, owners of the remaining shares (44.57%) shall be entitled, in the period from 16 October 2008 to 31 October 2008, to exchange their stake of shares for 10% of shares in Asseco Czech, or to sell those shares at the price equivalent to the per-share price Asseco Slovakia paid for the 55.43% stake of shares of Berit.

Acquisition of MPI Slovakia s.r.o.

On 6 July 2007, Asseco Slovakia purchased 51% of shares in MPI Slovakia s.r.o. The total price of this acquisition will range between PLN 1,115 thousand and PLN 2,230 thousand, depending upon the amount of net profit achieved by MPI Slovakia for the year 2007.

As at the date of publication of these consolidated financial statements, the Group has not yet determined the goodwill arising from the acquisition of shares in MPI Slovakia.

31 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

5. Financial assets held to maturity

Short-term financial assets held to maturity

31 December 30 June 2007 2006 PLN ‘000 PLN ‘000

In unrelated companies Bonds 27,058 34,313

Short-term corporate bonds and Treasury bonds characterized by high liquidity are an alternative to bank deposits when it comes to investing spare cash.

The above-mentioned securities are valued using the amortized cost method.

32 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

6. Financial assets carried at fair value

Long-term financial assets carried at fair value 31 December 30 June 2007 2006 PLN ‘000 PLN ‘000

Long-term financial assets 787 917

Treasury bonds 288 298 Financial instruments embedded in trade contracts 499 499 Other 0 120

Short-term financial assets carried at fair value 31 December 30 June 2007 2006 PLN ‘000 PLN ‘000

Short-term financial assets 65,560 84,080

Treasury bonds 520 509 Forward contracts for purchase of EUR and USD 64,494 69,077 Financial instruments embedded in trade contracts 494 388 Call option for purchase of Asseco Poland SA shares 0 14,106 Other 52 0

As at 30 June 2007, the Parent Company held a number of concluded forward transactions for purchase and sale of foreign currencies – EUR and USD. These instruments are valued at fair value at each balance sheet date. The valuation of the aforementioned assets as at 30 June 2007 equalled PLN 64,494 thousand. Whereas, as at 31 December 2006 the valuation of concluded forward transactions amounted to PLN 69,077 thousand.

As at 30 June 2007 the short- and long-term Treasury bonds served as security for bank guarantees (of due performance of contracts and tender deposits) up to the amount of PLN 808 thousand. Likewise, as at 31 December 2006 the short- and long-term Treasury bonds served as security for bank guarantees (of due performance of contracts and tender deposits) up to the amount of PLN 807 thousand.

33 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

7. Long-term and current financial liabilities

Long-term financial liabilities

31 December 30 June 2007 2006 PLN ‘000 PLN ‘000

Financial instruments embedded in trade contracts 71,829 80,236 Liabilities due to acquisition of shares in Gladstone Consulting Ltd 22,462 22,949 Finance lease commitments 1,610 0 95,901 103,185

Current financial liabilities

31 December 30 June 2007 2006 PLN ‘000 PLN ‘000

Financial instruments embedded in trade contracts 37,115 32,236 Liability due to dividend payment 4,380 0 Finance lease commitments 1,592 0 Other 97 0 43,184 32,236

As at 30 June 2007, the Group held a number of embedded financial derivatives. They resulted chiefly from the denomination of payments under the concluded trade agreements in EUR or USD. As at 30 June 2007, the liabilities due to embedded currency derivatives amounted to PLN 108,944 thousand, whereas the assets equalled PLN 993 thousand. As at 31 December 2006, the derivative related liabilities amounted to PLN 112,472 thousand, while the assets equalled PLN 887 thousand.

34 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

8. Short-term interest-bearing bank credits and debt securities issued 31 Maximum debt Maximum debt Effective interest December Short-term Name of company as at 30 June 2007 as at 31 Dec. 2006 rate % Date of maturity 30 June 2007 2006 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 Current account credit ING Bank Śląski SA 10000 10000 WIBOR 1M + margin not specified 0 0 Current account credit PKO BP SA (1 70000 70000 WIBOR 1M + margin 2007-07-31 0 0 Current account credit BPH SA (1 0 50000 WIBOR 1M + margin 2009-11-30 0 2446 Current account credit Bank DnB Nord Polska SA (2 0 0 WIBOR 1M + margin 2007-05-31 0 0 Current account credit Raiffeisen Bank Polska SA 10000 10000 WIBOR 1M + margin 2007-10-31 0 0 Current account credit Deutsche Bank 10000 0 WIBOR 3M + margin 2007-12-12 0 0 Current account credit Bank Millennium 5000 5000 WIBOR 1M + margin 2007-04-14 8819 4710 Current account credit ČSOB 2230 0 BRIBOR + margin 2007-11-15 0 0 Current account credit Tatra banka 558 0 BRIBOR + margin 2008-01-31 0 0 Current account credit HVB Bank Czech Republic, a.s 9671 0 not specified 0 0 117,459 145,000 8,819 7,156 Other credits: Investment credit ČSOB 13952 0 EURIBOR + margin 2012-12-31 1996 0 Investment credit HVB Bank Czech Republic, a.s 37364 0 3.99-5.76% 2010-12-31 17192 0 Investment credit Deutsche Bank Polska SA 200 0 WIBOR 1M + margin 2009-11-02 28 0 Loan Tatra banka 2230 0 BRIBOR + margin 2007-03-31 0 0 TOTAL 53,746 0 19,216 0 (1) On 29 June 2007 an annex was signed, which reduced to PLN 0 the amount of credit facility extended to Prokom Investment for the period till 29 September 2007 or until the Prokom’s liabilities to the bank are paid back. According to the agreement, after the said date the credit facility of PLN 100 million shall be restored. (1a) On 29 December 2006 an annex to the credit agreement was signed, which increased the amount of credit granted by Bank BPH SA from PLN 50,000 thousand to PLN 100,000 thousand. However, until a pledge is established on shares of Asseco Slovakia a.s., the credit shall be available in the amount of PLN 50,000 thousand. (2) On 4 December 2006 an annex to the credit agreement was signed, which released the pledge on shares of Asseco Poland SA that had served as security for the credit from Bank DnB NORD Polska SA. The credit in the amount of PLN 35,000 thousand was frozen until a new security is established.

35 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

8. Short-term interest-bearing bank credits and securities issued (continued)

As at 30 June 2007, the Asseco Poland SA held open credit facilities in current accounts enabling it to raise funds of around PLN 100,000 thousand in aggregate. At the end of period reported, the Company had drawn PLN 0. As at the end of previous year, financing available under credit facilities was PLN 150 thousand, and the liabilities thereunder stood at PLN 0.

Maximum debt 31 as at Maximum debt Effective interest Date of December Long-term Name of company 30 June 2007 as at 31 Dec. 2006 rate % maturity 30 June 2007 2006 Other credits: PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 Investment credit Deutsche Bank Polska SA 200 0 WIBOR 1M + margin 2009-11-02 123 0 Investment credit ČSOB 13,952 0 EURIBOR + margin 2012-12-31 8,982 0 TOTAL 14,152 0 9,105 0

As at 31 March 2007, the Asseco Group’s total debt under credits contracted and debt securities issued aggregated at PLN 38,287 thousand, and they increased from the level of PLN 7,186 thousand reported at 31 December 2006. Such higher debt, as compared with the end of 2006, resulted basically from enlargement of the Group by incorporation of the Asseco Poland SA (the acquired company) in 2007. Both in the period reported and in 2005, the margins realized by the lenders to the Asseco Group ranged from 1% to 6%. As at 31 March 2007, tangible fixed assets with the book value of PLN 15,171 thousand served as security for the contracted bank credits, under which no liabilities were outstanding as at 31 March 2007. As at 31 December 2006, tangible fixed assets with the book value of PLN 7,829 thousand served as security for the contracted bank credits. Liabilities by virtue of those credits as at 31 December 2006 amounted to PLN 2,446 thousand. As at 31 March 2007, intangible assets with the book value of PLN 8,877 thousand served as security for the contracted bank credits, under which no liabilities were outstanding as at 31 March 2007. As at 31 March 2007, shares in subsidiary companies with the total book value of PLN 12,695 thousand served as security for the contracted bank credits, under which the liabilities amounted to PLN 11,804 thousand as at 31 March 2007. As at 31 March 2007, investments in other companies with the total book value of PLN 1,080 thousand served as security for the contracted bank credits, under which no liabilities were outstanding as at 31 March 2007.

36 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

8. Short-term interest-bearing bank credits and securities issued (continued)

Bonds convertible to shares

On 3 July 2000, Asseco Poland SA concluded agreements for acquisition of shares in companies Multinet SA, Pik-Net Sp. z o.o. and Polbox Sp. z o.o., under which it committed itself to provide an incentive program for the managerial staff of those companies. The incentive program assumed issuing 32,748 bonds convertible to shares and it was subject to achieving the specified target results by those companies. The expected results were not achieved. With regard to the above, the bonds convertible to shares have not been and will not be given out to the managerial staff of Multinet SA, Pik-Net Sp. z o.o. and Polbox Sp. z o.o.

According to the said agreement for acquisition of shares in those undertakings, in such event half of the bonds convertible to shares, this is 16,374 bonds, shall be transferred to the entities which sold those undertakings on the day when the motivational program expires.

The purchase price of shares in the above undertakings, as disclosed by the Group, corresponded to the fair value of convertible bonds transferred in return.

In November 2005, the Management Board of Asseco Poland SA made a decision to award 16,374 convertible bonds to selected employees of Asseco Poland SA. The awarding rules and incentive program criteria were established in March 2006 and they include job seniority, opinion of immediate superiors, level of competence and qualifications. The bonds were awarded in October 2006 and they were accounted for at their fair value of PLN 606 thousand as salaries expense in the first half of 2006.

In the first half of 2007 those bonds were converted to shares.

37 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

9. Transactions with related companies

Asseco Group sales to related companies Asseco Group purchases from related companies in the period of: in the period of: Name of company 6 months ended 3 months ended 6 months ended 3 months ended 6 months ended 3 months ended 6 months ended 3 months ended 30 June 2007 30 June 2007 30 June 2006 30 June 2006 30 June 2007 30 June 2007 30 June 2006 30 June 2006 PLN '000 PLN '000 PLN '000 PLN '000 PLN '000 PLN '000 PLN '000 PLN '000 Transactions with associated companies Asseco Poland SA (1 n/a n/a 5,157 5,152 218 218 Comp Soft Sp. z o.o. (2 n/a n/a 7 4 0 0 Prvni Certifikacni Autorita, a.s. (3 382 204 23 (24) Transactions with the Parent Company Prokom Software SA 14,526 10,599 9,651 4,229 4,949 1,661 1,840 1,128 Transactions with related companies of Prokom

Software SA Prokom Investments SA (4 112 (23) 271 145 Transactions with subsidiary companies of

Prokom Software SA ABG - Ster Projekt SA 190 190 941.00 95 227 227 Combidata Poland Sp. z .o.o. 292 287 81 81 1 71 69 Safe Computing Sp. z o.o. Spin SA 31 31 5 5 29 19 9 4 SK Galkom 253 124 WiedzaNet Sp. z o.o. 77 23 1,080 378 Transactions with associated companies of

Prokom Software SA Comp SA 14 14 0 0 1151 624 3,990 3,332 Enigma Systemy Ochrony Informacji Sp. z o.o. 0 0 2 2 0 0 Pacomp 0 0 Postdata SA 9 5 3 1 0 0 Total transactions with related companies 15,507 11,264 15,171 9,685 7,208 2,355 7,706 5,501 (1) Asseco Poland SA has become an associated company since 11 December 2005. On 4 January 2007 the companies of Softbank SA (the taking over company) and Asseco Poland SA (the acquired company) merged. (2) A subsidiary undertaking of Asseco Poland SA (the acquired company). This undertaking was disposed in the first half of 2006. (3) An associated of Asseco Czech Republic, a.s. In January 2007 the Company acquired (as a non-cash contribution) 100% shares in PVT, a.s. Subsequently, in Q1 2007 PVT a.s. changed its name to Asseco Czech Republic a.s. (4) Prokom Investments SA is a minority shareholder in Prokom Software SA.

