Polska Agencja Informacji i Inwestycji Zagranicznych S.A. Polish Information & Foreign Investment Agency

THE LIST OF MAJOR FOREIGN INVESTORS IN POLAND

31st December, 2003

Warsaw 2004 Polska Agencja Informacji i Inwestycji Zagranicznych S.A. Polish Information & Foreign Investment Agency

The List of Major Foreign Investors in Poland as of December, 2003

1. Foreign investments in the world

According to the preliminary estimates of the United According to the methodology research took into consid- Nations Conference on Trade and Development eration entities with foreign capital of value exceeding (UNCTAD) the declining trend of foreign direct USD 1 million and at least 10% foreign ownership. investment in the world has been stopped. The global PAIiIZ questionnaires have been sent to over 1,300 com- value of FDI flows, after significant drops in the value of panies. FDI definition used by PAIiIZ is in accordance investments in years 2000-2002, remains on the level of with the one applied by OECD1. USD 653 billion. Investors and analysts pay particular The value of foreign capital inflow to Poland in 2003 attention to the region of Central and Eastern Europe. amounted to USD 6.42 billion. This value is larger by Investments in the region of Europe have been growing USD 360 million than in 2002. In the first half of 2003 steadily since spring 2001; the year in which they reached the value of FDI inflow to Poland amounted to USD the value of USD 25 billion. In 2002 the value of FDI 2.52 billion, while in the second half it reached the inflow in the region amounted to USD 28.7 billion, while level of USD 3.89 billion. it has been estimated at the level of USD 30.3 billion in In comparison to previous years when a drop in the 2003. foreign direct investment inflow was recorded in Poland, it has been observed that the trend has been halted and at Graph 1. FDI flows in the world over 1990-2003 (in USD billions, according to UNCTAD) the same time it has been stabilized at the level exceeding USD 6 billion.

Graph 3. The inflow of foreign capital to Poland between the years 1993-2003 (in USD million)

e -preliminary data

Graph 2. FDI inflow to the countries of CEE between 1990-2003 (in USD billion, according to UNCTAD) Source: PAIiIZ

The accumulated value of foreign direct investment exceeding USD 1 million in Poland on December 31, 2003 amounted to USD 69.44 billion. The value of capital invested in the entities not included in the research (with the participation of foreign capital not 2. FDI inflow to Poland in 2003 exceeding USD 1 million) has been estimated at USD 3.26 billion, and thus the accumulated value of foreign At the end of 2003 Polish Information and Foreign investment in Poland exceeded USD 72.71 billion. Investment Agency (PAIiIZ), similarly to previous years, carried out a research concerning the inflow of 1 OECD Benchmark Definition of Foreign Direct Investment foreign capital to Poland. (3rd edition), Paris 1996.

3 Polska Agencja Informacji i Inwestycji Zagranicznych S.A. Polish Information & Foreign Investment Agency

Graph 4. The accumulated value of foreign capital in 2.4 billion in 2003, which constituted over 38% of the Poland between the years 1993-2003 (in USD million) total value of capital inflow last year (see Table 2). In 2003 the largest foreign investor were Dutch companies (USD 2.06 billion), followed by international corporations (USD 986 million), German firms (USD 806 million), French (USD 616 million) and American (USD 535 million). Taking into account the accumulated value of foreign capital invested in Poland the first position is held by Source: PAIiIZ France (almost 20% of all investments carried out in Poland). The second largest investor in Poland are Dutch Among the foreign investments carried out in Poland in companies (14%), followed by American firms (13%), 2003 dominate greenfield investments, which accounted German (12%) and Italian (6%). The share of the for over half of all investments. This situation was due to remaining countries in the accumulated value of foreign the fact of large investments in the automotive and real direct investments in Poland amounted to 36%. estates sectors. Privatization processes (22%) and The second position in terms of the value of accumulated acquisitions, as well as joint ventures (7%) also had capital invested in Poland is taken by companies from a major share in the inflow of foreign direct investment the Netherlands. One should however take into account in 2003. that the ongoing globalization process and the freedom of capital flow in the world imply the phenomenon of Graph 5. Percentage share of particular forms of foreign investments, as being of transnational range and investments in the inflow of FDI to Poland nature. Due to this a number of investors originating in 2003 (according to PAIiIZ) from the American or Asian markets invest in Poland through their subsidiaries located mainly in the European countries. Such companies are among others Coca-Cola, Goodyear or United Technologies investing through Greece, Luxembourg and France respectively.

4. Foreign investments with respect to the sectors of the economy

Sector structure of foreign direct investments in 2003 3. Foreign investors in Poland with regard to the confirms that the majority of investments is still country of their origin inflowing to the manufacturing sectors of the Polish economy. The inflow to the manufacturing sector Foreign investments carried out in Poland in 2003 were amounted to USD 2.9 billion in 2003, which constituted in majority originating from the EU countries, with the 46% share in the total FDI inflow to Poland. This share dominant position held by companies registered in the increase by 12 percentage points in comparison to 2002. Netherlands, Germany and France. Poland remains an The largest share of the capital, USD 570 million, has attractive country for American investors, which had an been invested in the chemical and pharmaceutical 8% share in the inflow of foreign investment into sectors, as well as non-metal products especially related Poland in 2003. Corporations, which identify to the production of cement, lime and gypsum. themselves as international, also located their capital in The inflow to non-metal sector amounted to USD Poland. 533 million, which constituted 8% share in the total The value of the investment expenditures borne by the inflow of foreign capital to Poland in 2003 and 18% 15 largest foreign companies amounted to almost USD inflow to the manufacturing sector.

4 Polska Agencja Informacji i Inwestycji Zagranicznych S.A. Polish Information & Foreign Investment Agency

The capital is also gradually pouring into the food sector Table 1. Accumulated value of foreign direct especially in the form of reinvested profits. In 2003 the investment in Poland with regard to inflow to the food products sector reached the level of the country of origin of the investor USD 314.9 million, which constituted 11% inflow to the (December 31, 2003) whole manufacturing sector. This is especially important in the light capital outflow, which had been recorded in Country Capital invested Plans of registration (USD million) (USD million) the year 2002. 1 France 13,857.2 1,733.1 The second sector, which seems to be the most attractive 2 The Netherlands 9,863.2 1,262.5 for foreign investors, is the widely recognized financial 3 USA 8,689.3 2,898.4 intermediation. In 2003 investors located USD 2.4 billion 4 Germany 8,414.7 1,372.7 in this sector of the economy, which constituted 38% of 5 Italy 3,837.4 1,113.0 the total inflow of foreign direct investment to Poland. 6 United Kingdom 3,689.8 279.7 7 International 3,161.5 237.0 Foreign direct investment were also pouring into the 8 Sweden 3,062.3 259.8 service sector, especially to the media and entertainment 9 Denmark 2,111.4 460.8 segment, which recorded a 2 percentage point increase in 10 Belgium 2,048.1 349.8 comparison to 2002. 11 Russia 1,291.9 50.0 In terms of accumulated values the sector structure of the 12 Austria 1,122.9 221.9 foreign capital has remained unchanged in comparison 13 Cyprus 1,106.1 180.0 to previous years, as manufacturing and financial 14 Ireland 1,087.7 69.7 15 Switzerland 1,087.3 168.9 intermediation sector still remain dominant. Investors 16 South Korea 965.8 na have so far invested USD 27.7 billion (40%) and USD 17 Greece 556.5 na 16.7 billion (23%) in these sectors respectively. They 18 Luxembourg 541.4 134.0 were followed by trade and repairs (11.7%) as well as 19 Finland 479.2 179.0 transportation services (10.2%). 20 Portugal 423.4 66.6 21 Spain 387.4 40.5 22 Norway 343.7 69.8 23 Japan 258.0 262.4 5. Foreign investors in Poland 24 Canada 212.7 287.9 25 Croatia 173.0 16.0 On December 31, 2003 there were 996 companies from 26 Australia 158.1 11.0 35 countries on "The List of Major Foreign Investors in 27 Turkey 100.1 58.0 Poland", which is prepared by PAIiIZ (including 28 Israel 70.4 131.0 companies, which have invested in Poland at least USD 29 Slovenia 66.2 42.5 1 million). Over the recent few years the number of 30 Czech Republic 61.3 na 31 South Africa 57.2 na entities with the share of foreign capital monitored by the 32 Hungary 55.8 10.0 Agency has been growing dynamically. In 1993 there 33 China 45.0 45.0 were 193 companies on the first list published by PAIZ, 34 Philipines 40.0 na with the number constantly increasing, as there were 362 35 Lichtenstein 14.4 32.2 entities in 1995, 585 in 1997 and 906 on December 31, Investments exceeding USD 1 million 69,441.0 12,058.3 2001. Estimated investment not exceeding USD 1 million 3,265.0 Total 72,706.0 Source: PAIiIZ

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Table 2. The largest foreign direct investment in Poland in 2003

No Investor Inflow in 2003 Country Country Activity (USD million) of registration of origin 1 Fiat-GM Powertrain B.V. 432.2 The Netherlands International Automotive 2 GE Capital Real Estate/Heitman 254.7 International International Real estate Central Europe Property Partners 3 Europolis Invest 237.3 Austria Austria Real estate 4 General Motors Corporation 210.0 USA USA Automotive 5 Deutsche Bank AG 183.3 Germany Germany Banking, real estate 6 ITI Media Group NV 160.0 The Netherlands The Netherlands Media and entertainment 7 Electrabel S.A. 145.4 Belgium Belgium Power, gas and water supply 8 Lafarge 140.0 France France Manufacture of other non metal goods 9 KBC Bank N.V. 135.5 Belgium Belgium Banking 10 Vattenfall AB 110.0 Sweden Sweden Power, gas and water supply 11 Krono-Holding AG 105.0 Switzerland Switzerland Manufacture of wood and wooden products 12 United Technologies Holding S.A. 95.0 France USA Automotive 13 Toyota 90.0 Belgium Japan Automotive 14 Electricite de France Internationale 77.0 France France Power, gas and water supply (EDF) 15 Ball Packaging Europe 73.4 USA USA Manufacture of metals and metal products

Source: PAIiIZ

6 Polska Agencja Informacji i Inwestycji Zagranicznych S.A. Polish Information & Foreign Investment Agency

Table 3. The inflow of foreign investment to Poland according to the sectors of Polish Business Classification (PKD) in the year 2003*

PKD Invested capital Share (USD million) Manufacturing 2,964.9 46% Chemicals and chemical products 570.0 9% Other non-metal goods 533.0 8% Electrical machinery and apparatus 388.7 6% Food processing 314.8 5% Transport equipment 312.3 5% Rubber and plastics 288.2 4% Metals and metal products 264.5 4% Pulp and paper 232.7 4% Machinery and equipment 166.8 3% Wood and wooden products 162.2 3% Leather and leather products 16.8 0% Fabrics and textiles -58.6 -1% Furniture production -226.5 -4% Financial intermediation 2,426.5 38% Community, social and personal services 337.1 5% Power, gas and water supply 314.7 5% Trade and repairs 298.3 5% Transport, storage and communication 159.5 2% Real estate and business activities 141.6 2% Hotels and restaurants 36.6 1% Mining and quarrying 6.0 0% Agriculture 4.8 0% Construction -270 -4% Total inflow in 2003 6,420.1 100%

Source: PAIiIZ

* Negative data in Table 3 indicates capital outflow (TNC withdrawals from Poland, repayment of debts - mainly credits from investors, or selling their stakes/shares to other entities) exceeding inflow.

7 Polska Agencja Informacji i Inwestycji Zagranicznych S.A. Polish Information & Foreign Investment Agency

Table 4. The accumulated value of foreign direct investment in Poland according to Polish Business Classification (PKD), December 31, 2003

PKD Capital invested Plans % (USD million) (USD million) Manufacturing 27,76.9 4,826.5 40.0 Transport equipment 6,581.3 775.0 9.5 Food processing 6,247.0 377.8 9.0 Other non-metal goods 3,936.1 567.5 5.7 Chemicals and chemical products 2,503.1 706.5 3.6 Electrical machinery and apparatus 2,090.6 274.7 3.0 Pulp and paper 1,960.2 397.5 2.8 Wood and wooden products 1,494.8 195.0 2.2 Rubber and plastics 968.8 454.2 1.4 Metals and metal products 770.5 757.7 1.1 Machinery and equipment 709.4 122.2 1.0 Fabrics and textiles 247.3 177.1 0.4 Furniture production 236.9 20.1 0.3 Leather and leather products 31.4 1.5 0.0 Financial intermediation 16,190.5 1,382.5 23.3 Trade and repairs 8,127.4 905.1 11.7 Transport, storage and communication 7,089.1 249.7 10.2 Construction 2,938.7 325.1 4.2 Power, gas and water supply 2,565.7 1,223.0 3.7 Community, social and personal services 2,060.8 697.2 3.0 Real estate and business activities 1,570.5 2,019.9 2.3 Hotels and restaurants 847.2 392.2 1.2 Mining and quarrying 224.5 13.0 0.3 Agriculture 49.6 24.1 0.1 Investments exceeding USD 1 million 69,441.0 12,058.3 100.0 Estimated investment not exceeding USD 1 million 3,265.0 Total 72,706.0

Source: PAIiIZ

To receive additional information concerning the research please contact Investors' Servicing Department of PAIiIZ: Aleksandra Prachowska, Research Specialist, tel. (48 22) 334-98-40, e-mail: [email protected] Barbara Michniewicz, Specialist, tel. (48 22) 334-98-72, e-mail: [email protected]

8 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) 33.9% stake in Telekomunikacja Polska S.A. (Warsaw), 34% stake in PTK Centertel Sp. z o. o. transport, storage and 1 France Telecom 4,020.3 na France France (Warsaw), Equant Poland (Warsaw), France communication Telecom Polska (Warsaw), Sofrecom Warszawa (Warsaw)

European Bank for Foreign direct investment projects incl.: BPH PBK S.A., Dalkia Termika, Fiat/FSM, Kredyt Reconstruction and financial 2 2,695.0 na International International Bank, Kruszwica S.A., Lafarge Polska, PKP intermediation Development reconstruction and privatisation projects, PEKAO (EBRD) S.A., Polska Telefonia Cyfrowa Sp. z o. o.

Fiat Auto Poland S.A., Teksid Poland S.A., Magneti Marelli (Magneti Marelli After Market, Magneti Marelli Suspension System, Magneti manufacture of Marelli Thermal System), New Holland Bizon, transport equipment; 3 Fiat 1,768.7 na Italy Italy Comau, Fenice, Fiat Bank Polska, Fiat Finance financial Polska S.A., Fiat Ubezpieczenia Majątkowe S.A., intermediation Fiat Ubezpieczenia Życiowe S.A., Toro Poland Investments Sp. z o. o., Business Solutions Polska, Ingest Segim Polska, ITS-GSA Polska

Bank Przemysłowo-Handlowy PBK S.A., NFI Hetman S.A (Warsaw), CAIB Securities S.A. financial (Warsaw), CAIB Financial Advisers Sp. z o. o. 4 HVB 1,336.0 na Germany Germany intermediation (Warsaw), CAIB Investment Management S.A. (Warsaw), CAIB TFI S.A. (Warsaw), CAIB Fund Management S.A. (Warsaw) financial Citibank Bank Handlowy w Warszawie S.A. 5 Citigroup 1,300.0 na USA USA intermediation (Warsaw) KBC Representative Office Polska (Warsaw), financial 66.5% stake in Kredyt Bank S.A., 70.11% stake 6 KBC Bank N.V. 1,290.0 254.0 Belgium Belgium intermediation in Agropolisa S.A. (Warsaw), 75.13% stake in Warta S.A.

transport, storage and 48% stake in Europol Gaz S.A. (Warsaw), 32% 7 OAO Gazprom 1,283.8 na Russia Russia communication, stake in Polgaz Telekom S.A. construction

transport, storage and communication; real 49% stake in Elektrim Telekomunikacja estate, renting and S.A.(Warsaw), 50% stake in Carcom Warszawa 8 Vivendi Universal 1,243.4 na France France business activities; Sp. z o. o. (Warsaw), 10% stake in Elektrim S.A. wholesale and retail (Warsaw) trade

United Pan-Europe other community, The The UPC Polska (Warsaw), 25% in UPC Telewizja 9 Communications 1,200.0 100.0 social and personal Netherlands Netherlands Kablowa (Warsaw), 25% in Canal + Cyfrowy N.V. service activities UniCredito Italiano financial 10 1,200.0 na Italy Italy 53.2% stake in Bank Pekao S.A. (Warsaw) SpA intermediation

Metro Group S.A., Makro Cash & Carry Polska wholesale and retail 11 Metro Group AG 1,156.0 na Germany Germany S.A., Real Sp. z o. o., Praktiker Polska Sp. z o. o., trade Media Markt Sp. z o. o. - supermarkets chains

9 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Kronospan PL Sp. z o. o., Polspan Sp. z o. o., Krono-Chem Sp. z o. o. (Szczecinek); Melnox Sp. z o. o., Krono-Wood Sp. z o. o. (Mielec); Kronospan Holdings manufacture of wood 12 1,061.8 180.0 Cyprus Cyprus Maltadecor S.A., Malta Trading Sp. z o. o. and wood products Ltd. (Poznań), Rudawadecor Sp. z o. o. (Rudawa); Kronoerg Sp. z o. o. (Pustków); Kronoplus Sp. z o. o. (Jasło)

General Motors manufacture of Opel Polska Sp. z o. o. (Gliwice) - car production, 13 1,010.0 na USA USA Corporation transport equipment General Motors Poland Sp. z o. o. (Warsaw)

ING Bank NV (Warsaw), ING Baring Securities S.A. (Warsaw), Nationale-Nederlanden Polska S.A. (Warsaw), ING Lease (Polska) (Warsaw), financial 50% stake in ING BSK Asset Management S.A. The The 14 ING Group NV 990.0 na intermediation, real (Warsaw), ING BSK Towarzystwo Funduszy Netherlands Netherlands estate Inwestycyjnych S.A. (Katowice), ING Real Estate Sp. z o. o. (Warsaw), 54% stake in Bank Śląski S.A. (Katowice), 80% stake in PTE Nationale- Nederlanden Polska S.A. (Warsaw)

manufacture of transport equipment; Daewoo FSO Motor S. A. (Warsaw), Daewoo manufacture of Electronics Manufacturing Poland Sp. z o. o., 15 Daewoo 936.38 na South Korea South Korea electrical and optical Daewoo Motor Polska, Daewoo Towarzystwo equipment; financial Ubezpieczeniowe S. A. intermediation

United United wholesale and retail 16 Tesco Plc 850.0 na supermarkets chain Kingdom Kingdom trade wholesale and retail 12 hypermarkets and 57 supermarkets (Globi, 17 Carrefour 814.7 169.4 France France trade Champion)

wholesale and retail Geant Polska Sp. z o. o. (Warsaw) - 15 18 Casino 801.0 na France France trade supermarkets, Leader Price - 116 supermarkets

BP Poland Sp. z o. o. (Kraków), BP Gas Poland BP International The United wholesale and retail Sp. z o. o. (Swarzędz), BP Express Sp. z o. o. 19 800.0 27.0 B.V. Netherlands Kingdom trade (Kraków), Castrol Lubricants Sp. z o. o. (Warsaw) Aral Polska Sp. z o. o. (Kraków)

financial 60.1% stake in Bank Zachodni WBK S.A., WBK 20 Allied Irish Bank Plc 746.7 na Ireland Ireland intermediation AIB Asset Management financial Lucas Bank S.A. (Wrocław), Europejski Fundusz 21 Credit Agricole 740.0 na France France intermediation Leasingowy S.A. (Wrocław)

Enterprise Investors manages a group of venture capital/private equity funds: Polish Enterprise Fund IV L.P., Polish Enterprise Fund V, Polish Enterprise Fund, Polish-American Enterprise financial Fund; Polish Private Equity Fund I and II; main 22 Enterprise Investors 737.0 360.0 USA USA intermediation investments in Poland: Agros Nova Sp. z o. o., Apteki Polskie S.A., Comp S.A., Kruk Systemy Inkaso Sp. z o. o., LPP S.A., Netia S.A., Nomi S.A., Magellan Sp. z o. o. , Opoczno S.A., Sfinks S.A.

10 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) Saint-Gobain Glass Polska (Dąbrowa Górnicza), Huta Szkła Jaroszowiec, Glaspol (Jaroszowiec), Aurys Lustra (Namysłów), Saint-Gobain-Sekurit Hanglas Polska (Dąbrowa Górnicza), Autover Polska (Łódź), Saint-Gobain Euroveder Polska manufacture of other (Żary), Saint-Gobain Isover Polska (Gliwice), 23 Saint-Gobain 690.0 85.0 France France non metal goods Saint-Gobain Ecophon (Piaseczno), Saint-Gobain Velimat Polska (Gorlice), Saint-Gobain Abrasives (Koło), Saint-Gobain Weber Terranova (Gdynia), Saint-Gobain Wik (Łomianki), Raab Karcher Materiały Budowlane (Wrocław), La Platforme Polska (Warsaw), Okfens (Czeladź)

Lafarge Polska S.A. (Warsaw) - shares in: Kombinat Cementowo-Wapienniczy KUJAWY (Bieławy, Kujawsko-Pomorskie Voivodship), cement plant Małogoszcz (Świętokrzyskie manufacture of other 24 Lafarge 690.0 na France France Voivodship), cement plant Wierzbica non metal goods (Mazowieckie Voivodship), Lafarge Cement Polska S.A., Lafarge Gips Polska S.A., BRAAS Polska Sp. z o. o.- roofing tiles and shingles production

Auchan Polska Sp. z o. o., Elea Polska Sp. z o. o., wholesale and retail 25 Auchan S.A. 672.2 na France France Leroy-Merlin Sp. z o. o., Przedsiębiorstwo trade Handlowo - Usługowe Robert Sp. z o. o.