38 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

9. Transactions with related companies (continued)

Softbank Group receivables as at: Softbank Group liabilities as at: 31 December 31 December Name of company 30 June 2007 2006 30 June 2007 2006 PLN '000 PLN '000 PLN '000 PLN '000 Transactions with associated companies Asseco Poland SA (1) n/a 0 n/a 13 Comp Soft Sp. z o.o. .(1) n/a 0 n/a 0 D.Trust Certifikacna Autorita, a.s. 102 n/a 0 n/a Prvni Certifikacni Autorita, a.s. 50 n/a 26 n/a Transactions with the Parent Company Prokom Software SA 12,966 5,100 507 581 Transactions with related companies of Prokom Software SA Prokom Investments SA (2) 0 4,500 92 76 Transactions with subsidiary companies of Prokom Software SA ABG - Ster Projekt SA 0 59 0 162 Combidata Poland Sp. z .o.o. 348 308 0 23 Optix Polska Sp. z o.o. Safe Computing Sp. z o.o 0 0 0 488 Spin SA 0 0 5 0 SK Galkom 7 46 8 1 WiedzaNet Sp. z o.o. 1,938 Transactions with associated companies of Prokom Software SA Enigma Systemy Ochrony Informacji Sp. z o.o. 0 0 2 0 Comp SA 0 0 9,304 9,502 Total transactions with related companies 13,473 10,013 9,944 12,784 (1) Asseco Poland SA has become an associated company since 11 December 2005. (2) Prokom Investments SA is a minority shareholder in Prokom Software SA. Receivables from Prokom Investments SA have resulted from sale of the company Mediabank SA.

The above presented transactions with the related companies were executed at arm's length and were carried out as part of the statutory business activities of particular companies of the Asseco Group.

39 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

10. Related companies

The table below presents the Asseco Group structure along with equity interests and voting interests at the general meetings of shareholders/partners.

Country of % of total votes % of share capital registration at the GMS as at held as at

31 31 December Subsidiary companies 30 June 2007 30 June 2007 December 2006 2006

Asseco Business Solutions SA (1 Poland 67.47% 100% 67.47% 100% Asseco Czech Republic a.s. (2 Czech Republic 85.38% n/a 85.38% n/a Asseco Romania SA Poland 93% n/a 93% n/a Asseco Systems Sp. z o.o. (3 Poland 100% 100% 100% 100% Asseco Slovakia a.s. Slovakia 41.67% n/a 41.67% n/a Datalock a.s. (4 Slovakia 21% n/a 21% n/a Slovanet a.s. (4 Slovakia 21.25% n/a 21.25% n/a LCS International a.s. (4 Czech Republic 28.06% n/a 28.06% n/a BERIT a.s. (4 Czech Republic 23.09% n/a 23.09% n/a Gladstone Consulting Limited (5 Cyprus 51% 51% 51% 51% Koma Nord Sp. z o.o. (6 Poland 100% 100% 100% 100% bezpieczeństwo.pl Sp. z o.o. Poland 100% 100% 100% 100% ZUI Novum Sp. z o.o. Poland 51% 51% 51% 51% ADH Soft Sp. z o.o. Poland 55% n/a 55% n/a NetPower SA Poland 100% 100% 100% 100% FIBA Software S.r.l. Romania 65.10% n/a 65.10% n/a Net Consulting S.r.l. Romania 65.10% n/a 65.10% n/a Sawan Grupa Softbank SA Poland 100% 100% 100% 100% Bielpolsoft j.v. Belarus 85% 85% 85% 85%

Jointly controlled companies Soft Technologies (7 Kazakhstan 45% 45% 45% 45%

Associated companies D.Trust Certifikacna Autorita, a.s. (8 Czech Republic 45% n/a 45% n/a Prvni Certifikacni Autorita, a.s. (8 Czech Republic 23% n/a 23% n/a

(1) On 1 June 2007 Asseco Business Solutions merged with the companies of Safo, Softlab, Softlab Trade and Wa-Pro. (2) On 24 April 2007 Asseco Poland sold 329 registered shares of Asseco Czech Republic, a.s. to Asseco Slovakia. Disposed shares represented 25.06% of share capital of Asseco Czech Republic, a.s. 3) On 4 June 2007 Softbank Serwis Sp. z o.o. changed of its name to Asseco Systems Sp. z o.o. (4) Stake of shares held indirectly through Asseco Slovakia a.s. (5) Despite Asseco Poland SA formally owns 51% in share capital of Gladstone, the Company consolidates 100% of this undertaking financial results. (6) Stake of shares held indirectly through Asseco Systems Sp. z o.o. (7) An undertaking controlled jointly with Asseco Systems Sp. z o.o. In 2005 the company lost its ability to influence this undertaking in any way. (8) An associated company of Asseco Czech Republic a.s.

40 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

10. Related companies (continued)

Changes in the structure of Asseco Group

Sale of shares in Asseco Czech Republic, a.s. On 24 April 2007 Asseco Poland signed an agreement for sale of 329 registered shares of Asseco Czech Republic, a.s. seated in Prague, to Asseco Slovakia. The sold shares represent 25.06% of share capital of Asseco Czech Republic, a.s. The transaction of purchasing the 25.06% stake of shares in Asseco Czech Republic, a.s. by Asseco Slovakia, a.s. resulted from the development strategy adopted by the Asseco Group, under which Asseco Slovakia, a.s. is responsible for expansion in Slovakia, Czech Republic and Hungary. This is just the first stage of the Asseco Slovakia, a.s. task to build a strong Czech pillar of the Group, which shall be joined by another 2 or 3 IT companies engaged in integration services, production of ERP systems as well as passporting systems. This way Asseco Czech Republic, a.s. will become one of the largest information technology companies in the country. /Current report no. 32/2007 of 26 April 2007/

Acquisition of shares in the newly established Asseco Romania SA On 19 April 2007, the Company received a decision of the District Court in Rzeszów, XII Commercial Department of the National Court Register, on registration of the company Asseco Romania SA, seated in Rzeszów, under the number KRS 0000278721, on 17 April 2007. The share capital of the newly established undertaking amounts to PLN 500,000 and is divided into 5,000,000 ordinary shares with a par value of PLN 0.10 each. Asseco Poland SA acquired a stake of 4,650,000 shares in Asseco Romania SA with a par value of PLN 0.10 each, representing 93% of share capital of Asseco Romania SA as well as 93% of total vote at the general meeting of shareholders of that company. For the acquired shares the Company made a cash contribution of PLN 465,000. The remaining shareholders of Asseco Romania SA became the key staff of Asseco Poland SA, inclusive of members of the Company's management. The scope of business activities of Asseco Romania SA shall be capital investments in IT companies as well as provision of IT services in Romania. /Current report no. 26/2007 of 19 April 2007/

Purchase of shares in the Romanian companies: FIBa Software and Net Consulting On 7 May 2007, the Company was notified by its subsidiary Asseco Romania about signing the agreements for acquisition of shares in two information technology companies of Romania. For the total amount of EUR 5,849,210.35, Asseco Romania SA purchased 70 shares of FIBa Software S.R.L., based in Bucharest, representing 70.00% of share capital of that company. The book value of FIBa Software S.R.L. in the accounting books of Asseco Romania SA will amount to approx. EUR 6,127,217.35. The shares in FIBA Software S.R.L. were acquired from its four shareholders, namely Ansua Consulting Limited, Grigore-Remus Dorabantu, Catalin-Radu Georgian, and Adriana-Gratziela Bailescu.

41 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

10. Related companies (continued)

FIBa Software S.R.L. is the largest Romanian provider of IT solutions for the banking sector. The company's technological partners are such world leaders as Oracle, HP, Microsoft, and Fujitsu- Siemens. The company has a broad portfolio of proprietary solutions dedicated to the banking industry, including the transaction and credit management systems, CRM systems, payment card transaction system, and many others. Among the clients of FIBa Software S.R.L. are: the Central Bank of Romania, BRD Societe Generale, Raiffeisenbank, ABN Amro, Citibank, HVB Bank, to mention a few. Revenues from sales of proprietary software and own services account for 80% of total turnover of FIBa Software S.R.L., thanks to which the company achieves a high profitability of sales. In 2006 the company generated EUR 2,185 thousand of sales revenues, and a net profit of EUR 982 thousand. Last year the operating margin of FIBa Software S.R.L. reached 45%. The company employs around 20 persons. Asseco Romania SA purchased also 700 shares of Net Consulting S.R.L., based in Bucharest, representing 70.00% of share capital of that company, for the total amount of EUR 9,781,732.60. In the accounting books of Asseco Romania SA, Net Consulting S.R.L. will be carried at approx. EUR 10,025,844.60. The shares in Net Consulting S.R.L. were purchased from its three shareholders, namely Dragos Serban Stan, Ion C. Coltan, and Alexandru Visan. Net Consulting S.R.L. offers integration services and IT solutions for the financial, industrial, and public administration sectors. The company has got four main lines of business operations: Infrastructure Microsoft related projects, Business continuity, Business automation, Software development. The clients of Net Consulting S.R.L. include: in the industrial sector – Lafarge; in the banking sector – ING bank, Banc Post, Porsche Group; in the public administration sector – Ministry of Finance, Ministry of Health, Central Statistical Office, and many others. In 2006 sales revenues of Net Consulting amounted to EUR 25,325 thousand, and its net profit equalled EUR 1,751 thousand. The company employs around 100 persons. /Current report no. 35/2007 of 7 May 2007/

Acquisition of shares in ADH Soft Sp. z o.o. On 28 May 2007 the Company signed an agreement for acquisition of shares in ADH-Soft Sp. z o.o., seated in Warsaw, registered in the National Court Register under the number 0000170238. The Agreement was concluded between Asseco Poland SA and the partner in the company ADH-Soft, a natural person. Asseco Poland SA acquired 55 shares in the Warsaw-based company ADH-Soft Sp. z o.o. for the total price of PLN 3,300,000. The shares represent 55% of share capital and the same voting interest at the general meeting of that company. The book value of ADH-Soft in the accounting books of Asseco Poland SA will amount to approx. PLN 3,333,000. /Current report no. 41/2007 of 29 May 2007/

Sale of a portion of shares in Asseco Czech Republic to Asseco Slovakia On 24 April 2007, the Company signed an agreement for sale of 329 registered shares of Asseco Czech Republic, a.s. seated in Prague, registered in the Commercial Register maintained by the Municipal Court in Prague, Section B, File 8525 under the number 270 74,358, with a par value of CZK 100,000.00 each. In order to complete the sale transaction, and thereby effectively transfer the shares into the buyer's ownership, on 25 April 2007 Asseco Poland SA (the recent owner) handed the certificates of 329 registered shares subject to the sale over to Asseco Slovakia, a.s. (the buyer).

42 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

10. Related companies (continued)

The sold shares represent 25.06% of share capital of Asseco Czech Republic, a.s. The sale price of 329 shares of Asseco Czech Republic a.s. amounted to PLN 21,412,987. At present, the book value of all the shares of Asseco Czech Republic, a.s. held by Asseco Poland SA and included in its accounting books amounts to PLN 80,978,000. The buyer is Asseco Slovakia, a.s. seated in Bratislava, registered in the Commercial Register maintained by the District Court in Bratislava, Department I, File 2024/B under the number 35760419. The company Asseco Slovakia a.s. is an integrator and producer of innovative IT systems for the financial sector, enterprises and public institutions. Asseco Poland SA holds 660,000 shares of Asseco Slovakia, a.s. which represent 41.67% of share capital and total number of votes at the general meeting of shareholders of Asseco Slovakia a.s. Such equity interest gives Asseco Poland SA the right to appoint most of the members of the Supervisory Board of Asseco Slovakia a.s., as provided for in the Articles of Association of Asseco Slovakia a.s. Mr. Adam Góral, President of the Management Board of Asseco Poland SA, holds the position of Chairman of the Supervisory Board of Asseco Slovakia a.s. The transaction of purchasing the 25.06% stake of shares in Asseco Czech Republic, a.s. by Asseco Slovakia, a.s. resulted from the development strategy adopted by the Asseco Group, under which Asseco Slovakia, a.s. is responsible for expansion in Slovakia, Czech Republic and Hungary. This is just the first stage of the Asseco Slovakia, a.s. task to build a strong Czech pillar of the Group, which shall be joined by another 2 or 3 IT companies engaged in integration services, production of ERP systems as well as passporting systems. This way Asseco Czech Republic, a.s. will become one of the largest information technology companies in the country. /Current report no. 32/2007 of 26 April 2007/

Acquisition of LCS International a.s. On 4 May 2007, Asseco Slovakia SA signed an important agreement for acquisition of 55.03% shares of the company LCS International a.s. The agreement was concluded with 4 natural persons. The acquired shares constitute 55.03% of share capital and the corresponding voting interest at the general meeting of shareholders of LCS International, a.s. This transaction will be financed with own funds raised from the conducted issuance of 360,000 ordinary shares of Asseco Slovakia. Based on the agreement Asseco Slovakia a.s. undertakes to acquire 117,000 shares with a par value of CZK 50 each. The transaction value amounts to SKK 145,000,000 and it exceeds 10% of the shareholders' equity of Asseco Slovakia. The agreement shall come into effect on condition it is approved by the Antitrust Offices of Slovakia and Czech Republic. The said acquisition agreement was accompanied by stock option agreements signed (also on 4 May 2007) with the remaining shareholders of LCS International a.s. Under the acquisition agreement and stock option agreements, owners of the remaining 44.97% shares in LCS International shall be entitled to exchange their shares for shares of Asseco Czech Republic in the period between 31 October 2007 and 30 November 2007, according to the following exchange parity: shares representing 44.97% of share capital of LCS International as at the agreement signature date may be exchanged for shares representing 8% of share capital of Asseco Czech Republic as at the agreement signature date.

43 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

10. Related companies (continued)

In the event the shareholders of LCS International decide not to exchange their shares, the stock option agreements entitle those shareholders to call upon Asseco Slovakia, in the period from 1 March 2008 to 30 June 2008, to buy the shares in LCS International that are held by those shareholders. If such an offer is submitted, Asseco Slovakia shall be obliged to purchase those shares at the price equivalent to the per-share price Asseco Slovakia paid for the stake of 55.03% of share capital of LCS International. LCS International, a.s. was established in 1990 and it has been engaged in development, implementation and maintenance of IT systems dedicated to enterprises. At present LCS employs 200 persons. The company’s annual turnover is close to CZK 200 million. The company’s head office is located in Prague and it has 2 domestic and 2 foreign divisions. LCS is the largest producer of ERP systems in the Czech market and it is ranked among the TOP 100 Czech information technology companies. On 9 July 2007, Asseco Slovakia, a.s. received a decision of the Czech Antitrust Office, dated 9 July 2007, in which the Antitrust Office approved acquisition of shares in LCS International, a.s. by Asseco Slovakia, a.s. /Asseco Slovakia a.s. current reports no. 16/2007 of 4 May 2007 and no. 25/2007 of 9 July 2007/

Acquisition of shares in BERIT, a.s. On 19 June 2007, Asseco Slovakia signed an agreement for acquisition of 55.43% shares of the company BERIT a.s. The agreement was concluded with 6 natural persons. The acquired shares represent 55.43% of share capital and the same voting interest at the general meeting of shareholders of BERIT, a.s. This transaction will be financed with own funds raised from the conducted issuance of 360,000 ordinary shares of Asseco Slovakia. Based on the agreement Asseco Slovakia a.s. acquired 485 shares with a par value of CZK 100,000 each. The total cost of this acquisition will range between SKK 96,000,000 and SKK 177,000,000 (depending upon the amount of consolidated net profit achieved by BERIT a.s. for the fiscal years 2006/2007 and 2007/2008) and they will exceed 10% of the shareholders' equity of Asseco Slovakia. The agreement shall come into effect on condition it is approved by the Antitrust Offices of Slovakia and Czech Republic. Acquisition of shares in BERIT has already been approved by the Slovak Antitrust Office (on 25 July 2007). Under the acquisition agreement, owners of the remaining 44.57% shares in BERIT shall be entitled to exchange their shares for shares of Asseco Czech Republic in the period between 16 and 31 October 2008, according to the following exchange parity: shares representing 44.57% of share capital of BERIT as at the agreement signature date may be exchanged for shares representing not more than 10% of share capital of Asseco Czech Republic as at the agreement signature date. In the event the shareholders of BERIT decide not to exchange their shares, the agreement entitles those shareholders to call upon Asseco Slovakia, in the same period from 16 to 31 October 2008, to buy the shares in BERIT that are held by those shareholders. If such an offer is submitted, Asseco Slovakia shall be obliged to purchase those shares at the price equivalent to the per-share price Asseco Slovakia paid for the stake of 55.43% of share capital of BERIT. /Asseco Slovakia a.s. current reports no. 20/2007 of 6 June 2007 and no. 26/2007 of 30 July 2007/

44 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

10. Related companies (continued)

Acquisition of shares in MPI Slovakia, s.r.o. On 6 July 2007, Asseco Slovakia SA signed an important agreement for acquisition of 51% of shares in MPI Slovakia, s.r.o. seated in Bratislava. The agreement was concluded between Asseco Slovakia, a.s. and two natural persons: 25.5% of shares of MPI Slovakia, s.r.o. were purchased from Mr. Ing. Juraj Zelenay and another 25.5% of shares of MPI Slovakia, s.r.o. were purchased from Mr. Juraj Bocz, both of whom are partners in MPI Solvakia s.r.o. The share capital of the Bratislava-based MPI Slovakia, s.r.o amounts to SKK 2,000,000. The acquired stake of shares constitutes 51% of share capital and the same voting interest at the general meeting of partners of MPI Slovakia, s.r.o., which corresponds to the amount of share capital of SKK 1,020,000. The total cost of acquisition of shares will be determined between SKK 10,000,000 and SKK 20,000,000 (depending upon the amount of net profit achieved by MPI Slovakia for 2007). This acquisition will be financed with the funds raised from the conducted issuance of shares of Asseco Slovakia. MPI Slovakia was founded 8 years ago. The firm belongs to the group of small-sized enterprises conducting business activities in the local IT market. The company provides consultancy services concerning implementation of the comprehensive IT system SAP R/3. At present, the firm employs 25 persons and generates approx. SKK 35 million of sales revenues per year, with a net profit of SKK 3.5 million. Asseco Slovakia, a.s. shall become a strategic investor that is going to support the strategy of MPI Slovakia, s.r.o. in a long run perspective. /Asseco Slovakia a.s. current report no. 23/2007 of 6 July 2007/

11. Related companies (continued) The consolidated financial results of the Asseco Group in Q2 2007 comprise the results of Asseco Poland SA and the consolidated companies. Below are presented the key financial data of companies subject to consolidation in the Q2 2007 financial statements.

45 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

11. Related companies (continued)

Key financial data of companies included in the consolidated financial statements for Q2 2007*

Name of company Sales revenues Net profit (loss) % of share capital/total votes PLN ‘000 PLN ‘000 6 months 6 months 6 months ended ended 6 months ended ended Core business 30 June 2007 30 June 2006 30 June 2007 30 June 2006

Asseco Poland SA Provision of comprehensive IT solutions 187,594 132,826 48,622 12,087 Parent Company primarily to the financial and public administration sectors. www.asseco.pl Implementation and offering of e- Learning platforms, implementation of Asseco Business Solutions SA (1 competence management systems, 21,724 14,057 3,263 838 design, construction, management and 100/100 implementation of BPC and DRP, www.incenti.pl IT outsourcing.

Asseco Czech Republic, a.s. (2 Development and execution of the largest IT projects mainly for the public 65,967 n/a 4388 n/a 100/100 finance sector. www.pvt.cz

Creation of integration IT systems, payment card transaction systems, e (3, (4 Asseco Slovakia a.s. commerce solutions and call centers for 83,335 n/a 9,822 n/a the sectors of enterprises, finance and 42/42 insurance. www.asseco.sk bezpieczeństwo.pl Sp. z o.o. Construction and implementation of IT systems supporting and coordinating 0 0 (10) (8) 100/100 the activities of rescue services.

Gladstone Consulting Limited Provision of professional consulting services within IT systems for financial 12 399 11,321 4150 4,790 51/51 institutions.

Koma Nord Sp. z o.o. Supply of hardware, local and distributed 100/100 network systems, as well as software for 15,865 16,580 369 259 www.komanord.pl supporting business management.

ZUI Novum Sp. z o.o. Creation of banking applications and 51/51 provision of comprehensive IT systems 7,988 8,140 1,238 786 for cooperative banks. www.novum.pl

46 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

11. Related companies (continued)

Key financial data of companies included in the consolidated financial statements for Q2 2007* Name of company Sales revenues Net profit (loss) % of share capital/total votes PLN ‘000 PLN ‘000 6 months 6 months 6 months 6 months ended ended ended ended Core business 30 June 2007 30 June 2006 30 June 2007 30 June 2006

Sawan Grupa Softbank SA Provision of IT solutions for 100/100 management (i.e. data warehouses, 0 136 (109) (105) reporting systems, CRM systems).

Asseco Systems Sp. z o.o. Maintenance of software and hardware supplied by the Group, services based 83,618 39,591 3,343 (2,116) 100/100 on outsourcing of IT systems. www.s2.pl Softlab Sp. z o.o. (4 Production of the business management 911 n/a 244 n/a 96/96 software and implementations. www.softlab.com.pl Softlab Trade Sp. z o.o. (4 Production of the business management 3,514 n/a (251) n/a 96/96 software and implementations. www.softlab.pl

WA-PRO Sp. z o.o. (4 Software consultancy, supply and sale 1,389 n/a (21) n/a 70/70 of IT systems. www.wapro.pl FIBA Software S.R.L (6 Provision of IT solutions for the banking 3,363 n/a 1,131 n/a 65/65 sector.