45% stake in Elektrociepłownie Warszawskie electricity, gas and 26 Vattenfall AB 643.0 na Sweden Sweden S.A., 75% stake in Górnośląski Zakład water supply Elektroenergetyczny

Elektrociepłownia Kraków S.A. (Kraków), Zespół Elektrociepłowni "Wybrzeże" S.A. (Gdańsk), Electricite de France electricity, gas and Elektrownia Rybnik S.A. (Rybnik), Zespół 27 600.0 200.0 France France Internationale (EDF) water supply Elektrociepłowni Wrocławskich Kogeneracja S.A. (Wrocław), 45% stake in Elektrociepłownia Toruń S.A., EDF Polska Sp. z o. o. (Warsaw)

manufacture of food Philip Morris The 99.9% stake in Philip Morris Polska S.A. 28 525.7 na USA products; beverages Netherlands (Kraków), Factory in Kraków and Leżajsk Holland B.V. and tobacco

CC HBC (Coca-Cola manufacture of food Coca-Cola Beverages Polska Sp. z o. o. (Warsaw), 29 Hellenic Bottling 513.0 na Greece USA products; beverages 3 plants in Łódź, Siemiątki near Kraków and Company) and tobacco Radzymin The The financial 30 Eureko B.V. 503.0 na 20% stake in PZU S.A. (Warsaw) Netherlands Netherlands intermediation

manufacture of food Imperial Tobacco United United 96.4% stake in Reemtsma Polska S.A. (Jankowice 31 500.0 na products; beverages Kingdom Kingdom near Tarnowo Podgórne) Plc and tobacco

Górażdże Cement S.A., Cementownia Groszowice Sp. z o. o. (Opole), Cementownia Wiek S.A. (Ogrodzieniec), Zielonogórskie Kopalnie Surowców Mineralnych S.A., Opolskie Kopalnie Surowców Mineralnych Sp. z o. o., The The manufacture of other Górażdże Beton Polska Sp. z o. o., Górabet Sp. 32 CBR Baltic BV 496.5 44.3 Netherlands Netherlands non metal goods z o o., Górażdże Trade Sp. z o. o., Zakład Transportu Samochodowego Górażdże Sp. z o. o., Górażdże Trans Sp. z o. o., Górażdże Mix Sp. z o. o., Górażdże Wapno Sp. z o. o., Górażdże Sabinów Sp. z o. o., Scancem Polska Sp. z o. o., Przedsiębiorstwo Spedycji Jastrowie Sp. z o. o.

11 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of Thomson Tubes and Thomson Multimedia Polska Sp. z o. o. 33 476.0 50.0 France France electrical machinery (Piaseczno) Displays S.A. and apparatus

International Paper Poland (Warsaw), manufacture of pulp International Paper - Kwidzyn S.A., Impap Sp. 34 IPC 450.9 20.0 USA USA and paper, publishing z o. o., Tor-Pal Sp. z o. o. (Kwidzyn), Bartorex and printing Sp. z o. o. (Kwidzyn) Fiat-GM Powertrain The Fiat GM Powertrain Polska Sp. z o. o. (Bielsko- 35 432.3 na Italy/USA automotive B.V. Netherlands Biała) wholesale and retail 36 Statoil 430.0 na Denmark Norway Statoil Poland Sp. z o. o. (Warsaw) trade

Philips Lighting Poland (Piła), Philips Consumer Electronics Industries Poland (Kwidzyn), Philips DAP Industries Poland Sp. z o. o. (Białystok) manufacture of Royal Philips The The Philips Lighting Farel Mazury (Kętrzyn), Philips 37 411.4 70.6 electrical machinery Netherlands Netherlands Lighting Bielsko Sp. z o. o. (Bielsko), Philips Electronics N.V. and apparatus Lighting Pabianice Sp. z o. o.(Pabianice), Philips Poland Sp. z o. o. (Warsaw), Philips Ferpol Sp. z o. o. (Skierniewice)

manufacture of wood 38 Krono-Holding AG 400.0 15.0 Switzerland Switzerland Kronopol Sp. z o. o. (Żary) and wooden products

electricity, gas and 39 RWE Plus AG 400.0 72.2 Germany Germany Stoen S.A. (Warsaw) water supply Volkswagen Poznań Sp. z o. o. (Poznań), manufacture of Volkswagen Motor-Polska Sp. z o. o. (Polkowice), transport equipment; 51% stake in Sitech Sp. z o. o. (Legnica SEZ), 40 Volkswagen AG 390.7 250.0 Germany Germany financial Volkswagen Ubezpieczenia Sp. z o. o. (Warsaw), intermediation Volkswagen Leasing Polska Sp. z o. o. (Warsaw), Volkswagen Bank Polska S.A. (Warsaw) Jeronimo Martins wholesale and retail Jeronimo Martins Dystrybucja Sp. z o. o. (Poznań) 41 386.3 na Portugal Portugal Holding trade Biedronka supermarkets chain Glaxo SmithKline Pharmaceuticals S.A. is a manufacture of globally operating pharmaceutical company. In United United 42 Glaxo SmithKline 380.5 28.2 chemicals and Poland GlaxoSmithKline Pharmaceuticals S.A. Kingdom Kingdom chemical products produces pharmaceuticals (factory in Poznań) for domestic and international markets

Nestle Polska S.A (Warsaw, Kalisz, Poznań), 50% manufacture of food stake in Cereal Partners Poland Toruń-Pacific Sp. 43 Nestle S.A. 365.0 na Switzerland Switzerland products; beverages z o. o. (Toruń), 50% stake in Nałęczowianka and tobacco Sp. z o. o. (Nałęczów)

General Electric International, Inc-Representative Office in Warsaw, GE Capital Bank (Gdańsk), GE Bank Mieszkaniowy (Warsaw), GE Power Controls (Bielsko - Biała, Kłodzko, Łódź), GE Medical Systems Polska Sp. z o. o. (Warsaw), GE financial Aircraft Engines (Warsaw), GE Power Systems intermediation, (Warsaw), Bently Nevada Poland Sp. z o. o. General Electric 44 360.0 na USA USA manufacture of (Poznań), GE Wind Energy (Warsaw), GE Oil & Corporation (GE) electrical machinery Gas (Warsaw), GE Transportation Systems and apparatus (Rzeszów), EST Energy Sp. z o. o. (Otwock), GE Rail Services (Warsaw), GE TIP (Gądki), GE Capital Europe (Warsaw), GE Frankona Re (Warsaw), GE Consumer Products (Warsaw), GE Interlogix Polska (Gdańsk), GE Plastics (Warsaw), GE Multilin (Gliwice), GE Betz (Warsaw)

12 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of food House of Prince 45 348.0 na Denmark Denmark products; beverages Scandinavian Tobacco S.A. (Myślenice) Denmark A/S and tobacco

Delphi Automotive Systems Poland Sp. z o. o. Delphi Automotive manufacture of 46 345.0 na USA USA (Kraków), Delphi Polska Automotive Systems transport equipment Systems Sp. z o. o. (Tychy), Delphi Krosno S.A. (Krosno)

transport, storage and communication; Telia S.A., shares in: Netia Telekom S.A., Netia 47 Telia AB 340.0 na Sweden Sweden manufacture of pulp South, Eniro Polska Sp. z o. o. and paper, publishing and printing

stake in Cementownia Ożarów, Olsztyńskie Cement Roadstone manufacture of other Kopalnie Surowców Mineralnych Sp.z o.o. 48 333.0 68.2 Ireland Ireland Holding Plc (CRH) non metal goods (Olsztyn), 85% stake in Zakłady Przemysłu Wapienniczego Trzuskawica S.A.

Multikino Sp. z o. o. (M. Investments), TVN, ITI Media Group The The community, social and TVN 7, TVN 24, TVN Meteo, ITI Film Studio, 49 330.0 na NV Netherlands Netherlands personal services Onet.pl, Optimus Pascal Multimedia, Tenbit.pl, DRQ

manufacture of food The The 50 Harbin B.V. 325.9 na products; beverages 30.8% stake in Grupa Żywiec S.A. (Żywiec) Netherlands Netherlands and tobacco

Deutsche Bank Polska S.A. (Warsaw), Dil Polska Baumanagement Sp. z o. o. (Warsaw), Deutsche Bank 24 S.A. (Kraków), Dil Polska Real Estate Leasing Sp. z o. o. (Warsaw), DWS Polska TFI financial S.A. (Warsaw), Deutsche Asset Management S.A. 51 Deutsche Bank AG 319.9 na Germany Germany intermediation (Warsaw), DB Securities SA., DBG Eastern Europe (Polska) Sp. z o. o. , Europaische Hypothenbank der Deutschen Bank, Deutsche Grundbesitz Sp. z o. o., Deutsche Bank Real Estate Sp. z o. o., 12.4% stake in Orbis S.A.

manufacture of transport equipment; manufacture of Alstom T&D Transformers Mikołów, Alstom machinery and T&D S.A. Świebodzice, Alstom Konstal Chorzów, 52 Alstom 316.8 110.0 France France equipment; Alstom Polska Sp. z o. o., Alstom Power manufacture of Generators, Alstom Power FlowSystems electrical and optical equipment

IKEA International A/S, IKEA Polska S.A., IKEA Hanim Poland S.A., IKEA Retail Sp. z o. o. - supermarket chain, IKEA Trading & Design AG 53 IKEA 315.0 100.0 Sweden Sweden retail trade (Janki near Warsaw), 80% stake in Szczeciński Przemysł Drzewny S.A., factory in Chłastów (Lubuskie Voivodship)

financial 54 Commerzbank AG 300.1 na Germany Germany 50% stake in BRE Bank S.A. intermediation

manufacture of food British American United British-American Tobacco Polska S.A. 55 300.0 na Germany products; beverages Kingdom/USA (Augustów) Tobacco GmbH and tobacco

13 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Pilkington Pilkington Polska Sp. z o. o. (Sandomierz), The United manufacture of other Pilkington Automotive Poland Sp. z o. o. 56 International 295.0 30.0 Netherlands Kingdom non metal goods (Sandomierz), Pilkington IGP S.A. (Warsaw), Holdings B.V. Pilkington AGR Polska (Warsaw)

Accor Polska Sp. z o. o. (Warsaw), 29.3% stake 57 Accor SA 280.0 na France France hotels and restaurants in Orbis S.A. (Warsaw) Europolis Invest Sp. z o. o. (Warsaw), real estate EUROPOLIS portfolio: Alliance Logistics Center, Bitwy 58 279.8 100.0 Austria Austria real estate INVEST Warszawskiej, Saski Point, Sienna Center, Warsaw Towers

Nordea Bank Nordea Bank Polska S.A. (Gdynia), NORDEA financial Polska Towarzystwo Ubezpieczeń na Życie S.A., 59 Sweden AB (Nordea 279.0 na Sweden Sweden intermediation NORDEA FINANCE POLSKA S.A., LG Petro Group) Bank S.A

bottling plants (Łódź, Białystok, Gdańsk, Kraków, manufacture of food Poznań, Szczecin, Wrocław, Żywiec, Leżajsk and 60 PepsiCo 275.0 na USA USA products; beverages Pniewy), salted snacks factory (Grodzisk and tobacco Mazowiecki), sale of "Delicja" confectionery to Danone

Skanska Project Development Europe AB - Atrium Centrum Sp. z o. o., Skanska Oeresund AB - Atrium Plaza Sp. z o. o. (both managed by construction, real 61 Skanska Kraft AB 255.2 na Sweden Sweden Skanska Property Poland (Warsaw); Skanska estate International Building AB - Skanska Polska Sp. z o. o. (Warsaw), 94% of shares of Exbud S.A. (Kielce), Westin Hotel (Warsaw)

GE Capital Real Estate/Heitman The 11 business galleries, Wiśniowy Business Park, 62 254.7 na International real estate Central Europe Netherlands Janki Center Property Partners

Złote Tarasy - shopping and entertainment The The real estate and 63 Rodamco 240.0 na (Warsaw), 50% stake in Galeria Mokotów - Netherlands Netherlands business activities shopping centre (Warsaw)

power, gas and water 99.6% stake in Elektrownia im. T. Kościuszki 64 Electrabel S.A. 232.9 na Belgium Belgium supply (Połaniec), Electrabel Polska Sp. z o.o. (Katowice)

manufacture of food Heineken The The Heineken Polska Sp. z o. o. (Warsaw), 61.8% 65 220.8 na products; beverages Netherlands Netherlands stake in Grupa Żywiec S.A. International B.V. and tobacco

BOC Gazy Sp. z o. o. (Warsaw, Poznań, Siewierz British Oxygen manufacture of United United and Wrocław), oxygene plant in Piła, shares in 66 Corporation (BOC 220.0 20.0 chemicals and Kingdom Kingdom Częstochowa steel plant - technical gas chemical products Group) production, Proxair Polska (Warsaw)

GATX Rail Overseas transport, storage and Dyrekcja Eksploatacji Cystern (DEC) Sp. z o.o. 67 202.3 na USA USA Holding Corporation communication (Warsaw)

Sampo Towarzystwo Ubezpieczeń S.A., Sampo financial S.A., Sampo Towarzystwo Ubezpieczeń na Życie 68 Sampo 200.0 na Finland Finland intermediation S.A. (Warsaw), Sampo Powszechne Towarzystwo Emerytalne S.A.

14 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) manufacture of Unilever Polska (Warsaw), Pollena Bydgoszcz - chemicals and washing powder production, ice cream factory The The chemical products; 69 Marga B.V. 200.0 na (Banino), Centrala Rybna Bydgoszcz - fish Netherlands Netherlands manufacture of food processing, 70% stake in Zakłady Przemysłu products, beverages Tłuszczowego Olmex - edible oils production and tobacco Epstein Development Sp. z o. o. (Warsaw), 70 Epstein 200.0 na USA USA construction Warsaw Corporate Center, Warsaw Financial Center 59% stake in Budimex S.A., Budimex Dromex, 71 Ferrovial 200.0 na Spain Spain construction Budimex Nieruchomości, Budimex Projekt (Warsaw)

Ispol-IMG Holdings The The manufacture of 72 192.7 na Isuzu Motors Polska Sp. z o. o. (Tychy) B.V. Netherlands Netherlands transport equipment Investment Fund for financial 148 investment projects in Poland - contribution 73 Central and Eastern 191.8 na Denmark Denmark intermediation to equity of companies and loans Europe

manufacture of pulp and paper, publishing Procter & Gamble and printing; Procter & Gamble Polska Sp. z o. o., PROCTER 74 190.0 na USA USA Co. manufacture of & GAMBLE Operations Polska S.A. chemicals and chemical products

Commercial Union Polska-Towarzystwo Ubezpieczeń Ogólnych S.A., Commercial Union United United financial Polska-Towarzystwo Ubezpieczeń na Życie S.A., 75 AVIVA Plc. 188.0 na Kingdom Kingdom intermediation Commercial Union Powszechne Towarzystwo Emerytalne BPH CU WBK S.A., Commercial Union Investment Management (Polska) S.A.

Goodyear rubber and plastics, 76 181.0 100.0 Luxembourg USA 59.9% of shares of Dębica S.A. (Dębica) Luxembourg S.A. automotive

manufacture of food 77 Seita 180.0 na France France products, beverages Altadis Polska S.A. (Radom) and tobacco

Toyota Motor Poland Co. Ltd. (Warsaw), Toyota manufacture of Motor Manufacturing Poland Sp. z o. o. 78 Toyota 180.0 na Belgium Japan transport equipment (Wałbrzych), Toyota Motor Industries Poland Sp. z o. o. (Jelcz-Laskowice)

99.1% stake in Fortis Bank Polska S.A. (Warsaw), financial 79 Fortis Bank NV/S.A. 178.5 na Belgium Belgium Fortis Securities Polska (Warsaw), Fortis Lease intermediation Polska (Warsaw)

United United transport, storage and Energis Polska Sp. z o. o., Cel Polska Sp. z o. o., 80 Bates Telecom Ltd 176.4 na Kingdom Kingdom communication Telrise Sp. z o. o.

AVON International wholesale and retail Avon Cosmetics Polska Sp. z o. o. (Warsaw), 81 176.3 na USA USA Operations INC. trade Avon Operations Polska - factory in Garwolin

50% of shares of Sadyba Best Mall, Plaza Centres Plaza Centers The The real estate and Poland (Kraków), Kraków Plaza Sp. z o. o., Ruda 82 175.0 500.0 Europe B.V Netherlands Netherlands business activities Śląska Plaza Sp. z o. o.- development of entertainment and shopping centres

financial TU Allianz Polska S.A., TU Allianz Życie Polska 83 Allianz AG 175.0 na Germany Germany intermediation S.A.(Warsaw), purchase of shares of Pekao S.A.

15 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

ERGO International financial 99.4% stake in Sopockie Towarzystwo 84 167.8 na Germany Germany Aktiengesselschaft intermediation Ubezpieczeniowe Ergo Hestia S.A.

Esso Deutschland 85 164.5 na Germany Germany retail trade Exxonmobil Sp. z o. o. (Warsaw) GmbH manufacture of rubber Stomil Olsztyn S.A. (Olsztyn), Michelin Polska 86 Michelin 161.3 na France France and plastics, Sp. z o. o. (Warsaw) automotive

manufacture of food 87 Mars Inc. 160.0 na USA USA products; beverages Master Foods Polska Sp. z o. o. (Sochaczew) and tobacco

manufacture of 88 Pliva d.d. 154.0 16.0 Croatia Croatia chemicals and Pliva Kraków Zakłady Farmaceutyczne S.A. chemical products financial Innova Capital Sp. z o. o. (Warsaw), Carman 89 Innova Capital 150.0 150.0 USA USA intermediation Polska Sp. z o. o. (Warsaw)

manufacture of Alcatel Polska S.A., Alcatel Business Systems 90 Alcatel 150.0 na France France electrical machinery Poland Sp. z o. o., Alcatel Setel Sp. z o. o. and apparatus (Warsaw), Alcatel CIT Polska Sp. z o. o. (Poznań)

Guardian Industries manufacture of other Guardian Industries Poland Sp. z o. o. 91 150.0 na Luxembourg USA Corporation non metal goods (Częstochowa)

92 McDonald's 148.0 90.0 USA USA hotels and restaurants Mc Donald's Polska Sp. z o. o. (Warsaw)

Bridgestone manufacture of rubber 93 148.0 231.0 Japan Japan Bridgestone Poland Sp. z o. o. (Poznań) Corporation and plastics

manufacture of other Cementownia Warszawa Sp. z o. o., shares in 94 Dyckerhoff AG 148.0 4.5 Germany Germany non metal goods cement plant Sitkówka Nowiny

71.3% stake in Frantschach Świecie S.A. (Świecie), Franpack CEE Świecie Sp. z o. o., manufacture of pulp The The Świecie Box Sp. z o. o., Bystrzyckie Zakłady 95 Framondi NV 144.0 na and paper, publishing Netherlands Netherlands Wyrobów Papierowych S.A. (Bystrzyca Kłodzka), and printing Frantschach Świecie Recykling Sp. z o. o., Papier Świecie Sp. z o. o.

manufacture of food Wm. Wrigley Jr. 99.9% stake in Wrigley Poland Sp. z o. o. 96 144.0 12.5 USA USA products, beverages (Poznań) Company and tobacco

Faurecia Fotele Samochodowe Sp. z o. o. (Grójec), Faurecia manufacture of Faurecia Wałbrzych Sp. z o. o. (Wałbrzych), 97 140.0 na France France Investments transport equipment Faurecia Gorzów (Gorzów Wielkopolski), Faurecia SAI Legnica (Legnica)

Lucent Technologies manufacture of The Lucent Technologies Poland S.A. (Warsaw and 98 Network Systems 139.0 10.0 USA electrical machinery Netherlands Bydgoszcz) Netherlands BV and apparatus

United Technologies 99 136.8 40.0 France USA transport equipment 92.1% stake in WSK "PZL-Rzeszów" S.A. Holding S.A.

construction, real Apollo-Rida Poland 100 136.0 na USA USA estate and business Apollo-Rida Poland Sp. z o. o. (Warsaw) Llc. activities

16 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Danone Polska Sp. z o. o. (Warsaw), factory in manufacture of food BSN Gervais Bieruń (Śląskie Voivodship), purchase of 101 135.5 na France France products; beverages "Delicja" confectionery from PepsiCo, Bakoma Danone and tobacco S.A. (Warsaw), Bakoma Nova Sp. z o. o. (Kutno)

Dyckerhoff Zement power, gas and water Elektrociepłownia Nowa Sarzyna Sp. z o. o. 102 132.0 na USA USA International GmbH supply (Nowa Sarzyna)

pulp and paper, 103 Arctic Paper AB 132.0 6.3 Sweden Sweden publishing Arctic Paper S.A. (Kostrzyn) and printing

pulp and paper, Amcor Polska Sp. z o. o. (Łódź), Schmalbach 104 Amcor Ltd 129.6 10.0 Australia Austria publishing Lubecka Pet Containers Polska (Radomsko), and printing Amcor Flexibles Polska Sp. z o. o. (Łódź)

manufacture of food Cadbury's United United Cadbury Wedel Sp. z o. o. (Bielany Wrocławskie), 105 126.5 na products, beverages Kingdom Kingdom Cadbury Wedel (Warsaw) Schweppes and tobacco