(6 Net Consulting S.R.L Integration services and IT solutions for 65/65 the financial, industrial, and public 18,183 n/a 696 n/a administration sectors.

Asseco Romania SA (7 Capital investments and provision of IT 0 n/a (882) n/a 93/93 services in Romania.

ADH Soft Sp. z o.o. .(8 Development and implementation of 310 n/a (79) n/a 55/55 software for leasing companies. www.adh.com.pl *) Data before consolidation eliminations. The stakes of shares held are disclosed as at 31 March 2007. 1) In Q1 2007 the company changed its name from Incenti SA to Asseco Business Solutions SA 2) On 1 January 2007 the Company acquired (in the form of a non-cash contribution) the 100% equity interest in PVT, a.s. In Q1 2006 PVT, a.s. changed its name to Asseco Czech Republic, a.s. 3) The presented figures include the consolidated sales revenues of the Asseco Slovakia Group and the net profit attributable to Shareholders of the Parent Company of that Group. (4) On 4 January 2007, as a result of registration of the merger between Asseco Poland SA (former Softbank SA) and Asseco Poland SA (the acquired company), the Group was extended with the subsidiary undertakings of the acquired company. 5) In 2006 the company Mediabank SA was disposed, which is further described in Note 5 to the financial statements. 6) These undertakings were purchased by Asseco Romania SA (a subsidiary company) on 7 May 2007; indirect shareholding of Asseco Poland is 65%. 7) The company was registered in April 2007; it is seated in Rzeszów and in 93% owned by Asseco Poland SA. 8) The company was acquired by Asseco Poland in May 2007. The company bezpieczeństwo.pl Sp. z o.o. does not conduct any operating activities.

47 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

11. Related companies (continued)

Asseco Poland SA In Q2 2007, the company Asseco Poland SA generated PLN 90,729 thousand in sales revenues, which rose by 31% as against Q2 2006. Sales to the banking sector improved considerably (plus 75% y/y) chiefly owing to the merger of Asseco Poland SA with Softbank SA. On the other hand, sales to the public administration sector decreased 24% year on year because revenues from execution of the CEPiK project were lower than year ago. The Company almost doubled its gross profit on sales which amounted to PLN 33,485 thousand. General administrative expenses remained at a comparable level, despite the process of merger between Asseco Poland SA and Softbank SA, which indicates the merger enabled some savings in this area. In effect of operating leverage, the Company's operating profit increased from PLN 5,838 thousand to PLN 20,782 thousand. The operating margin equalled 23% thanks to highly profitable implementations of proprietary software and provision of own services, which accounted for 53% of the total turnover in Q2 2007. 3 months ended 3 months Non-consolidated financial results 6 months ended 30 June 6 months ended ended of Asseco Poland SA 30 June 2007 2007 30 June 2006 30 June 2006 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 Sales revenues, of which: 187,594 96,865 132,826 69,217 Banking and finance 159,434 72,855 96,019 46,225 Public administration 21,559 13,199 30,365 17,553 Gross profit on sales 73,857 40,372 31,512 16,078 Operating profit 46,269 25,487 11,972 5,838 Net profit 48,622 25,595 12,089 6,725 The Q2 net profit of Asseco Poland SA amounted to PLN 23,027 thousand and it increased by 242% year on year. Such remarkable improvement resulted from the high operating profit achieved, but also from a gain on financing activities that contributed PLN 8,981 thousand.

Asseco Slovakia a.s. The Slovak company Asseco Slovakia a.s. is an integrator and producer of innovative IT systems for the financial sector, enterprises and public institutions. The commercial offer of Asseco Slovakia includes, among others, information technology systems for banks and insurance companies, payment card transaction systems, e-commerce solutions, call centres, solutions for management of housing- savings schemes, as well as turnkey projects. The company's major clients are Slovenska Sporitelna, Ceska Sporitelna, Magyar Nemzeti Bank (the National Bank of Hungary), GE Capital Bank (Czech Republic), Unibanka, Allianz - Slovenská Poisťovňa (insurance company), Istrobanka (Payment Card Authorisation Centre), and CCS (Payment Card Authorisation Centre). According to the ranking carried out by the International Data Corporation (IDC), Asseco Slovakia is one of the five major players on the IT market in Slovakia. In the period reported, Asseco Slovakia entered into significant contracts with: Union zdravotná poisťovňa (Union Health Insurance Company) for provision of maintenance services and development of their IT system, Všeobecná zdravotná poisťovňa (General Health Insurance Company) for implementation of the Subledger system, with sIT Solutions (Erste Slovak Savings Bank) for conversion of the Banking system to Euro, and with Európska zdravotná poisťovňa for supply of complex information system.

48 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

11. Related companies (continued)

Slovanet a.s. Slovanet a.s., a subsidiary of Asseco Slovakia, is the largest independent telecommunications operator and internet provider in Slovakia. The Slovanet has a 20% share in the domestic market for IT telecommunication services. In addition to internet services and internet telephony, Slovanet renders VPN (virtual private networks) services. Slovanet has developed a stable and extensive customer base, which includes small and medium-sized firms, households, but also big organisations. The company’s largest clients include: Všeobecná zdravotná poisťovňa, a.s., Úrad geodézie, kartografie a katastra SR, Generálne riaditeľstvo Zboru väzenskej a justičnej stráže, TeliaSonera International Carrier Czech Republic a.s., Beset, spol. s r.o., GTS NOVERA a.s., Union zdravotná poisťovňa, a.s., COLNÉ RIADITEĽSTVO SR.

LCS International a.s. In the second quarter of 2007, the Asseco Group incorporated the company LCS International a.s. seated in Prague, whose 55.03% of shares were acquired by Asseco Slovakia. The company was established in 1990 and it has been engaged in development, implementation and maintenance of IT systems dedicated to the enterprises sector. LCS is the largest producer of ERP systems in the Czech market and it is ranked among the TOP 100 Czech information technology companies. The company employs 200 persons and its annual turnover is around CZK 200 million. The company’s head office is located in Prague and it has 2 domestic and 2 foreign divisions.

Datalock a.s. Datalock a.s., a subsidiary of Asseco Slovakia, is one of the leading providers of ERP software in the Slovak market. The company’s biggest clients are: Trenčiansky samosprávny kraj, Prešovský samosprávny kraj, Trnavský samosprávny kraj, Žilinský samosprávny kraj, Bratislavský samosprávny kraj, INCHEBA PRAHA spol. s r.o., Volkswagen finančné služby Slovensko s.r.o.

BERIT a.s. BERIT a.s., a subsidiary of Asseco Slovakia (55.43% of shares held), joined the Asseco Group in June 2007. The company was founded in 1991. The company’s business activities include provision of information technologies and relevant services concerning systems for spatial information as well as for operating management of technical infrastructure. BERIT a.s. workforce consists of 121 employees.

Asseco Czech Republic, a.s. Asseco Czech Republic (former PVT) is a leading IT company on the Czech market with a plenty of experience in execution of the largest IT projects. The company offers comprehensive IT solutions which help improve the efficiency of business processes of its clients. Asseco Czech Republic supports strategic processes of its customers by providing them with services such as integration of IT systems, outsourcing and a wide range of specialized solutions which are dedicated for particular sectors of economy or customized for particular clients. The company's offer is addressed especially to the public administration authorities and local government bodies, banks and financial institutions, but also to private companies.

49 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

11. Related companies (continued)

The company has got many prestigious clients of the following sectors: public administration, banking and finance, insurance, telecommunications, industry, public facilities, and transportation. Among the customers of Asseco Czech Republic are the largest Czech bank CSOB, mobile telephony operator T-Mobile, the Czech Ministry of Internal Affairs. In cooperation with KAPSCH of Austria, the company executes a prestigious contract for development of a system for electronic collection of road tolls in the territory of Czech Republic. On 2 April 2007, the company was notified by the District Court in Prague about registration of the change in its name from PVT a.s. to Asseco Czech Republic a.s. Sale of a portion of shares in Asseco Czech Republic to Asseco Slovakia On 24 April 2007 Asseco Poland sold 329 shares of Asseco Czech Republic, a.s. (representing 25.06% of its share capital) to Asseco Slovakia.

Asseco Romania SA Asseco Romania SA seated in Rzeszów was registered in April 2007. 93% of its share capital is owned by Asseco Poland SA. The scope of business activities of Asseco Romania SA shall be capital investments in IT companies as well as provision of IT services in Romania. On 7 May 2007, Asseco Romania SA concluded agreements for acquisition of shares in two Romanian IT companies – FIBA Software s.r.l. and Net Consulting s.r.l. This issue is discussed in more detail in the section on changes in the Asseco Group structure.

Issuance of bonds by Asseco Romania SA On 24 April 2007 Asseco Romania SA signed with the Cracow-based BPH SA Bank an agreement for a bonds issuance programme. The programme provided for an issuance of ordinary bearer bonds, dematerialized and not admitted to public trading (pursuant to art. 9 section 3 of the Bonds Act of 29 June 1995), with the total face value of PLN 100,000,000 (one hundred million zlotys). The issuance price of individual tranches of Bonds shall be equal to the face value of Bonds decreased by a discount rate that shall be each time agreed between the Management Board of Asseco Romania SA and BPH SA. The objective of the Bonds issuance was to secure funds for bridge financing of investment plans of Asseco Romania SA. Asseco Systems Sp. z o.o. On 4 June 2007, this company changed of its name from Softbank Serwis Sp. z o.o. to Asseco Systems Sp. z o.o. Asseco Systems is a comprehensive provider of technical support and maintenance services of computer hardware and IT infrastructure. Owing to the fact that Asseco Poland made a contribution of an organized part of enterprise, namely the Building Automation Department, Asseco Systems was able to reinforce and extend its competence within projects involving execution of electrical, teletechnical, and low-voltage installations as well as contracts for the Building Management Systems (BMS), this is automation systems used in modern buildings. Also as part of rearrangement of competencies and resources within the Group, this company sold to Asseco Business Solutions an organized part of its firm engaged in provision of HR modules for large enterprises. During Q2 2007 the company’s largest clients included: Ministry of National Education – school internet workshops, Polish Post – distribution and dispatch centres, supply and maintenance of hardware, Polnord – installations at KBP, Dalkia, PKO BP, ING, and Dominet Bank.

50 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

11. Related companies (continued)

Asseco Business Solutions SA On 1 June 2007, Asseco Business Solutions SA (former Incenti SA) merged with four other companies: Safo, Softlab Trade, Softlab, and WA-PRO. The legal basis for merger was a notarial deed prepared subsequently to the Extraordinary General Meeting of Shareholders held on 29 March 2007, when the plan of companies merger was signed. The next step was taken on 21 May 2007 at the Extraordinary General Meeting of Shareholders where the merger deed was executed. The company’s registered seat is Lublin. As the companies amalgamated into one organization, the share capital increased to 115,069 PLN 570.00. After completion of the merger, the Asseco Poland's shareholding in share capital of Asseco Business Solutions SA equals approx. 67.47 %.

Asseco Business Solutions operates within the Asseco Poland as the Competence Centre responsible for ERP (Enterprise Resource Planning) systems, outsourcing, and e-Learning. The organizational structure of Asseco Business Solutions is based on four Business Divisions: Incenti Business Division, Safo Business Division, Softlab Business Division, and WA-PRO Business Division. Individual divisions are responsible, in their market activities, for generating sales and development of products and services they have offered so far.