Shell Gas Polska (Łódź), Shell Polska (Warsaw), Shell Overseas United United retail trade, power, 106 126.4 na Dea Mineraloel Polska - gas station network, Kingdom Kingdom gas and water supply Holding distribution of petroleum products

manufacturing of 84% stake in Huta Lucchini Warszawa Sp. z o. o. 107 Lucchini Group 126.0 na Italy Italy metals and metal (Warsaw) products 98% stake in Eaton Truck Components S.A manufacture of 108 Eaton 125.0 8.0 USA USA (Tczew), Eaton Automotive Sp. z o. o. (Bielsko- transport equipment Biała)

F & P Holding manufacture of metals 109 125.0 93.0 USA USA 53% stake in Can-Pack S.A. (Kraków) Company Inc. and metal products

trade and repairs, Siemens Sp. z o. o., Siemens iCenter, OSRAM, financial Bosch-Siemens Hausgerate, Siemens Finance intermediation, real Sp. z o. o., Westinghouse Modelpol Sp. z o. o., 110 Siemens AG 124.0 na Germany Germany estate and business Alarmcom Bielski Sp. z o. o., Siemens Fabryka activities, manufacture Izolatorów Polska Sp. z o. o., Fujitsu Siemens of electrical machinery Computers Sp. z o. o., VW Elektro-Systemy and apparatus

ABB Sp. z o. o. (Warsaw) - branch offices in machinery and Łódź, Przasnysz, Krakow, Wrocław, Elbląg and Sweden equipment, electrical 111 ABB Ltd. 123.1 12.0 International exploratory center in Kraków; ABB Instal Sp. Switzerland machinery and z o. o. (Wrocław), ABB Marine Sp. z o. o. apparatus (Elbląg); ABB Gazpetro Sp. z o. o. (Elbląg)

financial 112 Danske Bank A.S. 121.8 na Denmark Denmark Danske Bank Polska S.A. (Warsaw) intermediation

Bau Holding construction, hotels Strabag Sp. z o. o., 80% stake in Hotele 113 118.2 18.0 Austria Austria Strabag AG and restaurants Warszawskie "Syrena" construction, real Cefic Polska Sp. z o. o. (Warsaw), Beg Ingenierie 114 BEG S.A. 115.5 na France France estate Polska Sp. z o. o. manufacture of Basell Europe The The 50% stake in Basell Orlen Polyolefins Sp. z o. o. 115 115.4 na chemicals and Netherlands Netherlands (Płock) Holdings NV chemical products Swedwood Holding The furniture and 116 113.0 na Sweden Swedwood Poland S.A. (Szczecin) BV Netherlands consumer goods

17 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

publishing Orkla Press Polska, Presspublica Sp. z o. o. 117 Orkla Press 113.0 na Norway Norway and printing (Warsaw) - shares in newspapers and magazines

manufacture of food 118 Ferrero Group 112.0 31.0 Italy Italy products, beverages Ferrero Polska Sp. z o. o. (Warsaw) and tobacco

European Retail real estate, renting and 5 shopping centres (Kraków, Wrocław, Warsaw, 119 110.0 263.0 France France Enterprises (ERE) business activities Katowice, Szczecin)

Raiffeisen Raiffeisen Bank Polska S.A., Raiffeisen Leasing financial Polska S.A. (Warsaw), Raiffeisen Factoring 120 Zentralbank 108.8 26.0 Austria Austria intermediation Polska Sp. z o. o. (Warsaw), Raiffeisen Capital Osterreich AG Investment Polska Sp. z o.o. (Warsaw)

Intercell S.A. - cellulose, paper and cardboard pulp and paper, production, shares in: Ostrołęckie Zakłady 121 Intercellulosa AB 108.0 15.0 Sweden Sweden publishing Celulozowo-Papiernicze, Scanbox (Łódź), Nordic and printing Box (Tychy), Intercell Trading Sp. z o. o. (Warsaw)

manufacture of food Carlsberg Breweries 122 107.5 70.0 Denmark Denmark products, beverages 74.9% stake in Carlsberg Okocim S.A. (Brzesko) A/S and tobacco

Raben Logistics Sp. z o.o., Raben Transport Sp. z o.o., Raben Wielkopolska Sp. z o.o., Agencja The The transport and storage, 123 Therab BV 105.2 10.5 Celna Raben 1 Sp. z o.o., Szybka Paczka Sp. Netherlands Netherlands repairs z o.o., Raben Mazovia Sp. z o.o., Raben Łódź Sp. z o.o., Raben Projekty (Gądki)

United United 65% of shares of Nomi S.A. - chain of 124 Kingfisher 104.0 na trade and repairs Kingdom Kingdom hypermarkets, Castorama supermarkets chain

pulp and paper, 125 ICT SPA 102.4 na Italy Italy publishing ICT Poland Sp. z o. o. (SEZ Kostrzyn) and printing

Vodafone Americas transport, storage and 126 100.5 na USA USA 19.6% stake in Polkomtel S.A. (Warsaw) Asia Inc. communication

TDC Mobile transport, storage and 127 100.5 na Denmark Denmark 19.6% stake in Polkomtel S.A. (Warsaw) International A/S communication

Hicks Muse Tate & Furst, Emerging USA/United community, social and 128 Markets Partnership 100.0 na International Aster City Cable Sp. z o. o. Kingdom personal services and Argus Capital Partners

community, social and Polska Telewizja Kablowa S.A. (Warsaw, 129 D. Chase Enterprises 100.0 200.0 USA USA personal services Katowice, Gdańsk, Kraków and Lublin)

Passauer Neue publishing shares in newspapers, magazines and printing 130 98.0 na Germany Germany Presse and printing houses

ABN AMRO Bank Polska S.A., ABN AMRO ABN-AMRO Bank The The financial Corporate Finance Polska Sp. z o.o., ABN AMRO 131 96.7 na NV Netherlands Netherlands intermediation Securitas Polska S.A., ABN AMRO Asset Management Polska S.A.

18 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

power, gas and water Linde Gaz Polska Sp. z o. o., Linde Material 132 Linde AG 94.0 na Germany Germany supply Handling Polska Sp. z o. o. (Raszyn)

BSH Bosch und machinery and BSH Sprzęt Gospodarstwa Domowego Sp. z o. o. 133 Siemens Hausgerate 94.0 48.0 Germany Germany equipment (Warsaw), BSH Sp. z o. o. - factory in Łódź GmbH

power, gas and water Dalkia Termika S.A. (Warsaw), 51% stake in 134 Dalkia Termika S.A. 90.4 130.2 France France supply Poznańska Energetyka Cieplna S.A. (Poznań)

investment in various projects incl.: financial sector, heavy industry, tourism, medicare, food processing, telecommunications etc.; total value International financial 135 90.0 40.0 International International of the IFC financial involvment in Poland intermediation Finance Corporation including loans amounted to USD 563.6 million; total value of projects with the IFC contribution exceeded USD 2 billion

BSO Polska Sp. z o. o. (Warsaw), 68% stake in manufacture of food British Sugar United United Sugarpol (Toruń), 53.4% stake in Cukrownia 136 90.0 10.0 products, beverages Kingdom Kingdom Glinojeck S.A., Cukrownia Pelplin S.A., Overseas (BSO) Ltd. and tobacco Cukrownia Guzów S.A., Sugar Tor Sp. z o. o.

Lear Automotive (EEDS) Poland Sp. z o. o. manufacture of 137 Lear Corporation 89.5 21.5 USA USA (Mielec), Lear Corporation Poland Sp. z o. o. transport equipment (Tychy, Gliwice, Myslowice, Warsaw)

Knauf Bauprodukte Polska Sp. z o. o. (Rogowiec), Knauf Bełchatów Polska Sp. z o. o. - factory, Knauf Jaworzno III Sp. z o. o. - factory, Knauf Knauf Pack Sp. z o. o. (Żyrardów) - factory, Knauf manufacture of other 138 Verwaltungsgesell- 88.4 na Germany Germany Service Sp. z o. o. (Jaworzno), Knauf Trans Sp. non metal goods schaft KG z o. o. (Jaworzno), Knauf Sp. z o. o. (Warsaw), stake in Norgips Sp. z o. o. (Warsaw), Orth Gipse Sp. z o. o. (Jaworzno), PFT Systems Polska Sp. z o. o. (Jaworzno)

manufacture of other 139 Icopal A/S 86.8 na Denmark Denmark 99.9% stake in Icopal S.A. (Zduńska Wola) non metal goods

Valeo Autosystemy Sp. z o. o. (Kraków, Skawina) 140 Valeo 85.7 na France France automotive Valeo Dystrybucja (Warsaw), Valeo Sylea Poland (Czechowice-Dziedzice)

manufacture of other Norgips Opole Sp. z o. o. (Dobrzeń Wielki), 141 Norgips 85.0 na Norway Norway non metal goods Norgips Polska Sp. z o. o. (Warsaw)

142 Foras Holding A/S 85.0 128.0 Denmark Denmark real estate Foras Management Poland Sp. z o. o. (Warsaw)

143 Eiffage Construction 85.0 na France France construction 98.5% Mitex S.A. (Kielce)

United United logistics centre near Częstochowa, Błonie and 144 Hays 84.2 na transport and storage Kingdom Kingdom Piotrków Trybunalski

Deutsche Bank Trust 145 84.0 7.0 USA Germany mining and quarrying KGHM Polska Miedź S.A. (Lubin) Company Americas

Thorkild Kristensen Polska Sp. z o. o. (Warsaw) - 146 TK Holding 83.0 na Denmark Denmark construction shopping center in Szczecin, construction plans (Warsaw and Poznań)

19 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

70% stake in Credit Suiss Life and Pensions PTE S.A. (Warsaw), 65% stake in Credit Suiss Winterthur financial 147 82.7 na Switzerland Switzerland Towarzystwo Ubezpieczeń na Życie S.A. intermediation Insurance (Warsaw), Towarzystwo Ubezpieczeniowe Winterthur S.A. (Warsaw)

manufacture of Cracow based companies: Air Liquide Polska Sp. 148 Air Liquide S.A. 82.0 25.0 France France chemicals and z o. o., Alkat Sp. z o. o., Alpol Sp. z o. o. chemical products

93.2% stake in NSK Iskra S.A., Iskra Zakłady Precyzyjne Sp. z o. o., Iskra Zakłady Łożysk NSK Europe United machinery and 149 81.8 na Japan Specjalnych Sp. z o. o., Iskra Centrum Narzędzi Kingdom equipment Limited Specjalnych Sp. z o. o., Iskra ZBM Sp. z o. o., Iskra ZUS Sp. z o. o.(Kielce)

manufacture of food 150 Cargill Inc. 81.0 na USA USA products, beverages Cargill Poland Sp. z o. o. (Warsaw) and tobacco

Pol Print Medien publishing 151 81.0 3.0 Germany Germany Polskapresse Sp. z o. o. (Warsaw) GmbH and printing

Svenska financial Bank Svenska Handelsbanken Polska S.A. 152 81.0 na Sweden Sweden Handelsbanken AB intermediation (Warsaw)

manufacture of food 80% stake in Wyborowa S.A., 97.8% stake in 153 Pernod Ricard S.A 80.4 7.0 France France products, beverages Agros Holding S.A.(Warsaw) and tobacco

manufacture of Volvo Polska Sp. z o. o. (Wrocław) - branch 154 Volvo AB 80.0 2.0 Sweden Sweden transport equipment offices in Warsaw, Błonie, Kraków, Gdynia

Gaspol S.A. in Warsaw, 7 bottled gas plants The The power, gas and water 155 Pam-Gas BV 78.8 na (Stęporków, Nowy Targ, Lubartów, Łomża, Netherlands Netherlands supply Rypin, Barlinek, Pleszew), 10 depots

AIG Lincoln Sp. z o. o. (Warsaw), AIG Amplico Life S.A. (Warsaw), AIG Bank Polska S.A. financial (Warsaw), AIG Powszechne Towarzystwo 156 AIG 78.5 236.0 USA USA intermediation, Emerytalne S.A. (Warsaw), AIG Poland TU S.A. construction (Warsaw), AIG OFE (Warsaw), AIG Credit S.A. (Wrocław), AIG Asset Management S.A. (Warsaw)

retail trade, Shell Gas Polska (Łódź), Shell Polska (Warsaw) - The The manufacture of 157 Shell Petroleum NV 77.8 na gas station network, distribution of petroleum Netherlands Netherlands chemicals and products chemical products Europort Grain 158 76.6 na Canada Canada transport and storage Europort Grain Terminal (Gdańsk) - reloading Terminal

Brau Union Polska Sp.z o.o. (Warsaw), Browary manufacture of food Bydgoskie "Kujawiak" (Bydgoszcz), Browary 159 Brau Union 76.5 11.6 Austria Austria products, beverages Warszawskie "Królewskie" S.A. (Warsaw), and tobacco Browar Van Pur S.A. (Rakszawa)

power, gas and water 160 Swepol Link AB 75.0 na Sweden Sweden Swepol Link (Poland) Sp. z o. o. supply Provident Financial United United financial Provident Polska S.A (Warsaw) - 62 branches in 161 75.0 na Plc. Kingdom Kingdom intermediation Poland

20 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) Ball Packaging metals and metal 162 75.0 4.7 USA USA Ball Packaging Europe Radomsko Sp. z o. o. Europe GmbH products

Zurich Towarzystwo Ubezpieczeń S.A., Generali Generali Holding financial Życie Towarzystwo Ubezpieczeń S.A., Generali 163 74.5 na Austria Austria Vienna AG intermediation Towarzystwo Ubezpieczeń S.A., Zurich Towarzystwo Ubezpieczeń na Życie S.A.

Portico Group (Portico Development Sp. z o. o., Silver Screen World Cinemas Sp. z o. o., Portico 164 AP Portico Sarl 72.5 15.0 Luxembourg Luxembourg real estate Port Sp. z o. o., Portico Galicja Sp. z o. o., Portico Heveliusz Sp. z o. o., Silver Screen Targówek Sp. z o. o.)

Rigips Austria manufacture of other Rigips Polska-Stawiany Sp. z o. o. (Stawiany near 165 70.0 5.0 Austria Austria GmbH non metal goods Kielce)

community, social and 166 Canal Plus 70.0 na France France Canal Plus Polska - TV broadcasting personal services

manufacture of food 167 Brouwerij Palm NV 70.0 2.0 Belgium Belgium products, beverages 99.7% stake in Browar Belgia Sp. z o. o. (Kielce) and tobacco

Hydro Poland Sp. z o. o. (Warsaw), Hydro manufacture of metals Hydro Central Aluminium Chrzanów Sp. z o. o. (Chrzanów), 168 69.0 na Norway Norway and metal products, Hydrogas Polska Sp. z o. o. (Gdańsk), 49% stake Europe B.V wholesale trade in Wicona Sp. z o. o. (Warsaw)

Heinrich Bauer publishing 169 Verlag Beteiligungs 69.0 na Germany Germany Wydawnictwo Bauer Sp z o.o. and printing GmbH

170 NCC AB 68.6 36.0 Sweden Sweden construction NCC Polska Sp. z o.o. (Warsaw)

manufacture of other Rockwool Polska Sp. z o. o. (Cigacice, Lubuskie 171 Rockwool 67.0 na Denmark Denmark non metal goods Voivodship), Rockwool Małkinia Sp. z o. o.

machinery and 172 CNH Global 66.5 na USA USA CNH Polska Sp. z o. o. (Płock) equipment Katowickie Centrum Biznesu Sp. z o. o. 173 IAEG/WIBEBA 66.0 20.0 Austria Austria construction (Katowice) - business center manufacture of metals Pipelife Deutschland Pipelife Polska Sp. z o. o. (Karlikowo), Mabo 174 65.0 0.6 Germany Germany and metal products, Turlen S.A. (Kartoszyno) GmbH wholesale trade

IT International community, social Cinema City Poland Sp. z o. o. - 10 multiplex 175 65.0 111.0 Israel Israel Theatres and personal services cinemas

financial Fortrade Financing SpA - Fortrade Financing intermediation, Warsaw Sp. z o. o., FIM Tower (Warsaw), Fortrade Financing 176 65.0 150.0 Italy Italy manufacture of food Fortrade Leasing S.A. (Katowice), Zakłady SPA products, beverages Mięsne PFM Stanisławów, PFM Małaszewicze, and tobacco PFM Sochocin

Flextronics electrical machinery 177 65.0 68.0 USA USA Flextronics International Sp. z o. o. (SEZ Tczew) International and apparatus

178 Apache Corporation 65.0 na USA USA quarrying and minning Apache Poland Sp. z o. o. (Warsaw)

21 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of food Saint Louis Sucre 95% stake in Śląska Spółka Cukrowa S.A. 179 63.1 na France France products, beverages (Łosiów, Opolskie Voivodeship) International S.A.S. and tobacco

Tricon Global American Restaurant Sp. z o. o. (Wrocław), 180 Restaurants Inc. 63.0 77.0 USA USA hotels and restaurants (Pizza Hut & KFC brands)

Sealing Systems Polska Sp. z o. o., Metzeler Metzeler Automotive manufacture of 181 62.9 65.0 Germany Germany Automotive Hose Systems Sp. z o. o. (SEZ transport equipment Hose Systems Wałbrzych) manufacture of 182 Beiersdorf AG 62.2 6.0 Germany Germany chemicals and Beiersdorf-Lechia S.A. chemical products

Hohenstaufen manufacture of food Neunundvierzigste 183 62.0 na Germany Germany products, beverages McCain Poland Sp. z o. o. (Strzelin) Vermogensverwal- and tobacco tungs GmbH

BNP Paribas Bank Polska S.A.(Warsaw), Poczta financial Polska - Cardiff (Grupa BNP Paribas) Arca 184 BNP Paribas 61.2 na Germany Germany intermediation Invesco Powszechne Towarzystwo Emerytalne S.A. (Warsaw)

Matsushita Electric United electrical machinery 185 61.2 4.0 Japan Matsushita Battery Poland S.A. (Gniezno) Europe Ltd Kingdom and apparatus

Kappa Expac Fabryka Tektury i Opakowań Sp. pulp and paper, The The z o. o. (Pruszcz Gdański), Kappa Expac Fabryka 186 Kappa Packaging 60.2 na publishing Netherlands Netherlands Wyrobów Papierowych Sp. z o. o. (Drezdenko), and printing Kappa Expak Konin Sp. z o. o. (Stare Miasto)

187 Robert Bosch GmbH 60.1 na Germany Germany automotive Bosch Układy Hamulcowe Sp. z o. o. (Mirków)

United United 188 Trusthouse Forte 60.0 2.5 hotels and restaurants Kingdom Kingdom Le Royal Meridien Bristol Sp. z o. o. Mobil Petroleum 80% stake in Mobil Oil Poland Sp. z o. o. 189 60.0 na USA USA wholesale trade Company Inc (Warsaw) Merloni machinery and 190 Electrodomestici 60.0 9.8 Italy Italy Merloni Indesit Polska Sp. z o. o. (Łódź) equipment SpA 191 Hines 60.0 50.0 USA USA construction Hines Polska Sp. z o. o. (Warsaw) DaimlerChrysler Automotive Polska Sp. z o. o. (Warsaw, Sosnowiec), DaimlerChrysler Services (debis) Bank Polska S.A.(Warsaw), DaimlerChrysler Leasing Services Sp. z o. o. 192 DaimlerChrysler AG 60.0 na International Germany trade and repairs (Warsaw), DaimlerChrysler Services Fleet Management, DaimlerChrysler Aerospace (Świdnik), EvoBus Polska Sp. z o. o. (Warsaw), Systemy Układu Kierowniczego i Podwozia LSM Sp. z o. o.

manufacture of 193 Alcro - Beckers AB 60.0 na Sweden Sweden chemicals and Polifarb Becker Dębica S.A., TBD S.A. (Dębica) chemical products Ahold Polska Sp. z o. o. (Kraków), Ahold Polska The The Real Estate Sp. z o. o. (Kraków), Hypernova 194 Ahold 59.0 125.0 retail trade Netherlands Netherlands (Chojnice, Starogard Gdański), Albert (Gdańsk, Gdynia) Huhtamaki Van manufacture of rubber Huhtamaki Polska Sp. z o. o. (Siemianowice 195 59.0 na Finland Finland Leer and plastics Śląskie)

22 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of machinery and Danfoss Poland Sp. z o. o. (Warsaw), Zakład equipment, Hydrauliki Przemysłowej Pilmet (Wrocław), 196 Danfoss A/S 58.7 2.0 Denmark Denmark manufacture of valve production (Grodzisk Mazowiecki near electrical machinery Warsaw), Sauer - Danfoss Sp. z o. o. and apparatus

manufacture of food 48.3% stake in Kompania Piwowarska S.A., 197 SABMiller Plc 57.2 na South Africa South Africa products, beverages 98.8% in Dojlidy Brewery Sp. z o. o. and tobacco

Societe Generale financial 198 57.0 na France France Bank Societe Generale (Warsaw) S.A. intermediation

manufacture of food Kraft Foods Polska Sp. z o. o. (Warsaw), 99% Kraft Jacobs 199 57.0 na Switzerland Switzerland products, beverages stake in Olza Sp. z o. o. (Cieszyn), Kraft Polska Suchard AG and tobacco Sp. z o. o. (Jankowice)

Bankgesellschaft financial 200 57.0 na Germany Germany Bankgesellschaft Berlin Polska S.A. (Warsaw) Berlin AG intermediation