Incenti Business Division is responsible for outsourcing and e-Learning services. Business Divisions of Safo and Softlab offer ERP software, based on technology of Oracle and Microsoft respectively, intended to support management processes at large and medium-sized enterprises. Whereas, WA-PRO Business Division provides ERP systems for small and medium-sized firms. Additionally, Asseco Business Solutions continues cooperation with all the Partners of combined companies.

The company’s comprehensive offer includes: provision, customization and configuration of business applications, design and construction of IT infrastructure at the Client’s premises or in an outsourcing model, e-Learning trainings (dedicated and ready-made – available from the largest library of ready- to-use electronic trainings of the world leader SkillSoft, whose general distributor in Poland is Asseco Business Solutions), as well as supply of computer hardware and operating systems of renowned Partners. The company has at its disposal a modern Data Processing Center. Another outcome of the merger is that Asseco Business Solutions has a network of more than 500 partners all over Poland.

During the period reported Business Divisions of the merged company executed numerous contracts and agreements for miscellaneous Clients, the most important of whom were: at Incenti Division – HRB, PKP Energetyka, TP SA; at Safo Division – Forum Auto (Russia), BRW, Havo, Kopel, Tycner, Universal Auto (Russia); at Softlab Division – IMPEXMETAL, PLATON, Softbank Serwis, Polish Scientific Publishers PWN, RTV EURO AGD; at WA-PRO Division – Femmes De Beaute S.J., ZUK Stąporków SA. As part of implementation of its development strategy, Asseco Business Solutions commenced the process of introduction to public trading at the Warsaw Stock Exchange.

51 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

11. Related companies (continued)

ADH Soft Sp. z o.o. In the second quarter of 2007, the Asseco Group incorporated the company ADH Soft Sp. z o.o. seated in Warsaw. Being established in 1995, until nowadays the company became a Polish leading producer of software dedicated for companies operating in the financial services market, especially for leasing companies. The key product of ADH-Soft is LEO system – an integrated system for comprehensive handling of leasing activities. ADH-Soft provides technological support for over 70% clients operating in the leasing market, which translates into almost 1000 users. The company implemented its software in more than 60 firms of the financial services sector. Among the company's clients are DaimlerChrysler Leasing Poland, Volksbank Leasing Poland, Fortis Lease Poland, Toyota Bank Poland, Fiat Finance Poland, Kredyt Lease, BRE Leasing, and the Bank Leasing Fund.

Gladstone Consulting Ltd. In Q2 2007, Gladstone Consulting Ltd., based in Nicosia, Cyprus, focused on execution of its main contract for Pekao SA Bank. This firm provides high quality consulting services and is engaged in development and modification of the bank's central IT system.

ZUI Novum Sp. z o.o. Novum Sp. z o.o. is a producer of banking applications, integrator and supplier of comprehensive IT systems. In the period reported the company provided its proprietary IT solutions mostly to the cooperative banking sector.

Sawan Grupa Softbank SA Having sold its enterprise to Asseco Poland SA (former Softbank SA) in 2005, the company does not conduct business activities on a scale comparable with that from before the said sale. However, concluding contracts for IT consulting services is not precluded.

bezpieczeństwo.pl Sp. z o.o. and NetPower SA At present the companies do not run any business operations and their activities are limited to fulfilling statutory requirements only.

Off-balance-sheet liabilities concerning related companies

As at 30 June 2007, the guarantees and sureties issued by Asseco Poland SA as security for credits contracted by its related companies were as follows: • surety for Softbank Serwis Sp. z o.o. due to a credit facility in the current account up to the amount of PLN 15,000 thousand. As at 30 June 2007 the outstanding amount of credit was PLN 8,819 thousand.

52 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

11. Related companies (continued)

As at 31 December 2006 Asseco Poland SA (former Softbank SA) did not have any liabilities due to guarantees and sureties extended to secure credits contracted by its related companies.

As at 30 June 2007, sureties issued by Asseco Poland SA to secure other liabilities were as follows: • surety for the contract for construction of a structural network concluded between Softbank Serwis Sp. z o.o. and Tyco Sp. z o.o. on 26 February 2004. The surety value as at 30 June 2007 was estimated at PLN 6,778 thousand. • surety granted to Bank Millennium SA for liabilities of Softbank Serwis Sp. z o.o. by virtue of bank guarantees, which were extended by the bank on behalf of that company. The surety value as at 30 June 2007 was estimated at PLN 4,500 thousand. • surety issued by Asseco for promissory notes under the agreement for granting contract performance guarantees within the guarantee limit – TUiR Warta. The surety value as at 30 June 2007 was estimated at PLN 3,000 thousand.

Sureties issued by Asseco Poland SA (former Softbank SA) to secure other liabilities as at 31 December 2006 were as follows: • surety for the contract for construction of a structural network concluded between Softbank Serwis Sp. z o.o. and Tyco Sp. z o.o. on 26 February 2004. The surety value as at 31 December 2006 was estimated at PLN 6,896 thousand. • surety granted to Bank Millennium SA for liabilities of Softbank Serwis Sp. z o.o. by virtue of bank guarantees, which were extended by the bank on behalf of that company. The surety value as at 31 December 2006 was estimated at PLN 4,500 thousand.

As at 30 June 2007, guarantees and sureties issued by Asseco Slovakia a.s. were as follows: • guarantee granted to the company SNET a.s. on 26 October 2006, in order to secure payment of the acquisition price for the shares in Slovanet a.s. The surety value as at 30 June 2007 was estimated at PLN 11,160 thousand.

53 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

12. Off-balance-sheet liabilities to other companies

Within its commercial activities, the Group uses bank guarantees, letters of credit, contract performance guarantees as well as tender deposits as forms of securing its business transactions with various organisations, companies and administration entities. As at 30 June 2007, the related contingent liabilities equalled PLN 22,500 thousand, while as at 31 December 2006 they amounted to PLN 13,303 thousand. Additionally, as at 30 June 2007 and 31 December 2006, the Group was a party to a number of leasing and tenancy contracts or other contracts of similar nature, providing for the following future liabilities:

Liabilities under lease of space 30 June 2007 31 December 2006 PLN ‘000 PLN ‘000 Up to 1 year 2,973 4,105 From 1 to 5 years 9,652 11,365 Over 5 years 379 1,183 Total 13,004 16,653

Liabilities under operating lease of property, plant and equipment 30 June 2007 31 December 2006 PLN ‘000 PLN ‘000 Up to 1 year 2,652 674 From 1 to 5 years 4,004 1,182 Over 5 years 0 0 Total 6,656 1,856

In connection with the termination of employment by some employees from the Department of Risk Management Systems of Asseco Poland SA, as informed in public by the regulatory filling of 2 March 2006, the former employees took legal action for compensation. In the opinion of the Management Board of Asseco Poland SA (former Softbank SA) the above claims will be dismissed entirely.

Information on pending proceedings concerning liabilities or debts of Asseco Poland SA (former Softbank SA) or its subsidiary companies

During the period reported, no proceedings were instituted or pending before any court, arbitration authority or public administration authority, concerning any liabilities or debts of Asseco Poland SA (former Softbank SA) or its subsidiary companies, whose aggregate value would equal or exceed 10% of the Company’s equity.

54 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

13. Employment

6 months ended 6 months ended Average Group workforce in the reporting period: 30 June 2007 30 June 2006 Management Board of the Parent Company 5 5 Management Boards of the Group companies 42 10 Production departments 1,855 620 Maintenance departments 620 218 Sales departments 243 76 Administration departments 394 130 Total 3,175 1,059

The Asseco Group workforce as at 30 June 2007 31 December 2006 Management Board of the Parent Company 5 5 Management Boards of the Group companies 46 7 Production departments 2,065 597 Maintenance departments 616 233 Sales departments 260 69 Administration departments 379 130 Total 3,387 1,041

Numbers of employees in the Group companies as at 30 June 2007 31 December 2006

Asseco Poland SA 1,101 642 Asseco Slovakia a.s. 729 0 Asseco Czech Republic a.s. 641 0 Asseco Systems Sp. z o.o. 296 275 Asseco Business Solutions SA 407 77 ZUI Novum Sp. z o.o. 41 38 Koma Nord Sp. z o.o. 9 9 ADH Soft Sp. z o.o. 23 0 Asseco Romania SA 2 0 FIBA Software S.r.l. 23 0 Net Consulting S.r.l. 114 0 Gladstone Consulting Ltd. 0 0 bezpieczeństwo.pl Sp. z o.o. 0 0 Sawan Grupa Softbank SA 1 0 Total 3,387 1,041

As at 31 March 2007, the Asseco Group employed 3,091 persons.

The Group's workforce increased substantially during the second quarter of 2007. Such increase resulted from the merger with Asseco Poland SA and acquisition of non-cash contributions in the form of Asseco Czech Republic (former PVT) and the Building Automation Department, as further described in section "Merger with Asseco Poland SA and issuance of shares" herein.

The level of employment increased by 2,346 persons.

55 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

14. Capital expenditures

During the first six months of 2007, the Group incurred capital expenditures of PLN 12,068 thousand, of which PLN 8,303 thousand were spent for non-financial fixed assets.

The capital expenditures planned for the rest of 2007 shall aggregate at PLN 200 million. In Q2 2007, the Company has already acquired two 70% stakes of shares in the companies of FIBa and Net Consulting. Till the end of 2007 the Company intends to make several new acquisitions in the markets of Central and South Eastern Europe. The total amount of such investments shall reach approx. PLN 185 million and they will be financed with the Group's own funds.

In comparison, capital expenditures made in H1.2006 amounted to PLN 9,985 thousand of which PLN 4,085 thousand were spent for non-financial fixed assets.

15. Opinion on feasibility of meeting the 2006 financial forecasts published by the Management Board

The Management Board of Asseco Poland SA (former Softbank SA) did not publish any financial forecasts for 2007.

16. Factors which in the Management Board’s opinion may affect the Group’s performance till the end of this financial year

In the opinion of the Management Board of Asseco Poland SA, the Group’s current financial standing, its production potential and market position pose no threats to continued growth in 2007. However, there are numerous factors, both internal and external, which will directly or indirectly affect the Group’s financial performance in the next quarters. The external factors with a bearing on the future performance of the Asseco (former Softbank) Group include: the development of the economic situation in Poland, increased demand for IT solutions from the banking and public administration sectors, competition from other IT sector players, and exchange rate fluctuations (foremost of the US dollar and Euro). The internal factors with a bearing on the future performance of the Asseco (former Softbank) Group include: the progress of execution of the existing contracts, outcome of contract tenders and negotiations in the IT sector, development of own IT solutions, as well as restructuring processes carried out at the Group companies and acquisitions executed/planned in Central and Eastern Europe.