DHL Worldwide transport, storage and 201 57.0 na USA USA DHL International (Poland) Ltd. Network communication

manufacture of chemicals and Henkel Polska S.A (Warsaw), Ceresit Sp. z o.o. 202 Henkel CEE 57.0 na Austria Austria chemical products, (Dzierżoniów) manufacture of other non metal goods

The The transport, storage and 22.5% stake in Polska Telefonia Cyfrowa Sp. 203 Media One 54.5 na Netherlands Netherlands communication z o. o. (Warsaw)

transport, storage and 22.5% stake in Polska Telefonia Cyfrowa 204 DeTeMobil 54.5 na Germany Germany communication Sp. z o. o. (Warsaw)

Legrand FAEL Sp. z o. o. (Ząbkowice Śląskie), The The electrical machinery 205 Finelectric BV 54.5 na ZNUT FAEL Sp. z o. o., ZPEZ Sp. z o. o. Netherlands Netherlands and apparatus (Ząbkowice Śląskie)

manufacture of food Bunge Investment 206 53.8 40.0 France France products, beverages Zakłady Tłuszczowe Kruszwica S.A. France and tobacco

BRC Holding 207 53.7 na USA USA hotels and restaurants Radisson SAS Hotels (Warsaw) Developments

REWE 50% stake in Selgros Cash and Carry (Poznań and wholesale and retail 208 Grossflachengesell- 53.5 na Germany Germany Warsaw) - wholesale supermarkets, construction trade schaft GmbH of a supermarket in Długołęka near Wrocław

50% stake in Selgros Cash and Carry (Poznań and FEGRO-Markt wholesale and retail 209 53.5 na Germany Germany Warsaw) - wholesale supermarkets, construction trade GmbH of a supermarket in Długołęka near Wrocław

Inter 99.9% stake in Towarzystwo Ubezpieczeniowe financial Inter Polska S.A. (Warsaw), 80.8% stake in 210 Krankenversiche- 52.5 na Germany Germany intermediation Towarzystwo Ubezpieczeń na Życie Inter-Życie rung AG Polska S.A. (Warsaw)

manufacture of fabrics 211 Sud Wolle AG 52.0 na Germany Germany East West Spinning Sp. z o. o. (Łódź) and textiles 212 E. Leclerc 52.0 215.0 France France retail trade supermarkets chain in Poland

23 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) The The Zakład Produkcji Papieru Higienicznego 213 Delfinet B.V. 52.0 5.0 manufacture of paper Netherlands Netherlands Delittissue Sp. z o. o. (Ciechanów)

Stahlschmidt & Stahlschmidt&Maiworm Sp. z o. o. (Stalowa 214 51.1 16.1 Germany Germany automotive Maiworm Wola), investment in Tarnobrzeg SEZ

manufacture of ICN 215 51.1 35.9 USA USA chemicals and 80% stake in ICN Polfa - Rzeszów S.A. Pharmaceuticals Inc. chemical products United United share in Wrocławskie Kopalnie Surowców 216 Tarmac 50.5 na mining and quarrying Kingdom Kingdom Mineralnych, Kosmin, Junikon, Libet

Sanitec Koło Sp. z o. o., Laminex (Mińsk manufacture of other 217 Sanitec Ltd. OY 50.0 37.0 Finland Finland Mazowiecki), Scan Aqua Sp.z o.o. (SEZ Łódź), non metal goods Zakład Wyrobów Sanitarnych (Wrocław)

real estate and business 218 Reform Company 50.0 na Turkey Turkey Reform Plaza (Warsaw) activities manufacture of Praxair Polska Sp. z o. o. - plants in Warsaw, 219 Praxair Inc. 50.0 na USA USA chemicals and Gliwice, Poznań, Siewierz and Wrocław chemical products

E.M. Warburg, United United transport, storage and 220 50.0 na Netia Holdings S.A (Warsaw) Pincus & Co. Kingdom Kingdom communication

Banco Santander financial 221 50.0 na Spain Spain CC Bank S.A. (Warsaw) Central Hispano intermediation 222 Aventis S.A. 50.0 na France International Aventis Pharma Sp. z o. o. wholesale trade

EMPiK Centrum EMPiK Sp. z o. o. (Warsaw), 92.6% stake in 223 49.2 6.2 Luxembourg Luxembourg retail trade Investments S.A. Domy Towarowe Centrum S.A. (Warsaw)

Provimi Polska Holding Sp. z o. o. Osnowo - 6 manufacture of food The The companies in Poland (Osnowo, Białystok, 224 Provimi Holding BV 48.0 na products, beverages Netherlands Netherlands Dobrzelin, Jarosław, Olsztynek, Tworóg) - fodder and tobacco production, 60% of shares of Rolimpex S.A.

Credit Lyonnais financial 225 48.0 na France France Credit Lyonnais Bank Polska S.A. (Warsaw) Global Banking intermediation

manufacture of food McLane 226 47.0 na USA USA products, beverages McLane Polska Sp. z o. o. (Błonie) International Inc. and tobacco

manufacture of food The The products, beverages Farm Frites Poland S.A. (Lębork), Farm Frites 227 CEPV 47.0 na Netherlands Netherlands and tobacco, Poland Dwa Sp. z o. o. (Wielka Wieś) agriculture

manufacture of PZ Cussons Polska S.A. (Wrocław), 75% of United United 228 Cussons Group Ltd. 46.8 na chemicals and shares of Fabryka Kosmetyków Pollena - Uroda Kingdom Kingdom chemical products S.A. (Warsaw)

Visteon Automotive Visteon Poland S.A. (Praszka), Polmot ZEM 229 46.0 20.0 USA USA automotive Systems (Duszniki)

manufacture of food 230 Smithfield Foods 46.0 50.0 USA USA products, beverages stake in Animex S.A., SF Holding (Warsaw) and tobacco

Fritidsresor Holding transport, storage and 231 46.0 na Sweden Sweden Scan Holiday Travel Sp. z o. o. AB communication

24 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Wiener Staedtische 62% stake in Compensa Życie S.A., 98.8% stake financial 232 Allgemeine 46.0 10.5 Austria Austria in BTUiR Heros S.A., Towarzystwo Ubezpieczeń intermediation Versicherung AG na Życie Vienna Life S.A.

West Landesbank financial Westdeutsche Landesbank Polska S.A. (Warsaw, 233 45.9 na Germany Germany AG (WestLB AG) intermediation Poznań, Katowice) Sheraton Warsaw 234 45.0 na USA USA hotels and restaurants Sheraton Warsaw Hotel Sp. z o. o. (Warsaw) Cooperation SCA Hygiene manufacture of 235 Products Holding 45.0 200.0 Germany Germany chemicals and SCA Hygiene Poland Sp. z o. o. (Oława) GmbH chemical products

manufacture of other 55% of shares of Cementownia Nowa Huta S.A. 236 Rumeli Group 45.0 58.0 Turkey Turkey non metal goods (Kraków)

wholesale and retail MAN Pojazdy Użytkowe Polska Sp. z o. o., Star MAN Nutzfahrzeuge 237 45.0 19.2 Germany Germany trade, transport Trucks Sp. z o. o. (Starachowice), Man Star Truck AG equipment Sp. z o. o.

manufacture of Kosmepol L'Oreal Sp. z o. o. (Kanie), L'Oreal 238 L'Oreal SA 45.0 50.5 France France chemicals and Polska Sp. z o. o. (Warsaw) chemical products

Josef Klosters KG manufacture of other Klosters Sp. z o. o. (Wrocław), EKOCEM 239 45.0 17.0 Germany Germany St. Hubert non metal goods (Katowice SEZ)

Europa Distribution United United transport, storage and 240 45.0 150.0 Europa Park (Mszczonów near Warsaw) Center Kingdom Kingdom communication

Cosmar Polska Sp. z o. o. (Hyatt Regency 241 Cosmar S. r. l. 45.0 62.0 Italy Italy hotels and restaurants Warsaw Hotel) Skandinaviska 47% stake in Bank Ochrony Środowiska S.A. financial 242 Enskilda Banken 44.6 na Sweden Sweden (Warsaw), SEB Towarzystwo Funduszy intermediation (SEB) Inwestycyjnych S.A. EnBW Energie 33.1% stake in Miejskie Przedsiębiorstwo 243 Baden-Wurtenberg 44.5 na Germany Germany municipal services Energetyki Cieplnej Wrocław S.A. (Wrocław) AG

manufacture of other Ytong Polska Sp. z o. o., cement aggregates plant 244 Readymix Group 44.4 na International International non metal goods in Szczecin, plant in Ostrołęka

manufacture of food Schoeller Polska Sp. z o. o. (Warsaw), plant in 245 Schoeller 43.0 na Germany Germany products, beverages Namysłów and tobacco

Robert Bosch Robert Bosch Sp. z o. o. (Warsaw), Bosch The The machinery and 246 Investment 42.0 na Rexroth Sp. z o. o. (Pruszków), Bosch Security Netherlands Netherlands equipment Nederland B.V. (Warsaw) manufacture of Lek Polska Sp. z o.o. (Pruszków), Zaklad 247 Lek d.d. 41.2 42.5 Slovenia Slovenia chemicals and Farmaceutyczny ARGON S.A. (Łódź) chemical products

Royal Group manufacture of other Royal Europa Sp. z o. o. (Polkowice, Legnica 248 41.0 0.8 Canada Canada Technologies non metal goods SEZ) The The 32.2 % of shares of Howell S.A. (Szczawno 249 ASOBO BV 40.9 na trade and repairs Netherlands Netherlands Zdrój)

United United transport, storage and Energis Polska Sp. z o. o., Cel Polska Sp. z o. o., 250 National Grid Plc 40.8 na Kingdom Kingdom communication Telrise Sp. z o. o.

25 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of food 251 H.J Heinz Company 40.8 na USA USA products, beverages Pudliszki S.A. and tobacco

manufacture of food Pfeifer und Langen Marketing Sp. z o. o. - stake 252 Pfeifer und Langen 40.6 na Germany Germany products, beverages in sugar plants (Środa Wlkp., Kościan, Gostyń and tobacco and Miejska Górka)

Wilhelm Renke manufacture of other Roeben-Ceramika Budowlana Sp. z o. o. (Środa 253 40.0 20.0 Germany Germany Roeben non metal goods Śląska)

manufacture of 16.5% stake in Laboratorium Frakcjonowania 254 Robert Lewis 40.0 na USA USA chemicals and Osocza (EURO-PARK Mielec SEZ) chemical products Optiroc Sp. z o. o. (Warsaw), Optiroc Gniew Sp. manufacture of other 255 Optiroc Group AG 40.0 20.0 Sweden Sweden z o. o. (Gniew), factory in Góra Kalwaria and non metal goods Szczecin OBI OBI Centrala Systemowa Sp. z o. o. (Warsaw), Superhobby Market Budowlany Sp. z o. o., 256 Heimwerkermarkt 40.0 na Germany Germany retail trade Superhobby Dom i Ogród Sp. z o. o. - AG hypermarket chain

Globe Trade Centre S.A. (Warsaw); other investor The The 257 GTC International 40.0 na real estate in GTC are Citibank with USD 3 million and Netherlands Netherlands Bankers Trust with USD 15 million

Energie Baden- power, gas and water 258 Wurttemberg AG 40.0 17.2 Germany Germany 16.6% stake in Elektrownia Rybnik S.A. (Rybnik) supply (EnBW) International transport, storage and 259 Container Terminal 40.0 na Philipines Philipines Bałtycki Kontenerowy Terminal BTC Sp. z o. o. communication Services

Atlas Neeif Holdings United manufacture of other 260 39.2 na Cyprus 90.2% stake in Cementownia Chełm S.A. (Chełm) Ltd. Kingdom non metal goods

The The 261 Bonita Holding B.V. 38.3 na construction Energomontaż Północ S.A. Netherlands Netherlands manufacture of 63% stake in Grodziskie Zakłady Farmaceutyczne 262 Gedeon Ritcher LTD 38.0 10.0 Hungary Hungary chemicals and Polfa Sp. z o. o. (Grodzisk Mazowiecki) chemical products financial 263 HUK Coburg 38.0 na Germany Germany 38% stake in Compensa Życie S.A. intermediation manufacture of rubber Marflex - M. J. Maillis Group Sp. z o. o. 264 M. J. Maillis 37.0 na Greece Greece and plastics (Karczew)

Hiestand Holding manufacture of food Hiestand Polska Sp. z o. o. (Grodzisk 265 37.0 2.0 Switzerland Switzerland AG products Mazowiecki), Hiestand Sp. z o. o. (Kraków)

pulp and paper, 266 Esselte AB 36.1 na Sweden USA publishing Esselte Polska Sp. z o. o. (Kozienice) and printing Interkontakt Group Czech Czech wholesale and retail 66% stake in Polski Handel Spożywczy S.A. 267 36.0 na A.S. Republic Republic trade (Warsaw)

manufacture of pulp Metsa Tissue Metsa Tissue S.A. (Konstancin Jeziorna), Zakłady 268 35.3 86.8 Finland Finland and paper, publishing Papiernicze w Krapkowicach S.A. Corporation and printing

269 MAHLE 35.2 44.0 Germany Germany automotive Mahle Krotoszyn S. A., Mahle Sp. z o. o.

26 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of food Tchibo Frisch Rost Tchibo Warszawa Sp. z o. o. - coffee roasting 270 35.0 na Germany Germany products, beverages plant (Marki) Kaffee GmbH and tobacco

manufacture of Oriflame Poland Sp. z o. o., Oriflame Products 271 Oriflame 35.0 na Sweden Sweden chemicals and Poland Sp. z o. o. - production and trade center chemical products (Ursus near Warsaw) Axel Springer Polska Sp. z o. o. - publisher of publishing magazines: Pani Domu, Auto Świat, Na Żywo, 272 Axel Springer AG 35.0 20.0 Germany Germany and printing Plus, Olivia, Cienie i Blaski, Sekrety Serca, Komputer Świat Kimberly-Clark Poland Holdings Sp. z o. o. Kimberly Clark manufacture of pulp 273 34.0 8.0 USA USA (Warsaw), 99.5% stake in Kimberly-Clark S.A. and paper Worldwide ING (Klucze)

manufacture of other 274 Veka AG 34.0 5.0 Germany Germany Veka Polska Sp. z o. o. (Skierniewice) non metal goods

Poldanor S.A. (Przechlewo, Pomorskie 275 Polen Invest A/S 33.7 15.0 Denmark Denmark agriculture Voivodship)

manufacture of food 85% stake in Lubuska Wytwórnia Wódek 276 Vin & Spirit AB 33.7 na Sweden Sweden products, beverages Gatunkowych Polmos (Zielona Góra) and tobacco

Federal Mogul manufacture of 92.5% stake in Federal-Mogul Gorzyce S.A. 277 Holding 33.6 29.41 Germany Germany transport equipment (Gorzyce) Deutschland GmbH

manufacture of Altana Pharma Sp. z o. o. (Warszawa), ZS Altana 278 Altana Pharma AG 33.3 na Germany Germany chemicals and Pharma Sp. z o. o. (Łyszkowice) chemical products

electrical machinery 75.5% stake in NKT Cables S.A. (Czechowice- 279 NKT Cables A/S 32.7 na Denmark Denmark and apparatus Dziedzice), NKT Cables Warszowice Sp. z o. o.

The The transport, storage and 99.9% stake in Telefony Rzeszowskie TELER 280 EMERITA B.V. 32.6 na Netherlands Netherlands communication S.A. (Mielec)

GKN Driveline 281 32.5 10.0 Germany Germany automotive GKN Driveline Polska Sp. z o. o. (Oleśnica) International GmbH

Plus Warenhandels Plus Discount (Kraków) - network of 282 32.4 60.0 Germany Germany trade and repairs Gesellschaft GmbH hypermarkets

Fagor machinery and 283 32.0 na Spain Spain stake in Wrozamet S.A. (Wrocław) Electrodomesticos equipment

Royal & SunAlliance United United financial 81.8% stake in Towarzystwo Ubezpieczeń na 284 31.9 na Insurance plc Kingdom Kingdom intermediation Życie Royal PBK SA (Warsaw)

70% stake in Sydkraft Złotów Sp. z o. o. (Złotów), 100% stake in Energetyka Cieplna Sp. power, gas and water z o. o. (Czeladź), 100% stake in Sydkraft Poznań 285 Sydkraft AB 31.7 7.4 Sweden Sweden supply Sp. z o. o., 23.2% stake in Ostrowski Zakład Ciepłowniczy, 51% stake in Słupska Energetyka Cieplna

Same Deutz Fahr manufacture of The 286 Holding and Finance 31.7 na Italy machinery and Same Duetz-Fahr Polska Sp. z o. o. (Mełgiew) Netherlands BV equipment

27 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Tokai Rubber manufacture of rubber 287 31.6 5.2 Japan Japan 67.4% stake in TRI Poland Sp. z o. o. (Wolbrom) Industries Ltd. (TRI) and plastics

power, gas and water 288 Elsam A/S 31.2 60.0 Denmark Denmark Wolin North Sp. z o. o. (Szczecin) supply financial 289 Dresdner Bank 31.2 na Germany Germany Bank Powierniczo-Gwarancyjny S.A. intermediation

capital investment in Italian joint ventures financial 290 Simest 31.0 na Italy Italy operating in industry, minority block of shares intermediation of Fiat Auto Poland

Whirlpool Europe machinery and Whirlpool Polska Sp. z o. o. (Warsaw), Polar S.A. 291 30.9 na Italy USA Srl equipment (Wrocław) Bank of Tokyo - The financial Bank of Tokyo - Mitsubishi (Polska) S.A. 292 30.3 37.3 Japan Mitsubishi N.V. Netherlands intermediation (Warsaw) Zakłady Wyrobów Sanitarnych SILESIA Sp. manufacture of other 293 ROCA Radiadores 30.2 2.0 Spain Spain z o. o. (Katowice SEZ), Roca Polska Sp. z o. o. non metal goods (Gliwice)

The The wholesale and retail Nijhof - Wassink Sp. z o. o. (Kutno), Volvo 294 Nijhof Wassink 30.0 5.0 Netherlands Netherlands trade Truck dealer (Nowa Wieś Wielka)

Koramic Building manufacture of other 295 30.0 25.0 Belgium Belgium Wiekor Pokrycia Dachowe Sp. z o. o. (Kunice) Products N.V. non metal goods

community, social and 296 Kinepolis Group 30.0 100.0 Belgium Belgium Kinepolis Polska Sp. z o. o. (Poznań) personal services

manufacture of 297 Aktiebolaget SKF 30.0 2.5 Sweden Sweden machinery and SKF Poznań S.A. (Poznań) equipment

Falck Polska Sp. z o. o., Falck Ochrona Sp. z o. o. (Warsaw), Ratownictwo Falck Sp. z o. o. 298 Group 4 Falck A/S 30.0 3.0 Denmark Denmark business activities (Szczecin), Karderos Sp. z o. o. (Kraków), BWR Serwis Sp. z o. o. (Kraków), Sekuritas Sp. z o. o. (Zielona Góra) manufacture of rubber Hutchinson Poland Sp. z o. o. - two factories in 299 Hutchinson S.A. 30.0 35.0 France France and plastics Żywiec, factory in Łódź

manufacture of other Paroc Polska Sp. z o. o. (Trzemeszno), Nordkalk 300 Paroc Group 29.8 22.0 Finland Finland non metal goods Sp. z o. o.

manufacture of food Millenium Import 301 29.5 1.0 USA USA products, beverages Polmos Żyrardów Sp. z o. o. (Żyrardów) LLC and tobacco

manufacture of fabrics 302 Lee Bell Inc. 29.4 na USA USA VF Polska Sp. z o. o. and textiles

United United manufacture of other 303 Rexam Plc 28.8 na 99.8% Stake in Rexam Szkło Gostyń S.A. Kingdom Kingdom non metal goods

Deutsche Zentral financial 304 Genossenschafts- 28.6 na Germany Germany 97.4% of shares of AmerBank intermediation bank AG (DG Bank)

manufacture of rubber 98.9% stake in Wavin Metalplast - Buk Sp. z o. o. 305 Nordisk Wavin A/S 28.5 na Denmark Denmark and plastics (Poznań)

Sonion Mictrotronic electrical machinery 306 28.1 3.5 Denmark Denmark Sonion Polska Sp. z o. o. (Mierzyn) A/S and apparatus

28 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) The The media and Multikino Sp. z o. o. (M. Investments), Warsaw 307 UCI Multiplex BV 28.0 100.0 Netherlands Netherlands entertainment and Poznań Polimeni 308 28.0 135.0 USA USA real estate Polimeni International Konin Sp. z o. o. (Sopot) International

The The transport, storage and 309 PENNECOM 28.0 40.0 Pilicka Telefonia S.A. (Radom) Netherlands Netherlands communication

manufacture of food 310 Dossche 28.0 na Belgium Belgium products, beverages Dossche Sp. z o. o. (Kalisz) and tobacco

Banco Commercial financial 311 28.0 63.0 Portugal Portugal stake in Bank Millenium S.A. Portugues S.A. intermediation

manufacture of The The 3M Poland Sp. z o. o. (Kajetany near Warsaw), 312 3M Nederland B.V. 28.0 na chemicals and Netherlands Netherlands 3M Poland Sp. z o. o. (Wrocław) chemical products Prudential financial Prumerica Towarzystwo Ubezpieczeń na Życie 313 Insurance Co. of 28.0 na USA USA intermediation S.A. America

R+V Allgemeine financial 88.7% stake in Korporacja Ubezpieczeniowa 314 27.9 na Germany Germany Versicherungs- AG intermediation Filar S.A.