56 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

17. Significant events during the period reported

Operating activities

Agreement with BOŚ Bank On 26 April 2007 Asseco signed an agreement with Bank Ochrony Środowiska SA (Bank) seated in Warsaw. The subject of this agreement is to centralize the defBank Pro system currently utilized by the Bank, which shall be an intermediate stage in the process of implementing the target central IT system. According to the schedule, the project shall have been completed by the end of this year. Total net value of the contract is PLN 14,500,000 (fourteen million five hundred thousand zlotys). /Current report no. 33/2007 of 27 April 2007/

Merger of companies Asseco Business Solutions, SAFO, Softlab, Softlab Trade, and WA-PRO On 4 June 2007 the Company’s Management Board received information that on 1 June 2007 the District Court of the Capital City of Warsaw, XIII Commercial Department of the National Court Register, registered the merger of the Asseco Group companies: ASSECO Business Solutions S.A., SAFO Sp. z o.o., Softlab Sp. z o.o., Softlab Trade Sp. z o.o., and WA-PRO Sp. z o.o. The merger was executed by transferring all the assets of the acquired companies, i.e. Safo Sp. z o.o., Softlab Trade Sp. z o.o., Softlab Sp. z o.o. and WA-PRO Sp. z o.o. to the taking-over company Asseco Business Solutions SA in exchange for the Asseco Business Solutions SA shares which will be assigned to the shareholders of the acquired companies - merger pursuant to art. 492 § 1 item 1 of the Polish Commercial Companies Code. The Merger Shares shall be allocated to the shareholders of SAFO, SOFTLAB TRADE, SOFTLAB and WAPRO proportionally to their stakes of shares held in SAFO, SOFTLAB TRADE, SOFTLAB and WAPRO, respectively. The resolution on merging the companies Safo Sp. z o.o., Softlab Trade Sp. z o.o., Softlab Sp. z o.o., and WA-PRO Sp. z o.o. with Asseco Business Solutions SA was passed by the Extraordinary General Meeting of Shareholders of Asseco Business Solutions SA held on 21 May 2007. Following the merger, the acquired companies shall be dissolved without being liquidated. The share capital of Asseco Business Solutions SA amounts to PLN 115,069,570 and has been fully paid up. The company’s registered seat is Lublin. Thanks to the Merger of ABS, SAFO, SOFTLAB TRADE, SOFTLAB and WAPRO it will be possible to enhance the development strategy for the merged companies with elements, the implementation of which would not be achievable in case ABS, SAFO, SOFTLAB TRADE, SOFTLAB and WAPRO operated as separate undertakings. The essential objective of the Merger is to establish the largest company within the Polish IT industry which will provide proprietary ERP software for the enterprises sector. The concentration of capital resulted from the Merger will enable the newly established organization to further expand and increase its competitive advantages as well as to improve the quality of products and services offered. Furthermore, the merged Company will be in position to develop diversified products, enter new segments of the market, and increase its share in the segments it has operated so far. /Current report no. 42/2007 of 4 June 2007/

57 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

17. Significant events during the reporting period

Investing activities

Signing preliminary agreements concerning acquisitions in Romania and Serbia On 5 December 2006 the Company signed preliminary agreements for acquisition of shares in two IT companies seated in Bucharest, Romania. Whereas, on 27 February 2007 the Company signed preliminary agreements for purchase of shares in two Serbian companies, based in Skopje and in Belgrade. All the preliminary agreements were entered into with the shareholders of Romanian and Serbian companies. The preliminary agreements determine the schedules for further negotiations as well as initial financial conditions for conducting the transactions. The Management Board of Asseco Poland SA anticipates that the final agreement for acquisition of the Romanian companies will be concluded within 3 weeks' time of the publication of this current report, and in case of the Serbian companies signing such final acquisition agreement shall take about 3 months from today. The subject of all the preliminary agreements is purchase of shares in IT companies whose core business is production and sales of software and provision of IT services. In 2006 the aggregate sales revenues of the Romanian companies amounted to ca. EUR 27.5 million with the net profit of EUR 2.7 million, whereas the Serbian companies generated a total turnover of ca. EUR 16.1 million and reported a net profit of EUR 3.0 million. The Company delayed public notification about the preliminary acquisition agreements, because legitimate interests of Asseco Poland SA might suffer from such early disclosure, and above all it might have a negative impact on the process or outcome of negotiations on determining the final terms and conditions for such transactions. /Current report no. 25/2007 of 17 April 2007/

Acquisition of shares in the newly established Asseco Romania SA On 19 April 2007 , the Company received a decision of the District Court in Rzeszów, XII Commercial Department of the National Court Register, on registration of the company Asseco Romania SA, seated in Rzeszów, under the number KRS 0000278721, on 17 April 2007. The share capital of the newly established undertaking amounts to PLN 500,000 and is divided into 5,000,000 ordinary shares with a par value of PLN 0.10 each. Asseco Poland SA acquired a stake of 4,650,000 shares in Asseco Romania SA with a par value of PLN 0.10 each, representing 93% of share capital of Asseco Romania SA as well as 93% of total vote at the general meeting of shareholders of that company. For the acquired shares the Company paid the amount of PLN 465,000 in cash. The remaining shareholders of Asseco Romania SA became the key staff of Asseco Poland SA, inclusive of members of the Company's management.

58 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

18. Significant events during the reporting period

The Management Board of Asseco Romania SA is constituted by one person. President of the Management Board is Mr. Marek Panek, who concurrently serves as Member of the Management Board of Asseco Poland SA. The Supervisory Board of Asseco Romania SA is composed of three persons. Chairman of the Supervisory Board is Mr. Adam Góral, who also performs the function of President of the Management Board of Asseco Poland SA. Other members of the Supervisory Board of Asseco Romania SA are Mr. Przemysław Sęczkowski (also Member of the Management Board of Asseco Poland SA) and Mr. Jacek Duch (concurrently Member of the Supervisory Board of Asseco Poland SA). The scope of business activities of Asseco Romania SA shall be capital investments in IT companies as well as provision of IT services in Romania. The initial investments of Asseco Romania SA shall be purchase of shares in two IT companies seated in Bucharest, whose shareholders signed preliminary acquisition agreements with Asseco Poland SA on 5 December 2006. In 2006 the combined sales revenues of the Romanian companies, subject to the planned acquisitions, amounted to approx. EUR 27.5 million with the net profit of approx. EUR 2.7 million. Asseco Poland SA notified about concluding the above-mentioned preliminary acquisition agreements in its current report no. 25/2007 of 17 April 2007. The shares in Asseco Romania SA purchased by the Company constitute 93% of share capital of Asseco Romania SA, and as such they are deemed assets of substantial value as understood by Article 2 section 1 point 52 and section 2 of the Regulation of Minister of Finance, dated 19 October 2005, on current and periodic information to be submitted by issuers of securities. /Current report no. 26/2007 of 19 April 2007/

Sale of shares in Asseco Czech Republic, a.s. On 24 April 2007 , the Company signed an agreement for sale of 329 registered shares of Asseco Czech Republic, a.s. seated in Prague, registered in the Commercial Register maintained by the Municipal Court in Prague, Section B, File 8525 under the number 27074358, with a par value of CZK 100,000.00 each. In order to complete the sale transaction, and thereby effectively transfer the shares into the buyer's ownership, on 25 April 2007 Asseco Poland SA (the recent owner) handed the certificates of 329 registered shares subject to the sale to Asseco Slovakia, a.s. (the buyer). The sold shares represent 25.06% of share capital of Asseco Czech Republic, a.s. The sale price of 329 shares of Asseco Czech Republic a.s. amounted to PLN 21,412,987. At present, the book value of all the shares of Asseco Czech Republic, a.s. held by Asseco Poland SA and included in its accounting books amounts to PLN 80,978,000. Asseco Poland SA shall receive payment in cash within 15 days of the sale of the said securities. The buyer is Asseco Slovakia, a.s. seated in Bratislava, registered in the Commercial Register maintained by the District Court in Bratislava, Department I, File 2024/B under the number 35760419. The company Asseco Slovakia a.s. is an integrator and producer of innovative IT systems for the financial sector, enterprises and public institutions.

59 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

18. Significant events during the reporting period

Asseco Poland SA holds 660,000 shares of Asseco Slovakia, a.s. which represent 41.67% of share capital and total number of votes at the General Meeting of Shareholders of Asseco Slovakia a.s. Such equity interest gives Asseco Poland SA the right to appoint most of the members of the Supervisory Board of Asseco Slovakia a.s., as provided for in the Articles of Association of Asseco Slovakia a.s. Mr. Adam Góral, President of the Management Board of Asseco Poland SA, holds the position of Chairman of the Supervisory Board of Asseco Slovakia a.s. The transaction of purchasing the 25.06% stake of shares in Asseco Czech Republic, a.s. by Asseco Slovakia, a.s. resulted from the development strategy adopted by the Asseco Group, under which Asseco Slovakia, a.s. is responsible for expansion in Slovakia, Czech Republic and Hungary. This is just the first stage of the Asseco Slovakia, a.s. task to build a strong Czech pillar of the Group, which shall be joined by another 2 or 3 IT companies engaged in integration services, production of ERP systems as well as passporting systems. This way Asseco Czech Republic, a.s. will become one of the largest information technology companies in the country. The shares in Asseco Czech Republic, a.s. being subject of the transaction constitute 25.06% of share capital of that company, and as such they are deemed assets of substantial value as understood by art. 2 sec. 1 point 52 and sec. 2 of the Regulation of the Minister of Finance, dated 19 October 2005, on current and periodic information to be submitted by issuers of securities. /Current report no. 32/2007 of 26 April 2007/

Purchase of shares in the Romanian companies: FIBa Software and Net Consulting On 7 May 2007 , the Company was notified by its subsidiary Asseco Romania about signing the agreements for acquisition of shares in two information technology companies of Romania. For the total amount of EUR 5,849,210.35 Asseco Romania SA purchased 70 shares of FIBa Software S.R.L., based in Bucharest, representing 70% of share capital of that company. Whereas, the book value of FIBa Software S.R.L. in the accounting books of Asseco Romania SA will amount to approx. EUR 6,127,217.35. The shares in FIBA Software S.R.L. were acquired from its four shareholders, namely Ansua Consulting Limited, Grigore-Remus Dorabantu, Catalin-Radu Georgian, and Adriana-Gratziela Bailescu. FIBa Software S.R.L. is the largest Romanian provider of IT solutions for the banking sector. The company's technological partners are such world leaders as Oracle, HP, Microsoft, and Fujitsu- Siemens. The company has a broad portfolio of proprietary solutions dedicated to the banking industry, including the transaction and credit management systems, CRM systems, payment card transaction system, and many others. Among the clients of FIBa Software S.R.L. are: the Central Bank of Romania, BRD Societe Generale, Raiffeisenbank, ABN Amro, Citibank, HVB Bank, to mention a few. Revenues from sales of proprietary software and own services account for 80% of total turnover of FIBa Software S.R.L., thanks to which the company achieves a high profitability of sales. In 2006, the company generated EUR 2,185 thousand of sales revenues, and a net profit of EUR 982 thousand. Last year the operating margin of FIBa Software S.R.L. reached 45%. The company employs around 20 persons.

60 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

18 Significant events during the period reported

Asseco Romania SA purchased also 700 shares of Net Consulting S.R.L., based in Bucharest, representing 70.00% of share capital of that company, for the total amount of 9,781 EUR 732.60. Whereas, in the accounting books of Asseco Romania SA, Net Consulting S.R.L. will be carried at approx. EUR 10,025,844.60. The shares in Net Consulting S.R.L. were purchased from its three shareholders, namely Dragos Serban Stan, Ion C. Coltan, and Alexandru Visan. Net Consulting S.R.L. offers integration services and IT solutions for the financial, industrial, and public administration sectors. The company has got four main lines of business operations: Infrastructure Microsoft related projects, Business continuity, Business automation, Software development. The clients of Net Consulting S.R.L. include: in the industrial sector – Lafarge; in the banking sector – ING bank, Banc Post, Porsche Group; in the public administration sector – Ministry of Finance, Ministry of Health, Central Statistical Office, and many others. In 2006 sales revenues of Net Consulting amounted to EUR 25,325 thousand, and its net profit equalled EUR 1,751 thousand. The company employs around 100 persons. Neither Asseco Poland SA nor any members of its managing and supervisory staff have any connections with the persons selling shares in the above-mentioned companies or with the managing staff of those companies. Both the above-mentioned acquisitions were financed with funds raised from the issuance of bonds by Asseco Romania, about which the Company informed in its current report no. 31/2007 of 25 April 2007. Shares of the acquired companies constitute over 20.00% of their share capitals, hence they are deemed assets of substantial value as understood by art. 2 section 1 point 52 and section 5 of the Regulation of Minister of Finance, dated 19 October 2005, on current and periodic information to be submitted by issuers of securities. /Current report no. 35/2007 of 7 May 2007/

Asseco Poland SA acquired shares in ADH Soft Sp. z o.o. On 28 May 2007 , the Company signed an agreement for acquisition of shares in ADH-Soft Sp. z o.o., seated in Warsaw, registered in the National Court Register under the number 0000170238. The Agreement was concluded between Asseco Poland SA and the partner in the company ADH-Soft, a natural person. Asseco Poland SA acquired 55 shares in the Warsaw-based company ADH-Soft Sp. z o.o. for the total price of PLN 3,300,000. The shares represent 55% of share capital and the same voting interest at the general meeting of that company. The book value of ADH-Soft in the accounting books of Asseco Poland SA will amount to approx. PLN 3,333,000. The company ADH Soft was founded in 1995. Until nowadays it has become a Polish leading producer of software dedicated to companies operating in the financial services market, especially leasing companies. The ADH-Soft flagship product is LEO system – an integrated system for comprehensive handling of leasing activities. ADH-Soft provides technological support for over 70% clients operating in the leasing market, which translates into almost 1000 users. The company implemented its software in more than 60 firms of the financial services sector. Among the company's clients are DaimlerChrysler Leasing Poland, Volksbank Leasing Poland, Fortis Lease Poland, Toyota Bank Poland, Fiat Finance Poland, Kredyt Lease, BRE Leasing, and the Bank Leasing Fund.

61 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

18 Significant events during the period reported

The ADH-Soft financial forecast for 2007 includes sales revenues at the level of PLN 5 million with an operating profit of PLN 1 million. Neither Asseco Poland SA nor any members of its managing and supervisory staff have any connections with the person selling the shares in ADH-Soft or with that company's managing staff. The acquisition of shares was financed with own funds of Asseco Poland SA. The acquired shares constitute over 20.00% of share capital of ADH-Soft, hence they are deemed assets of substantial value as understood by art. 2 section 1 point 52 and section 5 of the Regulation of Minister of Finance, dated 19 October 2005, on current and periodic information to be submitted by issuers of securities. /Current report no. 41/2007 of 29 May 2007/

Increase of share capital of subsidiary company On 4 June 2007, the District Court in Katowice, Commercial Department entered in the National Court Register an increase of share capital of the subsidiary company Softbank Serwis Sp. z o.o. Additionally, that company’s was changed to Asseco Systems Sp. z o.o. Share capital of Asseco Systems Sp. z o.o. has been increased by PLN 500,000 up to the level of PLN 34,797,500 through issuance of 1,000 shares with a par value of PLN 500 each. At present, share capital of Asseco Systems Sp. z o.o. amounts to PLN 34,797,500 and is divided into 69,595 shares with a par value of PLN 500 each. Asseco Poland SA holds 69,595 shares of Asseco Systems Sp. z o.o. representing 100% equity interest in that company. The increase in share capital of Asseco Systems Sp. z o.o. was paid up with a non-cash contribution of an organized part of the Asseco Poland enterprise, operating as the Building Automation Department. The value of assets subject of non-cash contribution is PLN 40,339,000. /Current report no. 43/2007 of 5 June 2007/

Financing activities

Issuance of bonds by Asseco Romania SA On 24 April 2007 Asseco Romania SA, the Company's subsidiary seated in Rzeszów, signed with the bank BPH SA, seated in Cracow, an agreement for a bonds issuance programme. The programme provides for an issuance of ordinary bearer bonds, dematerialized and not admitted to public trading (pursuant to art. 9 section 3 of the Bonds Act of 29 June 1995), with the total face value of PLN 100,000,000 (one hundred million) (hereinafter referred to as the "Bonds").

62 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

18 Significant events during the period reported

Under this programme, Asseco Romania SA now issues the first tranche of 7,020 (seven thousand and twenty) Bonds of series C with a face value of PLN 10,000 each. Hence, the total face value of the issuance shall amount to PLN 70,200,000 (seventy million and two hundred thousand zlotys). The maturity period of the first tranche Bonds shall be 1 (one) year. The issued Bonds constitute an entitlement to receive cash benefits only; are discount bonds with a fixed interest rate; are unsecured; are not in any way privileged; and are not associated with kind of additional benefits. The issuance price of individual tranches of Bonds shall be equal to the face value of Bonds decreased by a discount rate that shall be each time agreed between the Management Board of Asseco Romania SA and BPH SA. The objective of the Bonds issuance is to secure funds for bridge financing of investment plans of Asseco Romania SA. The Bonds issuance agreement has been deemed of significant importance because the total value of the Bonds issuance exceeds 10% of the shareholders’ equity of Asseco Romania SA. /Current report no. 31/2007 of 25 April 2007/

Acquisition of shares in the newly established Asseco Adria SA On 18 April 2007 , the Company received a decision of the District Court in Rzeszów, XII Commercial Department of the National Court Register, on registration of the company Asseco Adria SA, seated in Rzeszów, under the number KRS 0000284571, on 11 July 2007. Share capital of the newly established undertaking amounts to PLN 500,000 and is divided into 5,000,000 shares with a par value of PLN 0.10 each. Asseco Poland SA acquired a stake of 4,650,000 shares in Asseco Adria SA with a par value of PLN 0.10 each, representing 93% of share capital of Asseco Adria SA as well as the same percentage of total vote at the general meeting of shareholders of that company. For the acquired shares the Company paid the amount of PLN 465,000 in cash. The remaining shareholders of Asseco Adria SA became the key staff of Asseco Poland SA, inclusive of members of the Company's management. The Management Board of Asseco Adria SA is constituted by one person. President of the Management Board is Mr. Piotr Jeleński, who concurrently serves as Member of the Management Board of Asseco Poland SA. The Supervisory Board of Asseco Adria SA is composed of three persons. Chairman of the Supervisory Board is Mr. Adam Góral, who also performs the function of President of the Management Board of Asseco Poland SA. Other members of the Supervisory Board of Asseco Adria SA are Mr. Jacek Duch (concurrently Member of the Supervisory Board of Asseco Poland SA) and Przemysław Sęczkowski (also Member of the Management Board of Asseco Poland SA). The scope of business activities of Asseco Adria SA shall be capital investments in IT companies as well as provision of IT services. The initial capital investments of Asseco Adria SA will be two IT companies of Serbia, seated in Skopje and Belgrade, whose shareholders signed preliminary acquisition agreements with Asseco Poland SA on 27 February 2007. In 2006 the combined sales revenues of these Serbian companies amounted to approx. EUR 16.1 million with the net profit of approx. EUR 3.0 million.

63 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP

18 Significant events during the period reported

Asseco Poland SA has already notified about concluding the above-mentioned preliminary acquisition agreements in its current report no. 25/2007 of 17 April 2007. The shares in Asseco Adria SA purchased by the Company constitute 93% of share capital of Asseco Adria SA, and as such they are deemed assets of substantial value as understood by Article 2 section 1 point 52 and section 2 of the Regulation of Minister of Finance, dated 19 October 2005, on current and periodic information to be submitted by issuers of securities. /Current report no. 45/2007 of 18 July 2007/

Annex to a substantial agreement with PKO BP Bank On 30 July 2007 there was signed Annex no. 2 (the “Annex”) to the agreement for provision and implementation of the Integrated Information System (“ZSI”) that was concluded on 18 August 2003 between PKO BP SA (the "Bank"), and Accenture Sp. z o.o., Alnova Techonologies Corporation S.L., Asseco Poland SA (the "Consortium"), as informed about by the Management Board on 18 August 2003 (current report no. 33/2003). The subject of Annex is, among other things, extension of the existing scope of work related to implementation of the Integrated Information System, which resulted from the Bank’s decision to further expand the functionality to be supported by the implemented IT system. Furnishing the ZSI system with additional functionalities was necessitated by changes of the legal regulations as well as growing business requirements of the Bank. Such modifications will also enable the Bank to execute its plans for modernization of the customer service and product offer. The Annex provides for new functionalities to cover products related to the requirements of New Capital Accord/IAS, Individual Pension Accounts (IKE), Investment Funds PKO/CS, foreign operations, insurance products, as well as for upgrading the functionality of alternative distribution channels. In consideration for execution of work specified in the Annex, the Consortium will be paid USD 11,038,042 (approx. PLN 30,522,394) net of VAT. According to the Annex, the mass implementations of ZSI will have been completed by the end of November 2008. The Annex was deemed significant as it is a continuation of the earlier significant agreement disclosed in the Company's current report no. 33/2003. During the last 12 months, as part of ongoing cooperation, Asseco Poland SA concluded with PKO BP Bank agreements for provision of IT services and products; nevertheless, the total value of those contracts does not meet the criterion of a significant agreement. /Current report no. 46/2007 of 30 July 2007/

Contracts of Asseco Slovakia Asseco Slovakia signed a significant contract for maintenance and development of an information system with Union zdravotná poisťovňa (Health Insurance Company Union) in the amount of SKK 80 million (approx. PLN 9.1 million). The current system utilized by Union zdravotná poisťovňa consists of an application program Mediform and eHIP, both developed by Asseco Slovakia. Another agreement was concluded with Ministry of Health of the Slovak Republic. The prime contractor in this case is IBM Slovakia. Asseco Slovakia, as a subcontractor, will be responsible for

64 THE ASSECO GROUP Q2 2007 All figures in PLN thousands

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS THE ASSECO GROUP defining the global policies for the common communication infrastructure with the Slovak-wide covering in the range of logistic model creation, access rights control design, definition of obligatory visual and non visual interface of separate health registers (medicaments, diagnosis, operations..) and their verification in the pilot operation.

18 Significant events during the period reported

The value of the project “Standardization of the Health Care Informatization” amounts to SKK 29 million and the project shall be executed over 9 months. Remuneration of Asseco Slovakia under this contract will be SKK 17.3 million (approx. PLN 2 million). Another project implemented for the Slovak Ministry of Health involves provision of IT solutions based on Microsoft products. Here the prime contractor is Microsoft Slovakia. Asseco Slovakia, being a subcontractor, will be paid SKK 5 million (PLN 0.6 million). The project will be executed till the end of this year. Furthermore, the company signed a substantial agreement with a health care institution, namely Európska zdravotná poisťovňa (European Health Insurance Company). The contract for delivery of Corporate Document Management system and chosen back office processes is in the amount of SKK 5.4 million (PLN 0.6 million) and should last 8 months. The company’s role in this project is to deliver a complex information system for the Corporate Document Management and part of an electronic archive.