WABCO Europe The The 99.8% stake in Wabco Polska Sp. z o. o. 315 27.8 na transport equipment B.V. Netherlands Netherlands (Wrocław)

manufacture of food 316 Zott GmbH&Co KG 27.5 na Germany Germany products, beverages Zott Polska Sp. z o. o. (Opole) and tobacco

CEDC (Central Carey Agri International Poland Sp. z o. o. European 317 27.3 na USA USA wholesale trade (Warsaw), PWW Sp. z o. o. (Warsaw), MTC Sp. Distribution z o. o. (Białystok), PHA Sp. z o. o. (Zielona Góra) Corporation) Office Depot Wszystko Dla Biura Potamkin Retail Investment International Polska Sp. z o. o. (Janki near 318 27.0 na USA USA retail trade Concepts, Inc. Warsaw, Gdańsk and Kraków) - office equipment supermarkets manufacture of The The 319 Kalon Group BV 27.0 na chemicals and 66.7% stake in Polifarb Cieszyn-Wrocław S.A. Netherlands Netherlands chemical products

manufacture of food The The Leaf Poland Sp. z o. o. (Warsaw) confectionery, 320 CSM NV 27.0 1.6 products, beverages Netherlands Netherlands chewing gum factory (Legionowo near Warsaw) and tobacco

Nationwide Global financial Nationwide Towarzystwo Ubezpieczeń na Życie 321 27.0 na USA USA Holdings Inc intermediation S.A. (Warsaw)

FM Logistic Sp. z o. o. (Mszczonów), FM Silesia Faure Machet (FM) transport, storage and Sp. z o. o. (Tychy), FM Mazovia Sp. z o. o. 322 26.6 na France France Logistic S.A. communication (Tomaszów Mazowiecki), FM Jarosty Sp. z o. o. (Piotrków Trybunalski) Pfleiderer wood and wodden 323 Holzwerkstoffe 26.5 na Germany Germany Pfleiderer Grajewo S.A. products GmbH Co. & KG

29 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

PZM Leier Wytwórnia Materiałów Budowlanych manufacture of other 324 Michael Leier 26.4 4.6 Austria Austria (Malbork), Leier Tarnowskie Zakłady Ceramiki non metal goods Budowlanej S.A. (Wola Rzędzińska)

part of DPTG (Danish Polish Telecommunications Group), investment in fibre optic pipe-line worth transport, storage and 325 GN Great Nordic 26.3 na Denmark Denmark USD 20 million completed together with Tele communication Danmark Internationale AS and Telekomunikacja Polska S.A.

manufacture of food stake in sugar plants: Ropczyce, Łubna, 326 Sudzucker AG 26.2 na Germany Germany products, beverages Przeworsk and tobacco 327 Bayer AG 25.4 2.5 Germany Germany retail trade Bayer Sp. z o. o. (Warsaw) Findlay Industries Findlay Industries Polska Sp. z o. o. (Tomaszów 328 25.3 na USA USA automotive Inc. Mazowiecki)

Sumitomo Electric United SEWS Polska Sp. z o. o. (Leszno), SEWS Cabind 329 Wiring System 25.0 na Japan manufacture of metals Kingdom Poland Sp. z o. o. (Żywiec) Europe Ltd.

GD Poland Distribution Centre Sp. z o. o. (Wólka Sino Frontier 330 25.0 25.0 China China construction Kosowska near Warsaw), Sino Frontier Properties Properties Ltd. Ltd. is a Hong Kong based investor

Lend Lease Central construction, real Wiśniowy Business Park (Warsaw) together with 331 25.0 na Australia Australia Europe estate an American developer Chelverton Properties

manufacture of food 332 L.D.C. S.A. 25.0 2.0 France France products, beverages 98.9% stake in Drosed S.A. (Siedlce) and tobacco

Kurt H. Schumacher pulp and paper, pub- 333 25.0 8.0 Germany Germany Tektura Wrocław Sp. z o. o. (Krępice) A.G. lishing and printing

manufacture of food Hochland Polska Sp. z o. o. (Kazimierz 334 Hochland AG 25.0 na Germany Germany products, beverages Wielkopolski) and tobacco

Dagens Industri publishing 335 25.0 2.5 Sweden Sweden Bonnier Business Polska Sp. z o. o. (Warsaw) Holding AB and printing Wiśniowy Business Park (Warsaw) together with Chelverton construction, real 336 25.0 80.0 USA USA an Australian developer Lend Lease Central estate Properties Europe

337 Arval PHH 25.0 na France France business activities Arval Service Lease Polska Sp. z o. o. (Warsaw)

manufacture of 338 KRKA 25.0 na Slovenia Slovenia chemicals and KRKA Polska Sp. z o. o. (Warsaw) chemical products 99.9% stake in Kopalnia i Zakład Przeróbczy mining and quarrying, 339 Quarzwerke GmbH 25.0 6.0 Germany Germany Piasków Szklarskich "Osiecznica" Sp. z o. o. other non metal goods (Osiecznica) power, gas and water 340 PSEG Global 24.8 320.0 USA USA 35% stake in Elektrownia Skawina (Skawina) supply Viterra Energy 341 24.6 na Germany Germany wholesale trade Viterra Energy Services Sp. z o. o. (Warsaw) Services AG 98.2% stake in Nordea Polska Towarzystwo Tryg-Baltica A/S financial Ubezpieczeń na Życie S.A. (Warsaw), Tryg 342 24.4 na Denmark Denmark (Nordea Group) intermediation Polska Towarzystwo Ubezpieczeniowe S.A. (Radom)

30 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

343 Exide Technologies 24.4 na USA USA automotive 96.8% stake in Centra S.A. (Poznań)

construction, trade 344 ACCIONA 24.3 na Spain Spain 49% of shares of Mostostal Warszawa S.A. and repairs

31.6% stake in Cardif Polska S.A. (Warsaw), financial 345 Cardif S.A. 24.0 na France France 33% stake in Pocztylion-Arka Powszechne intermediation Towarzystwo Emerytalne S.A. (Warsaw)

CPIG (Chicago manufacture of food 346 Poland Investment 24.0 1.0 USA USA products, beverages Browar Namysłów Sp. z o. o. (Namysłów) Group) LLC and tobacco Frankische Plastiks manufacture of rubber Rehau Sp. z o. o. (Przeźmierowo, Poznań, 347 23.6 10.0 Germany Germany GmbH and plastics Katowice, Śrem, Warszawa) The The Levi Strauss Poland Ltd. (Warsaw) - factory in 348 Levi Strauss 23.2 na fabrics and textiles Netherlands Netherlands Płock

The Gates manufacture of rubber 349 23.0 25.0 USA USA 67.67% stake in Gates Polska Sp.z o.o. (Legnica) Corporation Denver and plastics

VALIN 350 23.0 3.0 France France transport equipment Snecma Polska Sp. z o.o. (Sędziszów Małopolski) PARTICIPATIONS

Rethmann - Sanitech Poznań Sp. z o. o. (Tarnowo Podgórne), Rethmann Recycling Sp. z o. o. (Warsaw), 98,9% stake in Rethmann-Szczecin Sp. z o. o., Rethmann Świdnik Sp. z o. o., Lobbe Rethmann Recycling Cleanexpol (Warsaw), Lobbe Bydgoszcz 351 23.0 3.7 Germany Germany community services GmbH (Bydgoszcz), Lobbe Częstochowa (Częstochowa), Lobbe Dąbrowa Górnicza (Dąbrowa Górnicza), Lobbe Lębork (Lębork), Lobbe Opole (Opole), Lobbe Płock (Płock), Lobbe Recycling (Sosnowiec), Lobbe Śląsk (Sosnowiec)

Giacomelli Sport 352 22.9 14.5 Italy Italy trade and repairs Giacomelli Sport Poland Sp. z o. o. Group Spa Teksid Aluminium manufacture of metal Teksid Aluminium Poland Sp. z o. o. (Bielsko- 353 Luxembourg S.a.r.l. 22.6 na Luxembourg USA products Biała) S.C.A.

Glencore 354 22.5 na Switzerland Switzerland trade and repairs Glencore Polska Sp. z o. o. (Jaśkowa Dolina) International AG

manufacture of food Barry Callebaut 355 22.5 0.5 France France products, beverages Barry Callebaut Sp. z o. o. (Łódź) France S.A. and tobacco

manufacture of AGA Gaz Sp. z o. o. (Warsaw) - Polgaz Kościan, 356 AGA AB 22.4 12.0 Sweden Sweden chemicals and Wielkopolskie Voivodship chemical products Qubus Hotel Management (Zielona Góra), Qubus 357 Qubus Hotel System 22.3 64.7 Norway Norway hotels and restaurants Hotel (Gliwice, Gorzów Wikp., Głogów, Legnica, Wałbrzych, Wrocław, Zielona Góra, Złotoryja) 358 Novartis AG 22.2 na Switzerland Switzerland trade and repairs Novartis Poland Sp. z o. o.

Bombardier manufacture of other 90% of shares of Bombardier Transportation 359 22.0 na Canada Canada Transportation transport equipment Polska Sp. z o. o. (Wrocław, Katowice)

31 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) Ahlers Poland Sp. z o. o., Pioneer Jeans Poland, 60% stake in NOVOMEX Sp. z o. o. (all 3 - Opole), Bielkon Sp. z o. o. (Bielsko-Biała), 51% 360 Ahlers AG 22.0 na Germany Germany fabrics and textiles stake in LUBINEX Sp. z o. o. (Lubin), 99% stake in Romero Sp. z o. o. (Zbąszyń), Textil Service Sp. z o. o.

manufacture of 361 Autoliv AB 22.0 na Sweden Sweden Autoliv Polska Sp. z o. o. (Oława, Jelcz) transport equipment

Bertelsmann Media Sp.zo.o. (Warsawa, Plewiska), publishing 362 Bertelsmann AG 21.8 21.0 Germany Germany Bertelsmann Media Klub Świat Książki Sp. z o. o. and printing (Warsaw) Rabobank The The financial 363 International 21.4 na Rabobank Polska S.A. (Warsaw) Netherlands Netherlands intermediation Holding BV

United United manufacture of other Hanson Polska Elewacje Sp. z o. o. (Jankowa 364 Hanson AK i BV 21.3 na Kingdom Kingdom non metal goods Żagańska)

365 Unisys Corporation 21.0 na USA USA trade and repairs Unisys Polska Sp. z o. o. (Warsaw) Centro financial 366 Internationale 20.6 na Austria Austria 25% of shares of Raiffeisen Centrobank S.A. intermediation Handelsbank AG

manufacture of food Gerber Finance 367 20.1 3.6 USA USA products, beverages Alima Gerber S.A. (Rzeszów, Warsaw)) Company and tobacco

Pratt & Whitney Pratt & Whitney Kalisz Sp. z o. o. (Kalisz), 368 20.0 70.0 Canada Canada transport equipment Canada Aerotech Kalisz Sp. z o. o. (Kalisz)

office buildings and hotels, Warimpex - Leasing j.v., Warimpex - Handels, Amber Baltic, City 369 Warimpex 20.0 na Austria Austria construction Shopping Centre, total value of projects c.a. USD 100 million

manufacture of Tenneco Automotive Polska Sp. z o. o. (Warsaw), 370 Tenneco Automotive 20.0 na USA USA transport equipment factories in Rybnik and Gliwice

R.R. Donnelley The The publishing R.R. Donneley Europe Sp. z o. o. - printing house 371 20.0 na International Inc. Netherlands Netherlands and printing (Kraków)

Porr International/ Porr Polska S.A. and Porr International AG 372 20.0 na Austria Austria hotels and restaurants Chopin (Warsaw), Chopin Sp. z o. o. (Kraków)

real estate and business 373 News Corporation 20.0 na USA USA Town & City - outdoor advertisements activities

Hong Kong based Min Hoong Development Co. Min Hoong 374 20.0 20.0 China China hotels and restaurants with investment in Min Hoong Development Co. Development Co. Pte. Ltd. Poland Sp. z o. o. (Sopot)

Millward Brown United United 375 20.0 na business activities SMG/KRC Poland Media S.A. (Warsaw) Group Kingdom Kingdom

manufacture of food Ludwig Czekolada Sp. z o. o. - factory 376 Ludwig Schockolade 20.0 na Germany Germany products, beverages of chocolate in Tuczno, Wielkopolskie Voivodship and tobacco

377 Fortum Oy 20.0 na Finland Finland retail trade Fortum Polska Sp. z o. o. - gas station network

32 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

European 12.5% of shares of Techmex S.A. (Bielsko-Biała), financial 378 Renaissance Capital 20.0 na USA USA 24% stake in Alpinus, investments in construction intermediation L.P. and telecommunications

machinery and DeLaval Sp. z o. o., Delaval Operations Sp. z o. o. 379 DeLaval Holding AB 20.0 na Sweden Sweden equipment (Wrocław) Greenbrier Europe The 380 20.0 na USA transport equipment 98.3% stake in Wagony Świdnica S.A. B.V. Netherlands Heinrich Reflex - Polska Sp. z o. o. (Wąbrzeźno, Kujawsko- manufacture of metal 381 Winkelmann GmbH 20.0 na Germany Germany Pomorskie Voivodship), Winkelmann SP. z o. o. products Co (Legnica SEZ) financial 382 Cetelem S.A. 20.0 na France France Cetelem Polska Expansion S.A. intermediation manufacture of metal Sapa Poland Ltd. (Trzcianka Lubuska, 383 Granges A.B. 19.8 na Sweden Sweden products Wielkopolskie Voivodship) The The financial Z. U. Garda Life S.A. (Warsaw), TUiR Partner 384 Repono Holding BV 19.6 na Netherlands Netherlands intermediation S.A. (Warsaw) Germany manufacture of rubber Uponor Polska Sp. z o. o. (Warsaw), Uponor-Bor 385 Uponor Group 19.0 na Germany Finland and plastics Sp. z o. o. (Sochaczew)

manufacture of food Windjammer The The "LECH Browary Wielkopolski" S.A. - Kompania 386 19.0 na products, beverages Netherlands Netherlands Piwowarska (Poznań) Investments B.V. and tobacco

Podravka manufacture of food Podravka Polska Sp. z o. o. - factory in 387 Prehrambena 19.0 na Croatia Croatia products, beverages Kostrzyńsko-Słubicka SEZ Industrija d.d. and tobacco

manufacture of LG Electronics Polska Sp. z o. o. (Warsaw), LG 388 LG Electronics Inc 19.0 na South Korea South Korea electrical machinery Electronics Mława Sp. z o. o. (Mława) and apparatus, trade

manufacture of Sanofi-Synthelabo 389 18.8 na France France chemicals and Sanofi-Synthelabo Sp. z o. o. (Warsaw) S.A. chemical products

Kimball Electronics electrical machinery 390 18.6 na USA USA Kimball Electronics Poland Sp. z o. o. (Poznań) Manufacturing Inc and apparatus

The The 391 Politra BU 18.6 na wholesale trade 60% stake in Eurocash Sp. z o. o. Netherlands Netherlands Bilfinger und Berger 392 18.5 1.0 Germany Germany construction stake in Hydrobudowa-6 S.A. (Warsaw) Bau AG MVV Polska Sp. z o. o. (Warsaw), MVV EPS power, gas and water Polska Sp. z o. o., MVV Skarżysko-Kamienna, 393 MVV Energie AG 18.4 31.5 Germany Germany supply Szczecińska Energetyka Cieplna Sp. z o. o. (Szczecin) 98.53% stake in Messer Polska Sp. z o. o. manufacture of (Chorzów), branch offices in Warsaw, Poznań, Messer Griesheim 394 18.4 na Germany Germany chemicals and Środa Śląska, Police, Kędzierzyn Koźle. Plants in GmbH chemical products Chorzów, Kędzierzyn Koźle, Police and Środa Śląska

manufacture of food 70% stake in Fabryka Wódek Gdańskich w 395 Belvedere S.A. 18.3 4.0 France France products, beverages Starogardzie Gdańskim S.A. (Starogard Gdański), and tobacco stake in Krakowska Destylarnia Polmos S.A.

manufacture of other 396 NGK Insulators 25.0 Japan Japan NGK Ceramics Polska Sp. z o. o. non metal goods 18.3

33 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Societe Nationale power, gas and water 63.64% stake in Elektrociepłownia Białystok S.A. 397 D'Electricite et de 18.2 62.2 France France supply (Białystok) Thermique (SNET)

transport, storage and Maersk Logistic Polska Sp. z o. o. (Mszczonów 398 Maersk 18.0 na International International communication near Warsaw), Maersk Polska (Warsaw)

Gillette Poland S.A. (Warsaw), Wizamet S.A. 399 Gillette 18.0 120.0 USA USA consumer products (Łódź)

Invesco Polska, Invesco Services, Invesco TFI United financial S.A. (Warsaw), Poczta Polska-Cardiff (Grupa 400 Amvescap Plc 18.0 na USA Kingdom intermediation BNP Paribas) Arka Invesco Powszechne Towarzystwo Emerytalne S.A. (Warsaw)

Czech Czech financial 401 Union Group A.S. 17.8 na 84.3% stake in Bank Przemysłowy S.A. (Łódź) Republic Republic intermediation

manufacture of other stake in Zakłady Przemysłu Wapienniczego 402 Lhoist 17.7 na Belgium Belgium non metal goods Lhoist - Bukowa

Foster Wheeler Energia Polska Sp. z o. o. Foster Wheeler The The manufacture of metals 403 17.6 na (Warsaw), Foster Wheeler Energy Fakop Netherlands Netherlands and metal products Europa B.V. Sp. z o. o. (Sosnowiec)

Wincanton The The transport, storage and Wincanton Trans European Polska Sp. z o. o. 404 European Transport 17.6 na Netherlands Netherlands communication (Piaseczno near Warsaw) Services B.V.

Nomura United 405 17.5 na Japan wholesale trade 15.28% stake in Impexmetal S.A. (Warsaw) International Plc Kingdom International Fast International Fast Food Polska Sp. z o. o. 406 17.5 na USA USA hotels and restaurants Food Corporation (Warsaw) General Logistics Systems The The transport, storage and Raben Group (Gądki), 25.1% stake in Szybka 407 17.4 0.5 International Netherlands Netherlands communication Paczka Sp. z o. o. (Gądki) Holding B.V

The The electrical machinery Elda Szczecinek Elektrotechnika S.A. 408 Polam Holding BV 17.3 na Netherlands Netherlands and apparatus (Szczecinek)

Owens Illinois Polska S.A., stake in Huta Szkła manufacture of other 409 Owens-Illinois Inc. 17.2 25.0 USA USA (Jarosław, Podkarpackie Voivodship), Huta Szkła non metal goods Antoninek (Poznań)

M. Kutsch manufacture of 410 Projectgesellschaft 17.2 25.6 Germany Germany Kirchhoff Polska Sp. z o. o. (SEZ Mielec) transport equipment GmbH 99% of shares of Lajkonik Snacks S.A. (formerly manufacture of food Bahlsen Koncentraty Spożywcze S.A. Skawina), 411 Bahlsen 17.0 11.0 Germany Germany products, beverages Bahlsen Sp. z o. o. (Poznań), Bahlsen Sweet Sp. and tobacco z o. o., Lorenz Bahlsen Snack World Sp. z o. o. (Oława)

Enterprise community, social and Cofinco Poland Sp. z o. o. (Katowice), Landeco 412 Internationale pour 17.0 na Luxembourg Luxembourg personal services Sp. z o. o. (Siemianowice Śl.) I'Environement S.A.

manufacture of rubber Plastal Sp. z o. o. (Gliwice) - investment in 413 Plastal Group AB 16.9 3.0 Sweden Sweden and plastics Katowice SEZ

34 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of food Dr August Oetker Dr Oetker Środki Odżywcze Gdańsk-Oliwa 414 16.8 na Germany Germany products, beverages Sp. z o. o. Nahrungsmittel KG and tobacco

Goodrich Aerospace manufacture of 415 16.6 na Canada Canada BF Goodrich Krosno Sp. z o. o. (Krosno) Canada transport equipment

Kulczyk Tradex Sp. z o. o., 40% stake in Kulczyk Investment The The financial 416 16.5 na Volkswagen Bank Polska S.A., 40% stake in Netherlands Netherlands intermediation BV Volkswagen Leasing Polska Sp. z o. o. Actebis Holding 417 16.5 na Germany Germany trade and repairs ABC Data Sp. z o. o. (Warsaw) GmbH

Mercurat manufacture of metals 99.99% stake in Winkhaus Polska Sp. z o. o. 418 16.4 na Germany Germany Beteilgungs GmbH and metal products (Rydzyna)

manufacture of food United Biscuits United United Zakłady Przemysłu Cukierniczego San S.A. 419 16.4 na products, beverages Kingdom Kingdom (Jarosław) Investments and tobacco

Manuli Rubber Manuli Auto Polska (Katowice SEZ), Manuli 420 16.4 2.9 Italy Italy automotive Industries Hydraulics Polska S.A. (Myslowice)

Ahlstromforetagen electrical machinery 421 16.2 15.5 Sweden Sweden stake in Elda Szczecinek S.A. Svenska Aktiebolg and apparatus

manufacture of leather Tessitura Bresciana Polska Sp. z o. o. (Pionki, 422 Tessitura Bresciana 16.0 1.0 Italy Italy and leather products Mazowieckie Voivodship)

manufacture of United United Vita Polymers Poland Sp. z o. o. (Brzeg Dolny), 423 British Vita Plc 16.0 5.0 chemicals and Kingdom Kingdom polyurethane foam plant (Lublin) chemical products manufacture of pharmaceuticals plant (Kutno), BASF Polska Sp. 424 BASF AG 16.0 5.0 Germany Germany chemicals and z o. o. (Warsaw) chemical products

manufacture of food 425 ABBA Seafood AB 15.9 1.3 Sweden Sweden products, beverages Superfish S.A. (Kołobrzeg) and tobacco

power, gas and water 52.5% stake in Szczecińska Energetyka Cieplna 426 Ruhrgas A.G 15.8 na Germany Germany supply Sp. z o. o. (Szczecin) manufacture of United United 85% stake in Intersilesia Mc Bride Polska 427 Mc Bride plc 15.5 na chemicals and Kingdom Kingdom Sp. z o. o. (Strzelce Opolskie) chemical products Dahl International 428 15.4 na Sweden Sweden wholesale trade Tadmar S.A. (Poznań) AB manufacture of Chemitex Trading United United stake in Alfa Systems Sp. z o. o. (Brzeg Dolny, 429 15.4 na chemicals and Kingdom Kingdom Dolnośląskie Voivodship) Ltd. chemical products

manufacture of food Societe Europeenne 430 15.4 na Italy Italy products, beverages Konserwa Polska Sp. z o. o. (Łódź) De Conserve S.A. and tobacco

Machinery Products International Tobacco Machinery Poland Ltd The The machinery and (ITM POLAND Ltd, Radom), Precision Machine 431 and Development 15.3 na Netherlands Netherlands equipment Parts Poland Ltd (Radom), Aqua Technologies Holding B.V. and Processes Poland Ltd (Radom) Cardif Assurance financial 432 15.3 1.0 France France Cardif Polska S.A. (Warsaw) Risques Divers intermediation

35 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of food 433 Merrild Cafe 15.2 na Denmark Denmark products, beverages Prima S.A. (Poznań) and tobacco

manufacture of metals 434 Logstor Ror A/S 15.2 2.0 Denmark Denmark Logstor Ror Polska Sp. z o. o. (Zabrze) and metal products

70% shares in Onduline Polska Sp. z o. o. 435 Onduline S.A. 15.1 na France France rubber and plastics (Mielec) Plastiques Du Val de manufacture of rubber plastics production facility in Kwidzyn, factory 436 15.1 1.1 France France Loire and plastics in Gliwice, Kwidzyn manufacture of Vogel & Noot 437 15.0 na Austria Austria machinery and VNH - Fabryka Grzejników Sp. z o. o. (Wałcz) Waermetechnik AG equipment Tishman Speyer Tishman Speyer Properties Polska Sp. z o.o. 438 15.0 700.0 USA USA real estate Properties (TSP) (Kraków, Warsaw)

manufacture of metals 439 Mecalux 15.0 na Spain Spain Mecalux Polska Sp. z o. o. (Gliwice) and metal products

Intersnack Knabber manufacture of food 440 Gebaeck GmbH & 15.0 15.0 Germany Germany products, beverages Polsnack Sp. z o. o. (Warsaw), factory in Nysa Co. K.G. and tobacco Intersnack Knabber 441 Gebaeck GmbH & 15.0 na Austria Austria hotels and restaurants Syrena International Sp. z o. o. (Warsaw) Co. K.G. United United manufacture of fabrics Coats Poland Sp. z o. o., Coats Industrial Poland 442 Coats Viyella Plc 15.0 10.0 Kingdom Kingdom and textiles Sp. z o. o. - thread factory in Łódź Premium Packaging pulp and paper, 443 Tiefdruck 15.0 1.5 Austria Austria WALL Kraków Sp. z o. o. publishing and printing Produtions GmbH

444 Herlitz AG Berlin 15.0 na Germany Germany consumer products Herlitz Sp. z o. o. (Baranowo near Poznań)

machinery and Tsubaki Hoower Sp. z o. o., Zakład Elementów 445 Tsubaki Nakashima 15.0 na Japan Japan equipment Tocznych Sp. z o. o. (Kraśnik)

electrical machinery 446 ENERSYS Holding 15.0 2.0 Luxembourg Luxembourg Enersys S.A. and apparatus

manufacture of other Essilor Polonia Sp. z o. o. (Warsaw), Essilor 447 Essilor International 15.0 na France France non metal goods Optical Laboratory Polska Sp. z o. o. (Warsaw)

Stroer Plakat Technic Media Sp. z o. o. (Warsaw), 448 Stroer Group 14.8 na Germany Germany business activities Stroer Polska Sp. z o. o. (Warsaw)

King Cross Group King Cross Sp. z o. o. - shopping centers 449 14.8 83.0 Italy Italy construction SRL (Warsaw, Gdańsk and Łódź) manufacture of 450 Hexal AG 14.7 13.0 Germany Germany chemicals and Hexal Polska Sp. z o. o. (Warsaw) chemical products

manufacture of food 451 Schulstad Brod A/S 14.6 na Denmark Denmark products, beverages Schulstad Sp. z o. o. (Poznań) and tobacco

manufacture of food 452 Orkla Foods A.S. 14.5 1.5 Norway Norway products, beverages Kotlin Sp. z o. o. (Kotlin) and tobacco

36 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) The wholesale and trade Renault Polska Sp. z o. o. (Warsaw), spare parts 453 Renault Group BV 14.5 na France Netherlands and repairs store in Święcice near Warsaw Rossmann Ost The The Rossmann Supermarkety Drogeryjne Polska 454 14.3 na retail trade Europe BV Netherlands Netherlands Sp. z o. o. (Łódź) 455 TelePizza S.A. 14.0 1.0 Spain Spain hotels and restaurants TelePizza Poland Sp. z o. o.

Rautaruukki Polska Sp. z o. o. (Warsaw), manufacture of metal production plant in Katowice and Żyrardów, 456 Rautaruukki OY 14.0 10.0 Finland Finland products 23.6% of shares of Metalplast Oborniki (Oborniki) DBG Eastern Europe (Polska) Sp. z o. o. publishing and DBG Osteuropa (Warsaw), Wydawnictwo Naukowe PWN S.A. 457 14.0 na Germany Germany printing, media and (Warsaw), Print Polska Sp. z o. o. (Warsaw), IM Holding GmbH enterteinment Group Sp. z o. o. (Warsaw)

manufacture of 458 Dana Corporation 14.0 1.8 USA USA WIX-FILTRON Sp. z o. o. (Gostyń) transport equipment

Beverly Hills Vide community, social and 459 14.0 0.5 USA USA Beverly Hills Video S.A. (Warsaw) L.L.C. personal services manufacture of rubber 460 Alpla 14.0 na Austria Austria Alpla Sp. z o. o. - bottle factory (Żywiec) and plastics manufacture of 461 Beloit Corporation 14.0 na USA USA machinery and stake in PMPoland S.A. (Jelenia Góra) equipment

Takata Petri Sp. z o. o. (Wałbrzych SEZ), Takata 462 Takata Petri AG 13.9 na Germany Germany automotive Petri Parts Polska Sp. z o. o.(Krzeszow)

manufacture of Pionki Meble Sp. z o. o. (Mazowieckie 463 FIAAG 13.7 na Germany Germany furniture and Voivodship) consumer goods

464 Rogner GmbH 13.6 na Germany Germany hotels and restaurants Hotel Jan III Sobieski Sp. z o. o. (Warsaw)

waste disposal plant in Gdynia (joint venture with power, gas and water 465 Lentjes 13.5 na Germany Germany Urząd Miasta Gdynia, Zespół Elektrociepłowni supply Gdańsk, OPEC and Sanipor)

financial 466 Berliner Bank AG 13.2 28.8 Germany Germany Berliner Bank Polska S.A. (Warsaw) intermediation manufacture of The The ICI Polska Sp. z o. o. (Warsaw), stake in Polifarb 467 ICI Omicron BV 13.1 na chemicals and Netherlands Netherlands Pilawa S.A. (Pilawa) chemical products

electrical machinery 468 Telect Holdings 13.0 na USA USA Telect Polska Sp. z o. o. (Wrocław) and apparatus

manufacture of Reckitt Benckiser S.A. in Nowy Dwór Maz., 469 Benckiser 13.0 na Germany Germany chemicals and Reckitt Benckiser Poland Sp. z o. o. (Warsaw) chemical products manufacture of rubber KWH Pipe (Poland) Ltd. (Warsaw), plant near 470 KWH Group Ltd. 13.0 2.0 Finland Finland and plastics Bełchatów

manufacture of food 50% stake in Nałęczowianka Sp. z o. o. East Springs The The 471 12.9 7.3 products, beverages (Nałęczów), 85% stake in Zakład Leczniczy Netherlands Netherlands International NV and tobacco Uzdrowisko Nałęczów Sp. z o. o.

Electrolux Poland Sp. z o. o. (Warsaw), 472 Electrolux AB 12.9 na Sweden Sweden trade and repairs Electrolux Production Poland Sp. z o. o. - factory in Siewierz

37 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

50% stake in Bydgoskie Fabryki Mebli, manufacture of Schieder Europa Mazurskie Fabryki Mebli, Słupskie Fabryki Mebli, 473 12.8 na Germany Austria furniture and Helvetia Meble Sp. z o o., 38% stake in Flair Holding GmbH consumer goods Poland Sp. z o. o. (Kobylnica)

Union Caffe manufacture of food The The Coffee roasting plant Elite Poland Sp. z o. o. 474 Confectionary 12.7 na products, beverages Netherlands Netherlands (Tarnowo Podgórne near Poznań) Group BV and tobacco

transport, storage and 50% stake in Masterlink Express Sp. z o. o. 475 La Poste Group 12.7 na France France communication (Warsaw)

machinery and 476 Timken Company 12.5 12.0 USA USA Timken Polska Sp. z o. o. (Sosnowiec) equipment

The The community, social and 477 Golf Investment 12.5 na Mazury Golf & Country Club (Naterki) Netherlands Netherlands personal services

The The Ergon Polska Sp. z o.o. (Mszczonów), Ergon Real 478 Erbet B.V 12.5 50.0 real estate Netherlands Netherlands Estate Poland Sp. z o.o. (Mszczonów)

TRW Steering Systems Poland Sp. z o. o. (Częstochowa), TRW Polska Sp. z o. o. 479 TRW 12.5 na USA USA automotive (Częstochowa), TRW Safety Systems Poland Sp. z o. o. (Częstochowa)

International Water The United power, gas and water 33.2 % of shares of Bielska Spółka Komunalna 480 United Utilities 12.5 na Netherlands Kingdom supply Aqua S.A (Bielsko- Biała) Holding BV

The The 481 KIPI 12.4 na wholesale trade 40% stake in Eurocash Sp. z o. o. Netherlands Netherlands Teresio Guazzone Italian Fashion by Guazzone Sp. z o. o. (Zielonka 482 12.3 na Italy Italy fabrics and textiles Group near Warsaw) financial 91.7% stake in Samopomoc S.A., 51%TU 483 TALANX AG 12.2 na Germany Germany intermediation Samopomoc Życie S.A.

484 Lindab AB 12.2 6.0 Sweden Sweden wholesale trade Lindab Sp. z o. o. (Łomianki near Warsaw)

The The shares in Krakowskie Przedsiębiorstwo Robót 485 Tabella Holding BV 12.1 na construction Netherlands Netherlands Drogowych S.A. (Kraków) business activities, United United 486 ICL 12.1 3.4 manufacture of ICL Poland Sp. z o. o. (Warsaw), Furnel S.A. Kingdom Kingdom furniture

manufacture of metals 487 Rial Aluguss 12.0 na Germany Germany Rial Aluguss Sp. z o. o. (SEZ Tarnobrzeg) and metal products

Legler Polonia Sp. z o. o. (Łódź) - purchase of 488 Legler 12.0 na Italy Italy fabrics and textiles "Bistona" and "Roltex" plants power, gas and water Carbon Black Polska share in "Zakład Sadz 489 Deguss Huls AG 12.0 na Germany Germany supply Technicznych"

Motorola Polska Sp. z o. o. (Warsaw), Motorola electrical machinery 490 Motorola Inc. 12.0 na USA USA Polska Electronics Sp. z o. o. (Kraków), Motorola and apparatus Polska Software Center in Krakow

Inter financial Towarzystwo Ubezpieczeniowe Inter-Fortuna 491 11.8 na Germany Germany Versicherungen intermediation S.A. (Bielsko Biała) wholesale and retail Buderus Technika Grzewcza Sp. z o. o. (Tarnowo 492 Buderus HT 11.7 2.5 Germany Germany trade Podgórne)

38 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of food Lantbrukarnas 19.43% stake in "Sokołów S.A." (Sokołów 493 11.6 na Sweden Sweden products, beverages Podlaski) Ekonomi Aktiebolag and tobacco

Zentis Polska Sp. z o. o. - factory in Żelków near 494 Franz Zentis 11.6 na Germany Germany manufacture of food Siedlce

Overseas Enterprises pulp and paper, pub- 57.6% of shares of Big Carton Sp. z o. o. 495 11.5 150.0 Switzerland Switzerland Company Ltd. lishing and printing (Kliniska near Szczecin)

manufacture of food 496 Indafin Srl 11.5 3.2 Italy Italy products, beverages Inda Polska Sp. z o. o. (Warsaw) and tobacco

Wentworth Amhil Sp. z o. o. (Karlikowo), Wentworth Tech manufacture 497 Technologies Co. 11.5 4.0 Canada Canada Sp. z o. o. (Poniatowa, Lubelskie Voivodeship), of plastics Ltd. Wentworth Tech Central Sp. z o. o. (Bydgoszcz)

manufacture of food stake in Aronia S.A. (Łęczyca, Łódzkie 498 Eckes-Granini Int. 11.4 na Germany Germany products, beverages Voivodship) and tobacco

manufacture of food Kruger Polska Sp. z o. o. (Ostrów Mazowiecka) - 499 Kruger GmbH 11.2 na Germany Germany products, beverages instant food concentrates manufacture, Kruger and tobacco Polska Handel i Eksport Sp. z o. o. (Warsaw)

Rema 1000 Poland Sp. z o. o. (Warsaw) - 500 Reitangruppen A/S 11.1 na Norway Norway retail trade supermarket chain Tomkins Int' The The manufacture of rubber 501 11.0 12.0 32.33% stake in Gates Polska Sp. z o.o. (Legnica) Holding Netherlands Netherlands and plastics manufacture of 502 STO AG 11.0 na Germany Germany chemicals and Sto - ispo Sp. z o. o. (Warsaw) chemical products Hobas Polska Sp. z o. o. (Poznań), Hobas System 503 Hobas Rohre GmbH 11.0 6.0 Germany Germany trade and repairs Polska Sp. z o. o. (Katowice)

504 Gruner +Jahr 11.0 na Germany Germany publishing and printing G+J Gruner+Jahr Polska Sp. z o. o. (Warsaw)

Kerakoll The The manufacture of other 505 11.0 na Kerakoll Polska Sp. z o. o. (Rzgów) International B.V. Netherlands Netherlands non metal goods

manufacture of food Nutreco The The Trouw Nutrition Polska Sp. z o. o. (Grodzisk 506 11.0 na products, beverages Netherlands Netherlands Mazowiecki) International B.V. and tobacco

David S Smith The The pulp and paper, pub- 507 10.7 na 98.3% stake in DS Smith Polska S.A. (Kielce) Netherlands B.V. Netherlands Netherlands lishing and printing

Inter Paper Holding pulp and paper, pub- 508 10.5 na Sweden Sweden Intercell S.A. (Ostrołęka) AG lishing and printing

Inter 25.1% stake in Towarzystwo Ubezpieczeniowe financial Inter Polska S.A. (Warsaw), 47.7% stake in 509 Lebensversicherung 10.5 0.6 Germany Germany intermediation Towarzystwo Ubezpieczeń na Życie Inter-Życie AG Polska S.A.

RMG Regel + power, gas and water Zakład Urządzeń Gazowniczych "Gazomet" 510 10.4 10.4 Germany Germany Messtechnik GmbH supply Sp. z o. o. (Rawicz)

39 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of other 511 Unicon AS 10.3 na Denmark Denmark Unicon Beton Sp. z o. o. (Warsaw) non metal goods

Deutsche Investitions financial Polski Bank Rozwoju, Pioneer Venture Capital 512 und Entwicklungs- 10.3 na Germany Germany intermediation Funds, Maltzerei Baltic Malt gesellschaft GmbH

machinery and Oras Olesno Sp. z o. o. (formerly Standard 513 Oras OY 10.1 na Finland Finland equipment Armatura)

manufacture of metals 514 Seppeler Gruppe 10.0 na Germany Germany Ocynkownia Śląsk (Chrzanów) and metal products

manufacture of other 50% of shares of Bosta Beton (Warsaw), Precon 515 Scancem AB 10.0 na Sweden Sweden non metal goods Polska bought "Jastrobet" in Jastrów

Saxon Steel 80% stake in Saxon STEEL DISTRIBUTION Inc. 516 10.0 na Germany Germany real estate Distribution Sp. z o. o.

manufacture of food Raisio Polska Foods Sp. z o. o. (Karczew near 517 Raisio Group 10.0 na Finland Finland products, beverages Warsaw) and tobacco

P&T Technology power, gas and water 518 10.0 35.0 Germany Germany P&T Polska Sp. z o. o. (Poznań) AG supply financial 519 Orix Corporation 10.0 na Japan Japan Orix Polska S.A. (Warsaw) intermediation 520 Neinver 10.0 4.0 Spain Spain retail trade shopping centre (Warsaw) pulp and paper, pub- Munksjo Packaging Sp. z o. o. - packaging plant 521 Munksjo AB 10.0 6.0 Sweden Sweden lishing and printing in Pruszków near Warsaw

manufacture of food 522 Michel Marbot 10.0 na France France products, beverages Danuta S.A. (Malbork) and tobacco

523 Intermarche 10.0 10.0 France France wholesale trade ITM Polska Sp. z o. o. (Poznań)

manufacture of food 524 Hero 10.0 na International International products, beverages Hero Polska Sp. z o. o. ( Płock) and tobacco

Nico Polska Sp. z o. o. - (Swadzim, Poznań, 525 Gruppo Nico 10.0 na Italy Italy retail trade Kraków) manufacture of rubber 526 Graham Packaging 10.0 6.0 USA USA Masko-Graham Sp. z o. o. (Sulejówek) and plastics

distribution of Conoco Central 527 10.0 10.0 USA USA petroleum products, Conoco Poland Sp. z o. o. (Warsaw) Europe Inc retail trade

manufacture of food 78% stake in Cloetta Fazer Polska Sp. z o. o. 528 Cloetta Fazer AB 10.0 na Sweden Sweden products, beverages (Gdańsk) and tobacco

Chaufourneries de manufacture of other stake in Zakłady Przemysłu Wapienniczego 529 10.0 na Belgium Belgium Hergenrath non metal goods Opolwap (Tarnowo Opolskie)

manufacture of metals 530 Bulten AG 10.0 na Sweden Sweden Bulten Polska S.A. (Bielsko-Biała) and metal products

Bergerat Monnoyeur Bergerat Monnoyeur Sp. z o o. (Warsaw), branch 531 10.0 3.0 France France trade and repairs SAS offices in Poznań, Czeladź, Gdańsk, Wrocław

40 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of Eurofoam Polska Sp. z o. o. (Zgierz, Poznań, The The 532 Eurofoam B.V. 10.0 1.9 chemicals and Gdańsk), Kerko Sp. z o. o. (Rzeszów), Caria Netherlands Netherlands chemical products Sp. z o. o. (Kalwaria Zebrzydowska)

manufacture of 533 Otis 9.9 na Italy Italy machinery and 89% stake in Otis Sp. z o. o. (Warsaw) equipment

70% of shares of Elite Polska Sp. z o. o. manufacture of food (Szczecin), remaining 30% owned by Spółdzielnia Polish Bakery The The 534 9.9 na products, beverages Produkcji Spożywczej Społem - confectionery, Netherlands Netherlands Investment BV and tobacco Polish Bakery Investment is connected with Elite Industries Ltd from Israel

manufacture of metals Sulzer Chemtech Polska Sp. z o. o. 535 Sulzer AG 9.8 0.9 Switzerland Switzerland and metal products (Przeźmierowo)

Nordenia Hungary manufacture of rubber 536 9.8 na Hungary Hungary Nordenia Polska Poznań Sp. z o. o. (Dopiewo) Szada (NHS) and plastics

Nationale The The financial Towarzystwo Ubezpieczeń na Zycie Nationale 537 9.8 na Nederlanden Netherlands Netherlands intermediation Nederlanden Polska S.A. Kuehne&Nagel storage and 538 9.7 na Germany Switzerland Kuhne & Nagel Sp. z o. o. (Gądki) Beteiligungs AG communication United United financial 539 FCE Bank Plc 9.6 na Ford Credit Bank Polska S.A. (Warsaw) Kingdom Kingdom intermediation manufacture of Novo Nordisk 540 9.6 na Switzerland Switzerland chemicals and Novo Nordisk Pharma Sp. z o. o. (Warsaw) Region Europe A/S chemical products

541 GTE International 9.5 na USA USA publishing and printing 51% of shares of Eniro Polska Sp. z o. o.

Model Opakowania Sp. z o. o. (Biłgoraj, pulp and paper, pub- 542 Model Holding AG 9.4 na Switzerland Switzerland Lubelskie Voivodship), Model TekPak Sp. z o. o. lishing and printing (Czosnów) Roltra Morse SpA 543 9.4 1.4 Italy Italy automotive Roltra Morse Poland Sp. z o. o. (Sosnowiec) Torino Alte Leipziger financial stake in Towarzystwo Ubezpieczeniowe Hestia 544 9.3 na Germany Germany Europa AG intermediation Insurance S.A. (Sopot) manufacture of food Malteries Soufflet 545 9.2 na France France products, beverages Słodownia Soufflet Polska Sp. z o. o. (Poznań) S.A. and tobacco

Gerolsteiner manufacture of food 546 Brunnen GmbH & 9.2 na Germany Germany products, beverages Gerolsteiner Polska Sp. z o. o. (Koziegłowy) Co and tobacco

Aluplast Austria manufacture of other 547 9.2 na Austria Austria Aluplast Sp. z o. o. (Poznań) GmbH non metal goods Zakłady Przemysłu Dziewiarskiego "Archimode" 548 Orfama 9.1 3.6 Portugal Portugal fabrics and textiles Sp. z o. o. (Łódź)

financial AGF Ubezpieczenia S.A. (Warsaw), 90% stake 549 AGF 9.1 na France France intermediation in AGF Ubezpieczenia na Życie S.A.