19. Significant events related to prior years

Until the date of preparing these condensed consolidated financial statements for Q1 2007, this is till 10 May 2007, there occurred no significant events related to prior years which would not, but should be included in the accounting books.

65

ASSECO POLAND SA

SUPPLEMENTARY INFORMATION TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF THE ASSECO GROUP

FOR THE 2 ND QUARTER OF 2007

KEY FINANCIAL DATA FROM THE NON-CONSOLIDATED FINANCIAL STATEMENTS OF ASSECO POLAND SA

66 ASSECO POLAND SA Q2 2007 All figures in PLN thousands

KEY FINANCIAL INFORMATION FROM THE FINANCIAL STATEMENTS ASSECO POLAND SA

FINANCIAL HIGHLIGHTS OF ASSECO POLAND SA

PLN '000 EUR ‘000 6 months ended 6 months ended 6 months ended 6 months ended 30 June 2007 30 June 2006 30 June 2007 30 June 2006 I. Sales revenues 187,594 132,826 48,743 34,056 II. Operating profit 46,269 11,972 12,022 3,070 III. Pre-tax profit 58,209 12,183 15,125 3,124 IV. Profit (loss) for the period reported 48,622 12,087 12,634 3,099 V. Net cash provided by operating activities 99,135 4,927 25,759 1,263 VI. Net cash provided by (used in) investing activities (42,811) 10,959 (11,124) 2810 VII. Net cash provided by (used in) financing activities (9,780) ( 18,132) (2,541) ( 4,649) VIII. Cash and cash equivalents at the end of period 72,607 20,269 19,281 5,013 IX. Earnings per ordinary share (in PLN / EUR) 1.05 0.48 0.27 0.12 Diluted earnings per ordinary share (in PLN / 1.05 0.48 0.27 0.12 X. EUR)

The financial highlights disclosed in these financial statements were translated into Euro in the following way:
the profit and loss account and cash flow statement items were translated into Euro at the arithmetic average of mid exchange rates as published by the National Bank of Poland and in effect on the last day of each month in a given quarter. The rates were as follows:
for the period from 1 January 2007 to 30 June 2007: EUR 1 = PLN 3.8486
for the period from 1 January 2006 to 30 June 2006: EUR 1 = PLN 3.9002
the Company’s cash and cash equivalents as at the end of period reported and the corresponding period of the prior year were translated into Euro at the mid exchange rates as published by the National Bank of Poland on 30 June 2007 and 30 June 2006. The rates were as follows:
exchange rate effective on 30 June 2007: EUR 1 = PLN 3.7658
exchange rate effective on 30 June 2006: EUR 1 = PLN 4.0434

67 ASSECO POLAND SA Q2 2007 All figures in PLN thousands

KEY FINANCIAL INFORMATION FROM THE FINANCIAL STATEMENTS ASSECO POLAND SA

CONDENSED PROFIT AND LOSS ACCOUNT ASSECO POLAND SA

6 months 3 months 6 months 3 months ended ended ended ended 30 June 2007 30 June 2007 30 June 2006 30 June 2006 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 Operating activities Sales revenues 187,594 96,865 132,826 69,217

Cost of sales (113,737) (56,493) (101,314) ( 53,139)

Gross profit on sales 73,857 40,372 31,512 16,078

Selling expenses (-) (11,286) (6,044) ( 3,443) ( 1,686) General administrative expenses (-) (16,916) (9,220) ( 16,071) ( 8,408)

Net profit on sales 45,655 25,108 11,998 5,984

Other operating income 883 530 395 272 Other operating expenses (-) (269) (151) ( 421) ( 418)

Operating profit 46,269 25,487 11,972 5,838

Other activities

Financial income 30,418 14,473 25,096 14,174 Financial expenses (-) (18,478) (8,216) ( 24,885) ( 13,287)

Pre-tax profit 58,209 31,744 12,183 6,725

Corporate income tax (9,649) (6,211) ( 96) 0 (current and deferred portions)

Operating profit 48,560 25,533 12,183 6,725

Discontinued operations Profit on discontinued operations for the financial year 62 62 0 0

Profit (loss) for the period reported 48,622 25,595 12,183 6,725

Earnings per share (in PLN) basic EPS from net profit for the period reported (in PLN) 1.05 0.55 0.48 0.28 1.05 0.55 diluted EPS from net profit for the period reported (in PLN) 0.48 0.28

68 ASSECO POLAND SA Q2 2007 All figures in PLN thousands

KEY FINANCIAL INFORMATION FROM THE FINANCIAL STATEMENTS ASSECO POLAND SA

CONDENSED BALANCE SHEET ASSECO POLAND SA

31 December 30 June 2007 2006 PLN ‘000 PLN ‘000 ASSETS Fixed assets 1,366,481 310,239

Property, plant and equipment 25,260 18,824 Intangible assets 970,490 14,119 Investments in subsidiary and associated companies 291,451 190,694 Long-term loans granted 5,800 10,000 Financial fixed assets valued at fair value through profit or loss 499 498 Long-term receivables 46,698 52,385 Deferred income tax assets 24,350 22,583 Long-term deferred expenses 1,933 1,136

Current assets 416,213 302,626

Inventories 15,315 11,575 Deferred expenses 14,289 18,608 Trade accounts receivable 76,425 106,119 Other receivables 66,296 44,231 Financial assets held to maturity 93,955 7,980 Loans granted 12,286 4,478 Financial assets valued at fair value through profit or loss 65,040 83,572 Cash and short-term deposits 72,607 26,063

TOTAL ASSETS 1,782,694 612,865

69 ASSECO POLAND SA Q2 2007 All figures in PLN thousands

KEY FINANCIAL INFORMATION FROM THE FINANCIAL STATEMENTS ASSECO POLAND SA

CONDENSED BALANCE SHEET (continued) ASSECO POLAND SA

31 December 30 June 2007 2006 PLN ‘000 PLN ‘000 SHAREHOLDERS EQUITY AND LIABILITIES

Share capital 46,446 25,175 Share premium 1,339 471 253,151 Capital securities issued due to payments in shares 0 1,407 Retained earnings and current net profit 102,845 59,420

TOTAL SHAREHOLDERS' EQUITY 1,488,762 339,153

Long-term liabilities 74,042 83,684

Long-term reserves 97 190 Long-term financial liabilities 71,903 80,173 Long-term deferred income 2,042 3,321

Current liabilities 219,890 190,028

Interest-bearing bank credits, loans and debt securities 5,272 7,760 Trade accounts payable 37,445 30,028 Corporate income tax payable 8,503 5,111 Liabilities to the State budget 6,615 10,114 Financial liabilities 37,213 32,133 Other liabilities 88,442 76,607 Reserves 1,500 2,866 Accrued expenses 23,624 15,303 Deferred income 11,276 10,106

TOTAL LIABILITIES 293,932 273,712

TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES 1,782,694 612,865

70 ASSECO POLAND SA Q2 2007 All figures in PLN thousands

KEY FINANCIAL INFORMATION FROM THE FINANCIAL STATEMENTS ASSECO POLAND SA

CONDENSED STATEMENT OF SHAREHOLDERS' EQUITY ASSECO POLAND SA for 6 months ended 30 June 2007 and for 12 months ended 31 December 2006 Unrealized net Retained profit on financial Capital from earnings (deficit) Total assets available bonds convertible and current Shareholders' Share capital Share premium for sale to shares net profit Equity PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000 PLN ‘000

As at 1 January 2007 25,175 253,152 0 1,407 59,421 339,155

Net profit for the period from 1 January 2007 to 30 June 2007 48,622 48,622 Dividend for the year 2006 (18,578) (18,578) Merger with Asseco Poland SA 4,310 13,380 975,470 Issuance of shares due to the merger with Asseco Poland SA 17,736 957,734 975,470 Issuance of shares due to acquisition of non-cash contributions 3,210 117,807 121,017 Expenses related directly to issuance of shares due to the merger (3,332) (3,332) with Asseco Poland SA Issuance of shares due to conditional increase of share capital 295 12,712 (4,310) 8,696 (sale of warrants) Issuance of shares due to conversion of convertible bonds 30 1,398 (1,407) 21 As at 30 June 2006 46,446 1,339,471 0 0 102,845 1,488,762

As at 1 January 2006 25,175 253,151 0 801 17,770 296,897

Net profit for 12 months ended 31 December 2006 57,761 57,761 Cost of employee benefits in the form of own shares 606 606 Dividend for the year 2005 (16,111) (16,111) As at 31 December 2006 25,175 253,151 0 1,407 59,420 339,153 On 4 January 2007 the Company merged with Asseco Poland SA (the acquired company), which is described in more detail in section "Merger with Asseco Poland SA and issuance of shares" of these interim condensed consolidated financial statements.

71 ASSECO POLAND SA Q2 2007 All figures in PLN thousands

KEY FINANCIAL INFORMATION FROM THE FINANCIAL STATEMENTS ASSECO POLAND SA

CONDENSED STATEMENT OF CASH FLOWS ASSECO POLAND SA 6 months ended 6 months ended

30 June 2007 30 June 2006 PLN ‘000 PLN ‘000 Cash flows – operating activities Pre-tax profit 58,286 12,183 Total adjustments: 47,408 ( 5.0780 Depreciation and amortisation 4,264 3,117 Change in inventories (3,063) 3,068 Change in receivables 61,017 30,504 Change in liabilities (2,288) ( 34,584)) Change in deferred and accrued expenses 17,122 ( 174) Change in reserves (6,569) ( 145)) Interest income and expense (7,149) 1,448 Gain (loss) on foreign exchange differences (11,465) ( 7,445) Gain (loss) on investing activities (10,387) ( 866) Other (287) ( 1) Net cash generated from operating activities 99,481 7,105 Interest paid (15) ( 1,546) Income tax paid (331) ( 632) Net cash provided by operating activities 99,135 4,927

Cash flows – investing activities Disposal of tangible fixed assets 41 95 Proceeds from redemption of financial assets held to maturity 40,660 571 Disposal of shares in subsidiary companies 33,422 0 Disposal of financial assets valued at fair value through profit or loss (157) 0 Acquisition of tangible fixed assets (2,928) (843) Acquisition of intangible assets (783) ( 6,298) Acquisition of subsidiary and associated companies (4,263) 82) Acquisition of financial assets held to maturity (125,968) 0 Proceeds from loans contracted 0 5,000 Loans granted (3,700) ( 828) Interest received 535 391 Dividends received 7,751 1,244 Other items 0 0 Cash provided by forward transactions 12,579 11,709 Net cash provided by (used in) investing activities (42,811) 10,959

Cash flows – financing activities Issuance of shares 7,450 0 Cash provided by (used for) taking out/repayment of bank credits/loans 0 ( 11,294) Dividend paid out to shareholders of Asseco Poland SA (17,344) 0 Cash provided (used) due to issuance of debt securities (134) ( 6,838) Finance lease commitments paid (30) 0 Other 278 0 Net cash provided by (used in) financing activities (9,780) ( 18,132) Net increase (decrease) in cash and cash equivalents 46,544 ( 2,246) Cash and cash equivalents as at 1 January 26,063 22,515 Cash and cash equivalents as at 30 June 72,607 20,269

72