BOS Automotive BOS Automotive Products Polska Sp. z o. o. 550 9.0 3.0 Belgium Belgium automotive Products Belgie NV (Tychy)

pulp and paper, pub- 551 Sical S.A. 9.0 na France France 97% stake in Rawibox S.A. (Rawicz) lishing and printing

41 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Cookson Holdings The The manufacture of other 37.7% stake in Vesuvius Skawina Materiały 552 9.0 na BV Netherlands Netherlands non metal goods Ogniotrwałe Sp. z o. o. (Skawina) United United 553 Xerox Ltd. 9.0 na wholesale trade Xerox Polska Sp. z o. o. (Warsaw) Kingdom Kingdom manufacture of Przedsiębiorstwo Zagraniczne Solco Basel Polska 554 ICN Switzerland AG 9.0 na Switzerland Switzerland chemicals and Sp. z o. o. (Warsaw) chemical products power, gas and water 555 AES Horizons Ltd 9.0 170.0 International International Żarnowiecka Elektrownia Gazowa supply

Cookson Overseas United United manufacture of other 38.3% stake in Vesuvius Skawina Materiały 556 9.0 na Limited Kingdom Kingdom non metal goods Ogniotrwałe Sp.z o.o. (Skawina) Central European Advanced The The manufacture of other 24% stake in Vesuvius Polska Skawina Sp. z o. o. 557 9.0 na Refractory Netherlands Netherlands non metal goods (Skawina) Technology BV 65% stake in Grene Sp. z o. o. (Bydgoszcz, 558 Chr. C. Grene A/S 8.9 1.5 Denmark Denmark wholesale trade Leszno, Konin ) financial Wuestenrot Życie Towarzystwo Ubezpieczeniowe 559 Wuestenrot AG 8.8 na Austria Austria intermediation S.A manufacture of Petrofer Oil and 560 8.8 na Germany Germany chemicals and 51% of shares of Petrofer Polska Chemicals chemical products Toyo Seal Industries manufacture of rubber 561 8.6 na Japan Japan Toyo Seal Poland (Tychy) Co. Ltd. and plastics PIP Managers United United 562 8.5 na construction 50% stake in Polimex-Cekop S.A. Limited Kingdom Kingdom Lisa Draexlmaier DSE Draexlmaier Systemy Elektryczne Sp. z o. o. 563 8.5 1.0 Germany Germany automotive GmbH (Jelenia Góra) Inergy Automotive manufacture of rubber Inergy Automotive Systems Poland Sp. z o. o. 564 8.5 na France France Systems and plactics (Lublin)

565 E. Miroglio Holding 8.5 4.0 Luxembourg Luxembourg retail trade 49% stake in Centrum Moda Sp. z o. o.

566 Brugmann 8.5 na Germany Germany manufacture of plastics Brugmann Polska Sp. z o. o. (Włocławek)

RWE Umwelt 45% of shares of Wrocławskie Przedsiębiorstwo 567 Services Deutschland 8.3 na Germany Germany community services Oczyszczania GmbH manufacture of Terpol Sp. z o. o. (Sieradz), 34% stake in Baxter Healthcare The The 568 8.3 1.5 chemicals and Lubelskie Zakłady Farmaceutyczne Polfa S.A. Netherlands Netherlands Corporation chemical products (Lublin) Reed Elsevier The The publishing 569 8.2 na Wydawnictwo Prawnicze Lexis Nexis Sp. z o. o. Overseas B.V. Netherlands Netherlands and printing YKK Holding 570 8.2 na Japan Japan fabrics and textiles YKK Poland Sp. z o. o. (Pogorzałki) Europe

Suomi Mutual Life financial Towarzystwo Ubezpieczeń na Życie FinLife S.A. 571 8.2 12.6 Finland Finland Assurance Company intermediation (Warsaw)

Credit Suisse First Boston Polska S.A.(Warsaw), Credit Suisse Private financial 572 8.2 na USA USA purchase of 13.15% of shares of Zakłady Metali intermediation Equity Lekkich Kęty S.A. (Śląskie Voivodship)

manufacture of Petro Carbo Chem 41.87% Zaklady Chemiczne Rokita S.A. (Brzeg 573 8.1 na Germany Germany chemicals and Dolny) AG (PCC) chemical products

42 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Interprint Rotations pulp and paper, pub- 574 8.1 17.0 Germany Germany Interprint Polska Sp. z o. o. (Łódź SEZ) Druck GmbH lishing and printing

The The 575 Eli Lilly Nederland 8.1 na trade and repairs Eli Lilly Polska Sp. z o. o. (Warsaw) Netherlands Netherlands ITI Film Studies The The media and 576 8.0 50.0 Multikino Sp. z o. o. (M. Investments) Poland BV Netherlands Netherlands entertainment

manufacture of other 577 Heye & Heinz Glas 8.0 4.0 Germany Germany Huta Szkła Działdowo Sp. z o. o. non metal goods

GTECH 578 8.0 na USA USA business activities Grytek Sp. z o. o. (Warsaw) Corporation manufacture of Fabryka Materiałów Medycznych Polfa S.A. 579 Gerresheimer 8.0 na Germany Germany chemicals and (Bolesławiec, Dolnośląskie Voivodship) chemical products 580 C&M 8.0 8.0 Italy Italy agriculture Greenfarm Sp. z o. o. manufacture of 581 Atofina S.A. 8.0 na France France chemicals and Atofina Polska Sp. z o. o. (Warsaw) chemical products manufacture of PARKER Parker Hannifin Sp. z o. o. (Warsaw, Wrocław, 582 8.0 9.0 Germany Germany machinery and Świebodzice) HANNIFIN GmbH equipment

manufacture of food 583 Rieber and Son ASA 7.9 na Norway Norway products, beverages Rieber Foods Polska S.A. (Włocławek) and tobacco

manufacture of food products, beverages 584 Raiffeisen HaGe 7.8 na Germany Germany Raiffpol Sp. z o. o. (Słupsk) and tobacco, wholesale trade Mitteldeutsche power, gas and water 585 Energieversorgung 7.8 22.2 Germany Germany 69.5% stake in Elektrociepłownia Będzin supply AG (MAEG)

manufacture of food 25.8% stake in Gdańskie Młyny i Spichlerze Dr. 586 Cordesmeyer Franc 7.8 0.5 Germany Germany products, beverages Cordesmeyer Sp. z o. o. (Gdańsk) and tobacco

manufacture of Przedsiębiorstwo Farmaceutyczne Anpharm S.A. 587 Biofarma 7.8 na France France chemicals and (Warsaw), Servier Polska Sp. z o. o. (Warsaw) chemical products manufacture of rubber 588 Georg Utz Holding 7.7 na Switzerland Switzerland Georg Utz Sp. z o. o. (Kąty Wrocławskie) and plastics Colloid Environmental manufacture of other 589 7.7 na USA USA CETCO Poland Sp. z o. o. (Szczytno) Technologies non metal goods Company (CETCO)

manufacture of food 590 Bongrain 7.7 na France France products, beverages 65% of shares of Mleczarnia Turek and tobacco

591 Intel Europe Inc. 7.7 na USA USA business activities Intel Technology Poland Sp. z o. o. (Gdańsk)

50% stake in Masterlink Express Sp. z o. o. 592 Posten AB 7.5 na Sweden Sweden postal services (Warsaw)

593 Pan Smak Pizza Inc. 7.5 10.0 Canada Canada hotels and restaurants pizza resturants 594 Italtriest Group 7.5 3.0 Italy Italy business activities IDEAPIU MAPP (Warsaw)

43 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

HP-Pelzer 595 7.5 2.0 Germany Germany automotive HP Polska (Gliwice, Katowice SEZ) International GmbH

machinery and 596 Sest Luve 7.5 2.0 Italy Italy Sest Luve Polska Sp. z o. o. (SEZ Gliwice) equipment

Thule Sp. z o. o. - factory in Wieleń in 597 Thule Holding AB 7.5 2.0 Sweden Sweden manufacture of metals Wielkopolskie Voivodeship and metal products manufacture of Zakłady Farmaceutyczne BIOWET Sp. z o. o. 598 Vetequinol 7.3 0.6 France France chemicals and (Gorzów Wielkopolski) chemical products manufacture of Mazurskie Meble International, 75% stake in 599 SFM Beteiligungen 7.2 7.9 Germany Germany furniture and Słupskie Fabryki Mebli consumer goods

manufacture of metals 600 Metra 7.2 na Italy Italy Metra Poland Aluminium Sp. z o. o. and metal products

Karosseriewerke 601 7.2 na Germany Germany automotive 49% stake in Sitech Sp. z o. o. (Legnica SEZ) Dresden GmbH Kludi Armaturen machinery and 602 7.1 na Austria Austria Kludi Armaturen Sp. z o. o. (Opole) Austria GmbH equipment 603 Verizon 7.0 na USA USA publishing and printing Polskie Książki Telefoniczne Sp. z o. o. (Warsaw)

604 Telenor 7.0 na Norway Norway publishing and printing Polskie Książki Telefoniczne Sp. z o. o. (Warsaw)

Szwajcarski Fundusz Wielkopolska Giełda Rolno-Ogrodnicza S.A. 605 7.0 na Switzerland Switzerland wholesale trade Rządowy (Poznań)

transport, storage and 606 Staight Crosing 7.0 na Canada Canada 70% of shares in Europort (Gdańsk) communication

manufacture of 607 Solvay 7.0 na Belgium Belgium chemicals and Solvay Chemia Sp. z o. o. (Warsaw) chemical products

Samsung Electronics Samsung Electronics Polska Sp. z o. o. (Warsaw) - 608 7.0 na South Korea South Korea wholesale trade Co. LTD office building and 50 service points

manufacture of food 609 Frosta AG 7.0 2.5 Germany Germany products, beverages Frosta Sp. z o. o. (Bydgoszcz, Warsaw) and tobacco Freudenberg Politex 610 7.0 na Italy Italy fabrics and textiles Freudenberg Politex Sp. z o.o. (Łódź) Srl financial 611 Erste Bank 7.0 na Austria Austria Erste Securities Polska S.A. (Warsaw) intermediation

transport, storage and 612 Mitsubishi Corp. 7.0 na Japan Japan MCTI Polska Sp. z o. o. (Błonie) communication

EDAS CASA/AVIA transport, storage and 51% stake in PZL Warszawa Okęcie S.A. 613 6.9 33.5 Spain Spain System Group communication (Warsaw)

Hochtief AG (Warsaw), 43.7% of shares of Kraków-based Przedsiębiorstwo Instalacji 614 Hochtief AG 6.8 na Germany Germany construction Sanitarnych Cracovia S.A., 95% stake in Poz- Building (Poznań)

Christman & Pfeifer manufacture of 615 Mobelsysteme 6.8 na Germany Germany furniture and C+P Systemy Meblowe (Legnica) - SEZ Legnica GmbH&Co KG consumer goods

44 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) manufacture of Colgate-Palmolive 55% stake in Colgate-Palmolive Poland Sp. z o. o. 616 6.8 na USA USA chemicals and (Halinów near Warsaw) America INC chemical products manufacture of Carbowill Sp. z o. o., Cardigas Polska Sp. z o. o., 617 ACP Europe 6.7 6.25 Belgium Belgium chemicals and ACP Polska Sp. z o. o. (Włocławek) chemical products 46% stake in Głogowskie Przedsiębiorstwo 618 Gelsenwasser AG 6.6 9.7 Germany Germany municipal services Wodociągów i Kanalizacji Sprick-Fahrrader 619 6.5 8.8 Germany Germany transport equipment Sprick-Rowery Sp. z o. o. (Świebodzin) GmbH Siemens Building Siemens Building Technologies Sp. z o. o. 620 6.5 na Switzerland Switzerland construction Technologies AG (Warsaw)

electrical machinery 621 Schneider Electric 6.5 na France France Schneider Electric Polska Sp. z o. o. (Warsaw) and apparatus

stake in Elektromontaż-1 Katowice S.A. 622 Moeller GmbH 6.5 na Germany Germany construction (Katowice), Moeller Electric Sp.z o.o. (Gdańsk)

Lima Industrie 623 6.5 2.0 Lichtenstein Lichtenstein fabrics and textiles 39.5% stake in Dantex Sp. z o. o. (Warsaw) Anstalt network of supermarkets (Kraków, Stalowa Wola, Julius Meinl 624 6.5 6.0 Austria Austria retail trade Zakopane, Tarnów, Sosnowiec, Ostrowiec International AG Świętokrzyski)

manufacture of food Hemelter Muhle 74.2% stake in Gdańskie Młyny i Spichlerze Dr. 625 6.5 na Germany Germany products, beverages Cordesmeyer Sp. z o. o. (Gdańsk) GmbH and tobacco 626 Germanos 6.5 na Greece Greece retail trade Germanos (Warsaw) - 92 sales outlets

manufacture of metals 627 Broen A/S 6.5 1.0 Denmark Denmark Broen DZT S.A. and metal products

Nordica furniture and other Christianapol Fabryka Mebli Tapicerowanych 628 Polstermobel 6.4 na Germany Germany consumer goods Sp. z o. o.(Łowyń) Beteiligung Scanpol 629 6.4 na Denmark Denmark hotels and restaurants Hotel New Skanpol Sp. z o. o. (Kołobrzeg) International ApS Polen Zement 75% of shares of Kombinat Cementowo- manufacture of other 630 Beteiligungsgesell- 6.3 18.8 Germany Germany Wapienniczy Warta S.A. (Działoszyn, Łódzkie non metal goods shaft GmbH Voivodship)

manufacture of food Celia Polska Sp. z o. o., stake in dairy "Fobs" 631 Celia 6.3 na France France products, beverages (Sieraków) and tobacco

pulp and paper, pub- 632 Duni AB 6.3 na Sweden Sweden Duni Poland Sp. z o. o. (Poznań) lishing and printing

Swedfund financial contribution to equity of KZP Kostrzyn - paper 633 6.2 na Sweden Sweden International AB intermediation producer, Nordiska Ekofiber Polska

manufacture of food 634 FmB & Co. KG 6.2 na Germany Germany products, beverages SNP Uśnice Sp. z o. o. (Uśnice) and tobacco

manufacture of Braaten Companies 635 6.2 5.0 USA USA machinery and 44.2% stake in PMPoland S.A. (Jelenia Góra) LLD. equipment Ergom Materie manufacture of rubber 636 6.1 6.0 Italy Italy ER.SI. Poland Sp. z o. o. (Sosnowiec) Plastiche SpA and plastics 637 BIC CLICHY 6.1 na France France consumer products BIC Polska Sp. z o. o. (Warsaw)

45 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Westinghouse Westinghouse Electric Poland Ltd. (Warsaw) - 638 6.0 na USA USA trade and repairs Electric Corporation 40% of shares of Energoserwis S.A. (Lubliniec)

Telediffusion de transport, storage and 639 France International 6.0 na France France Polskie Sieci Nadawcze Sp. z o. o. (Warsaw) communication (TDF)

Summit Motors United United 640 6.0 na automotive Summit Motors Poland Sp. z o. o. (Warsaw) Investment U.K. Kingdom Kingdom 641 Orsa Srl 6.0 9.1 Italy Italy fabrics and textiles Pol-Orsa Sp. z o. o. (Żary) Lurgi Oel Gas 642 6.0 na Germany Germany construction Lurgi Polska S.A. Chemie GmbH leather and leather 643 Condor 6.0 0.5 Italy Italy Arcobaleno Sp. z o. o. (Zielona Góra) products

ADDTEK Holding manufacture of other Consolis Polska Sp. z o. o. (Gorzkowice near 644 5.9 3.0 Finland Finland OY AB non metal goods Piotrków Trybunalski)

manufacture of The The 45% stake in Colgate Palmolive Poland 645 Talego Holding BV 5.8 na chemicals and Netherlands Netherlands Sp. z o. o. (Warsaw) chemical products United United 646 Marks & Spencer 5.8 na trade and repairs Marks & Spencer Sp. z o. o. (Warsaw) Kingdom Kingdom manufacture of rubber 647 Roplasto 5.7 na Germany Germany PCV windows production (Wrocław) and plastics

manufacture of 648 Grundig AG 5.7 na Germany Germany electrical machinery Grundig Polska Sp. z o. o. (Warsaw) and apparatus

B United United machinery and 649 5.7 na Oasis East Sp. z o. o. (Gliwice) INTERNATIONAL Kingdom Kingdom equipment

other transport 650 Ulstein Holding ASA 5.6 2.6 Norway Norway Ulstein Fama Sp. z o. o. (Gniew) equipment manufacture of Nichimen 651 5.6 na Japan Japan machinery and 4.5% stake in NSK Iskra S.A. (Kielce) Corporation equipment 652 Big Star Holding 5.6 na Switzerland Switzerland trade and repairs Big Star Limited Sp. z o. o. (Kalisz) manufacture of 653 US Pharmacia 5.5 na USA USA chemicals and pharmaceuticals production in Wrocław chemical products manufacture of 51% stake in Lubelskie Zakłady Farmaceutyczne 654 Spectra 5.5 na International International chemicals and Polfa S.A. (Lublin) chemical products Pagh Morups 655 Bornekonfektion 5.5 1.0 Denmark Denmark fabrics and textiles PMB Sp. z o. o. (Piła) APS Ovattificio Industrie Maurizio Peruzzo Comfort Sp. z o. o. 656 Resinatura 5.5 na Italy Italy fabrics and textiles (Bielsko-Biała) Valpadana 657 OAO LUKOIL 5.5 50.0 Russia Russia retail trade Lukoil Polska (Warsaw), gas station network

manufacture of food 21.12% stake in "Sokołów" S.A. (Sokołów 658 HK Roukatalo Oyj 5.4 na Finland Finland products, beverages Podlaski) and tobacco

Elsner Products Sp. z o. o., 3 food freezers in 659 Globus 5.4 na Hungary Hungary food procesing Lipno, Dąbrowa Chełmińska and Adamowo; refrigerator in Ełk

46 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Total Fina Elf Polska Sp. z o. o. (Warsaw), Elf 660 Total Fina ElF S.A. 5.4 na France France trade and repairs Lubricants (Nowy Dwór Mazowiecki)

Nordic Environment pulp and paper, Intercell S.A. (Ostrołęka), Partek Paroc Polska 661 Finance Corporation 5.4 0.9 Finland Finland publishing Sp. z o. o. (Trzemeszno), Foster Wheeler Energy (NEFCO) and printing Fakop Sp. z o. o. (Warsaw)

manufacture of rubber 662 Arot AB 5.3 na Sweden Sweden Arot Polska Sp. z o. o. (Leszno) and plastics

manufacture of food 50% stake in Cereal Partners Poland Toruń- 663 General Mills Inc. 5.2 na USA USA products, beverages Pacific Sp. z o. o. (Toruń) and tobacco

Boart Longyear The The machinery and 664 5.1 1.4 Boart Longyear Sp. z o. o. (Złotoryja) International BV Netherlands Netherlands equipment Selective American financial 665 Financial 5.1 na USA USA stake in GE Capital Bank S.A. (Gdańsk) intermediation Enterprises

Ballinger Holdings financial 666 5.1 na Cyprus Cyprus 50% stake in BRE Private Equity Sp. z o. o. Ltd. intermediation Gerling Konzern financial Gerling Polska Towarzystwo Ubezpieczeń S.A. 667 Allgemeine 5.0 na Germany Germany intermediation (Warsaw), ATU Sp. z o. o. (Warsaw) Versicherungs AG

manufacture of food 70.1% stake in Podlaska Wytwórnia Wódek 668 Peacock Corporation 5.0 1.5 USA USA products, beverages Polmos S.A. (Siedlce) and tobacco

Glaverbel Polska Sp. z o. o., Glaverbel Wiglav Czech Czech manufacture of other S.A., Glaverbel Szkło-Glav Sp. z o. o., Glaverbel 669 Glaverbel Czech A.S. 5.0 na Republic Republic non metal goods Silesia, Glaverbel Balticglav Sp. z o. o., Glaverbel Kwarcglav Sp. z o. o. TLH Verwaltungs- wood and wooden TLH Polska Sp. z o. o. (Białe Błota near 670 5.0 na Austria Austria und Beteiligungs products Bydgoszcz) Spedition Trade transport, storage and Przedsiębiorstwo Spedycyjne Trade Trans 671 Trans Holding 5.0 1.0 Germany Germany communication Sp. z o. o. (Warsaw) GmbH 672 Schrader 5.0 na Germany Germany transport and storage Logistic Centre Schrader Interlog (Poznań)

The The machinery and 673 Schmidt Holland BV 5.0 na Schmidt Polska Sp. z o. o. (Kielce) Netherlands Netherlands equipment S&T System Integration & 674 5.0 na Austria Austria business activities S&T Polska Sp. z o. o. (Warsaw) Technology Distribution AG Polish-Pre-Ipo 675 5.0 na Luxembourg Luxembourg business activities ATM S.A. (Warsaw) Luxemburg

manufacture of food Nutricia Sp. z o. o. (Warsaw and Opole), 66% The The 676 Royal Numico N.V. 5.0 na products, beverages of shares of Okręgowa Spółdzielnia Mleczarska Netherlands Netherlands and tobacco (Węgrów, Mazowieckie Voivodship)

677 Marriott 5.0 na USA USA hotels and restaurants Hotel Marriott (Warsaw)

manufacture of other 678 MAPEI S.p.A. 5.0 3.0 Italy Italy MAPEI Polska Sp. z o. o. (Warsaw) non metal goods

47 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of other 679 Klingspor GmbH 5.0 na Germany Germany Union-Vis Sp. z o. o. (Bielsko-Biała) non metal goods

EKO-RAD in Radom, Europenne de Service 680 EdS 5.0 16.0 Belgium Belgium municipal services Poland (Warsaw) publishing Cox Poland Investments, 10.3% stake in Agora 681 Cox Enterprises, Inc. 5.0 na USA USA and printing S.A. Chr. Hansen Poland Sp. z o. o. (Cząstków 682 Chr. Hansen A\S 5.0 na Denmark Denmark wholesale trade Mazowiecki)

real estate and Centrum Systemów Informatycznych -"Centre 683 Apcon 5.0 na Germany Germany business activities of Information Systems" (Tarnowo Podgórne)

Agro East Europe The The Agro East Europe Sp. z o. o. (Łupawa, Pomorskie 684 5.0 na agriculture BV Netherlands Netherlands Voivodship) Superior manufacture of metals 685 International 5.0 na USA USA FCPK - Bytów Sp. z o. o. (Bytów) and metal products Resources Inc.

Norbert Kreisel manufacture of other 88.5% stake in Kreisel Technika Budowlana 686 5.0 3.0 Germany Germany GmbH & Co non metal goods Sp. z o. o. (Poznań, Katowice, Zgierz)

Plati electrical machinery 687 5.0 2.0 Italy Italy Plati Polska Sp. z o. o. (Kwidzyn) Elettroforniture Spa and apparatus

manufacture of food 688 A.Espersen A/S 5.0 na Denmark Denmark products, beverages Espersen Polska Sp. z o. o. (Koszalin) and tobacco

manufacture of food Henkell&Sohnlein 689 4.9 na Germany Germany products, beverages Toruńskie Piwnice Win Vinpol Sp. z o. o. (Toruń) KG and tobacco

Fina Grain manufacture of food Compagnie 690 4.9 na Switzerland Switzerland products, beverages shareholder of Opolskie Zakłady Drobiarskie Commerciale and tobacco Financiere CF Gomma The The 691 4.8 na automotive CF Gomma Sp. z o. o. (Częstochowa) Nederland Netherlands Netherlands United 692 Kodak Ltd. 4.7 na Japan retail trade, repairs Foto World Sp. z o. o. (Warsaw) Kingdom

manufacture of metals Alutec Sp. z o. o. (Stalowa Wola, SEZ 693 Lothar Thoni 4.6 na Ireland Germany and metal products Tarnobrzeg)

manufacture of other 694 Sika Finaz AG 4.5 1.0 Switzerland Switzerland Sika Poland Sp.z o.o. (Warsaw) non metal goods

manufacture of Air Products Polska Sp. z o. o. (Katowice, Góra 695 Prodair Corporation 4.5 na USA USA chemicals and Kalwaria), Air Products Polska Tlenownia chemical products (Zawiercie)

696 Oracle Corporation 4.5 na USA USA business activities Oracle Polska Sp. z o. o. (Warsaw)

Muscle Machine manufacture 697 4.5 0.5 Sweden Sweden Marmite International S.A. (Palędzie) Sweden of plastics

manufacture of food Land O'Lakes Inc., Land O'Lakes Agra Sp. z o. o. 698 Land O'Lakes Inc. 4.5 na USA USA products, beverages (Warsaw), 52% stake in ICC Pasłęk Ltd. and tobacco

48 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) Finnish Fund for Industrial financial Intercell S.A. (Ostrołęka), Partek Paroc Polska 699 4.5 0.2 Finland Finland Cooperation intermediation Sp. z o. o. (Trzemeszno) (Finnfund) 700 Bianca Modern 4.5 na Germany Germany fabrics and textiles Bianca Polska Sp. z o. o. (Elbląg) publishing Seregni Agpol Sp. z o. o. and Seregni Printing 701 Seregni SpA 4.4 na Italy Italy and printing Group Sp. z o. o. (Warsaw) Wojcieszowskie Zakłady Przemysłu Rheinkalk GmbH & manufacture of other 702 4.4 na Germany Germany Wapienniczego Sp. z o. o. (Dolnośląskie non metal goods CO. KG Willfroth Voivodeship)

Filatura e Tessitura 703 4.3 na Italy Italy fabrics and textiles Tollegno 1900 Poland Sp. z o. o. (Łódź) di Tollegno SpA

ARLA FOODS Arla Foods Sp. z o. o. - factory in Gościno near 704 4.3 na Denmark Denmark manufacture of food AmbA Kołobrzeg manufacture of L. Molteni & C.dei 705 4.2 1.5 Italy Italy chemicals and Molteni Farmaceutici Polska Sp. z o. o. (Kraków) F.lli Alitti SpA chemical products

706 Italmatch Srl 4.2 na Italy Italy consumer products Euromatch Sp. z o. o. (Bystrzyca Kłodzka) E. Hawle machinery and 707 Armaturenwerke 4.2 na Austria Austria Fabryka Armatury Hawle Sp. z o. o. (Poznań) equipment GmbH

distribution of 708 AGIP Petroli SpA 4.2 8.5 Italy Italy petroleum products, Agip Polska S.A. (Warsaw) retail trade

STIHL International manufacture of metals Andreas Stihl Sp. z o. o. - plant in Sady near 709 4.2 na Germany Germany GmbH and metal products Poznań

Caisse Centrale de financial 28.55% stake in Bank Inicjatyw Społeczno 710 4.1 na France France Credit Cooperatif intermediation Ekonomicznych S.A. (Warsaw)

manufacture of rubber 711 Cebal S.A.S. 4.1 na France France 62.5% stake in Cebal Tuba (Łódź) and plastics

Crystal Clear manufacture of other 49.5% stake in Sudety Crystal Works Sp. z o. o. 712 4.1 na USA USA Industries Inc. non metal goods (Szczytna)

713 Nesky Inc. 4.0 na USA USA wholesale trade 95% stake in Nesky Poland Sp. z o. o. (Kraków)

manufacture of Martin Bauer 714 4.0 na Germany Germany chemicals and Zakład Zielarski Herbapol (Klęka near Poznań) GmbH chemical products Marquard Media publishing 715 4.0 na Switzerland Switzerland VIPress Sp. z o. o. AG and printing

Polinvest Sp. z o. o. (Gdynia-Orłowo), Klif 716 Klif Holding A/S 4.0 na Norway Norway construction shopping centres in Gdynia and Warsaw

76% stake in insurance company Inter-Fortuna financial 717 Inter Group 4.0 na Germany Germany SA, 64% stake in life insurance company Inter- intermediation Fortuna Życie 718 Hamelin Group 4.0 na France France consumer products Bantex Poland Sp. z o. o. (Błonie)

manufacture of Maszyny Elektryczne Celma S.A. (Cieszyn), 20% Interelektra Holding 719 4.0 na Luxembourg Luxembourg electrical machinery stake in Indukta S.A. (Bielsko Biała), Emit S.A. S.A. and apparatus (Żychlin, Łódzkie Voivodship)

49 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

electrical machinery 720 Festo GmbH 4.0 na Austria Austria Festo Sp. z o. o. (Janki) and apparatus

Magnaplast manufacture of rubber Magnaplast Sp. z o. o. - factory in Sieniawa 721 Hausabflustechnik 4.0 1.0 Germany Germany and plastic products Żarska GmbH manufacture of rubber 722 PACTIV Corp. 4.0 na USA USA Pactiv Sp. z o. o. (Pyskowice) and plastics Steinhoff Europe ICM Meble Sp. z o. o. - factory in Wołów 723 4.0 na Switzerland Switzerland consumer products AG (Dolnośląskie Voivodeship)

724 Elopak Denmark AS 3.9 na Denmark Denmark rubber and plastics Elopak Sp. z o. o. (Czosnów near Warsaw)

manufacture of 725 Paul Hartmann AG 3.9 na Germany Germany chemicals and Paul Hartmann Polska Sp. z o. o. (Pabianice) chemical products

Berger Breitgewebe manufacture of 726 3.8 na Germany Germany Berger Sp. z o. o. (Częstochowa) International GmbH textiles

Baumann 727 3.8 na Germany Germany construction Baumann Mostostal Sp. z o. o. (Siedlce) Bautechnik GmbH manufacture of 728 Wesermo 3.8 na Luxembourg Luxembourg furniture and AIDA Sp. z o. o. (Oleśnica) consumer goods

manufacture of food Sektkellerei Schloss 729 3.8 na Germany Germany products, beverages stake in AMBRA S.A. (Biłgoraj) Wachenheim AG and tobacco

leather and leather 730 La Fourmi 3.8 na France France La Fourmi Polska Sp. z o. o. (Skierniewice) products 731 Go Sport 3.8 na France France trade and repairs Go Sport Polska (Warsaw)

manufacture of metals 732 Sandvik AB 3.8 5.2 Sweden Sweden Sandvik Baildonit S.A. and metal products

Gillingham Portland United United manufacture of other 733 Cement Company 3.8 na stake in Cementownia Chełm S.A. (Chełm) Kingdom Kingdom non metal goods Limited manufacture of Hans Grohe 734 3.7 1.5 Germany Germany machinery and Hans Grohe Sp. z o. o. (Tarnowo Podgórne) International equipment

Miebach Projekt manufacture of other 735 3.6 18.0 Germany Germany 80% stake in Cementownia Odra S.A. (Opole) GmbH non metal goods

manufacture of food 47.66% stake in Drobimex-Heinz Sp. z o. o. 736 Lohmann AG 3.6 1.3 Germany Germany products, beverages (Szczecin) and tobacco manufacture of 737 DreamLand 3.6 2.0 Denmark Denmark furniture and Hilding Polska Sp. z o. o. (Murowana Goślina) consumer goods CeWe Color Sp. z o. o. (Kędzierzyn-Koźle, 738 CeWe Color 3.6 5.0 Germany Germany trade and repairs Grudziądz, Warsaw) 739 BMW Group 3.6 na Germany Germany trade and repairs BMW Polska Sp. z o. o.

A/S Roulunds manufacture of other 80% stake in Fabryka Okładzin Ciernych Fomar 740 3.6 2.2 Denmark Denmark Fabriker non metal goods Roulunds S.A.

manufacture of other 741 Uzin UTZ AG 3.5 0.9 Germany Germany Uzin Polska Sp. z o. o. (SEZ Legnica) non metal goods

50 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

United community, social and 742 3.5 na USA USA "Atomic Świat Rozrywki" (Kraków) Entertainment personal services TNT Express Worldwide Poland Sp. z o. o. 743 TNT Post Group 3.5 1.0 Australia Australia transport and storage (Warsaw) 744 Stora AB 3.5 1.0 Sweden Sweden wholesale trade Papyrus Sp. z o. o. (Poznań)

pulp and paper, pub- 745 OTOR 3.5 5.0 France France 85% of shares of Otor Silesia S.A. (Tychy) lishing and printing

International manufacture of fabrics 746 Ducatel 3.5 150.0 France France 51% of shares of Poltex (Łódź) and textiles Development

Hanyang Precision rubber and plastics, 747 3.5 na South Korea South Korea Hanyang Sp. z o. o. (Świdnik) Co. Ltd. transport equipment The The 748 Ceneu Pizza BV 3.5 15.0 hotels and restaurants PizzaExpress Polska Sp. z o. o.(Piaseczno) Netherlands Netherlands

manufacture of food Caribbean Distillers United United 749 3.5 1.7 products, beverages 85% stake in Polmos Łańcut S.A. (Łańcut) Kingdom Kingdom Corporation Ltd. and tobacco

Budzinsky + Hor 85% of shares of wool factory POLPLED 750 3.5 0.4 Germany Germany fabrics and textiles GmbH + Co Sp. z o. o. (Białystok) CAP Gemini Ernst&Young Polska Sp. z o. o. 751 CAP Gemini S.A. 3.5 na France France business activities (Warsaw) manufacture of 752 Kemira Kemi AB 3.5 na Sweden Sweden chemicals and 51% stake in Kemipol Sp. z o. o. (Police) chemical products Metallurgica Assemblaggi manufacture of metals stake in Zakłady Wyrobów Metalowych SHL S.A. 753 3.4 na Italy Italy Carpenterie (MAC) and metal products (Kielce) SpA The The 754 IVECO N.V. 3.4 9.9 trade and repairs IVECO Poland Sp. z o. o. (Warsaw) Netherlands Netherlands GiroCredit Bank financial 40% stake in Erste Securities Polska S.A. 755 3.4 na Austria Austria AG intermediation (Warsaw) manufacture of 756 Dyrup 3.4 na Germany Germany chemicals and Dyrup Sp. z o. o. (Łódź) chemical products

BM Industria manufacture of rubber 757 3.4 na Italy Italy BM Polska Sp. z o. o. (Kwidzyń) Bergamasca Mobili and plastics

The The leather and leather 758 Sara Lee D/E N.V. 3.4 na Bama Polska Sp.z o.o. (Gorzów Wielkopolski) Netherlands Netherlands products

Franke Deutschland manufacture of metals Franke Polska Sp. z o. o. (Nowy Sękocin, Franke- 759 3.4 na Germany Germany Holding GmbH and metal products Gastopol Sp. z o. o. (Gdynia)

manufacture of KS Holding 760 3.3 na Switzerland Switzerland chemicals and Swisspor Polska Sp. z o. o. (Chrzanów) Hergiswil AG chemical products The The manufacture of rubber 761 Wavin Trepak BV 3.2 na Wavin Trepak Poland (Bytom) Netherlands Netherlands and plastics

manufacture of food Paul Wesjohann & 41.93% stake in Drobimex - Heintz Sp. z o. o. 762 3.2 1.1 Germany Germany products, beverages (Szczecin) Co. GmbH II and tobacco

manufacture of rubber 763 Nibco Inc. 3.2 na USA USA Nibco Sp. z o. o. (Łódź) and plastics

51 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

electrical machinery "CHIFA" Sp. z o. o. (Nowy Tomyśl, 764 Aesculap AG 3.2 3.0 Germany Germany and apparatus Wielkopolskie Voivodship)

C.E.M.O.M. - manufacture of metals 765 3.2 0.4 France France 51% Pol-Soft Sp. z o. o. (Złotów) MOATTI and metal products

766 Hachette Livre S.A. 3.1 na France France publishing and printing Hachette Filipacchi Polska Sp. z o. o. (Warsaw)

Stadtwerke Leipzig power, gas and water 767 3.1 1.0 Germany Germany Zakłady Energetyki Cieplnej Sp. z o. o. (Tczew) GmbH supply manufacture of Przedsiębiorstwo Zagraniczne Catzy Sp. z o. o. 768 Catzy 3.1 na Sweden Sweden chemicals and (Wesoła near Warsaw) chemical products

manufacture of United United Arcon Industrial Service Corporation Sp. z o. o. 769 Arcon 3.1 1.0 electrical machinery Kingdom Kingdom (Warsaw) and apparatus

Elanders Infoprint publishing 770 3.0 3.0 Sweden Sweden Elanders Polska Sp. z o. o. (Płońsk) AB and printing 771 YellowTel.com 3.0 2.0 Denmark Denmark business services YellowTel Polska Sp. z o. o. (Warsaw)

manufacture of metals 772 Voigt & Schweitzer 3.0 na Germany Germany 75% stake in Ocynkownia Pokój Sp. z o. o. and metal products

Shiptrans Holding furniture and Scanwood Sp.z o.o. (Mierzyn near Szczecin), 773 3.0 4.0 Denmark Denmark A/S consumer goods Scanwood (Dębno), Scanwood (Słońsk)

774 Saspol 3.0 na Turkey Turkey real estate Centrum Handlowo-Biurowe Saspol (Łódź)

Pentor publishing and co-owner of Warsaw Voice, Uroda, Instytut 775 Communication 3.0 na USA USA printing, media, Badania Opinii Publicznej Pentor, Pentor Film International business activities

pulp and paper, pub- 776 Neupack GmbH 3.0 na Austria Austria Neupack Polska Sp. z o. o. (Bydgoszcz) lishing and printing

Merloni manufacture of other Merloni Termosanitari Polska Sp. z o. o. 777 3.0 2.0 Italy Italy Termosanitari SpA non metal goods (Kraków)

electrical machinery 778 MacoPharma 3.0 22.0 France France Maco Pharma Polonia Sp. z o. o. (Poznań) and apparatus

779 Kochloeffel GmbH 3.0 na Germany Germany hotels and restaurants Kochloeffel Polska Sp. z o. o. (Katowice) 780 Herz 3.0 3.0 Austria Austria wholesale trade "Herz Armatura i Systemy Grzewcze" Feu Vert Polska Sp. z o. o. (Warsaw), Feu Vert 781 Feu Vert S.A. 3.0 na France France trade and repairs Auto Centrum (Warsaw, Szczecin, Katowice, Łódź) media and 782 Eurocast Italia 3.0 na Italy Italy 59.4% stake in Fincast Sp. z o. o. (Warsaw) entertainment 783 Decathlon S.A. 3.0 6.0 France France trade and repairs Decathlon Sp.z o.o. (Warsaw) automotive, manufacture of rubber 784 CF Gomma SpA 3.0 na Italy Italy and plastics, CF Gomma Sp. z o. o. (Częstochowa) manufacture of metal products Central European manufacture of metals 74% of shares of Slag Recycling Sp. z o. o. 785 Recovery Holdings 3.0 na USA USA and metal products (Kraków) LP

52 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of parts and accessories for 786 Caterpillar Inc. 3.0 37.5 USA USA Caterpillar Poland Sp. z o. o. (Janów Lubelski) motor vehicles and their engines

787 Bougues 3.0 12.0 France France construction Bougues Polska S.A. (Warsaw) 788 Bata Shoes 3.0 1.0 Canada Canada retail trade Bata Polska Sp. z o. o. (Warsaw)

Ensto Aspol Sp. z o. o. (Gdańsk), branch offices 789 ENSTO SEKKO OY 3.0 na Finland Finland community services in Krakow, Łódź, Poznań, Warsaw.

99.3% stake in Zakłady Mięsne Morliny S.A. manufacture of food (Ostróda, Warmińsko-Mazurskie Voivodship), Campofrio 790 3.0 na Spain Spain products, beverages PUH Transport - Morliny Sp. z o. o. (Morliny), Alimentacion S.A. and tobacco PHU Detal-Morliny Sp. z o. o. (Morliny), Rawena-Morliny S.A.

United United 791 Ryan Ltd 3.0 na community services Gwarex-Ryan Poland Sp. z o. o. (Katowice) Kingdom Kingdom

community, social 51% of shares of Saur Neptun Gdańsk S.A. 792 Saur International 2.9 na France France and personal services (Gdańsk)

793 Leca 2.9 na USA USA automotive investment in Katowice SEZ "Hollas" Sp. z o. o. (Pasłęk), "Andrilla" Sp. z o. o. 794 Holdes NV 2.9 1.1 Belgium Belgium agriculture (Warsaw)

Friedrich manufacture of food Baltic Malt Sp. z o. o. (Gdańsk) - malt production 795 Weissheimer 2.9 na Germany Germany products, beverages plant in Gdańsk Maltzfabrik KG and tobacco Alliance Capital Management financial "Przymierze" Towarzystwo Funduszy 796 2.9 na USA USA Corporation of intermediation Powierniczych S.A. (Warsaw) Delaware machinery and 797 Trepko A/S 2.8 na Denmark Denmark Trepko Sp. z o. o. (Gniezno) equipment machinery and 75% of shares of Wytwórnia Pomp 798 Valfond 2.8 15.0 France France equipment Hydraulicznych S.A. (Wrocław)

Twentshe Kabel The The transport, storage and 799 2.8 na C & C Partners Telecom Sp. z o. o. (Leszno) Holding Netherlands Netherlands communication

electrical machinery 800 Sylea Italia Srl 2.8 na Italy Italy Sylea Poland Sp. z o. o. (Czechowice-Dziedzice) and apparatus

801 Spedimpex 2.8 na Germany Germany transport and storage logistics center in Łódź

manufacture of food 802 Konecke 2.8 na Germany Germany products, beverages Konecke Sp. z o. o. (SEZ Kostrzyń-Słubice) and tobacco

803 Harris 2.8 na Austria Austria retail trade PHU Domar S.A. (Łódź)

Europar-Ven manufacture of food 804 Company 2.8 na Lichtenstein Lichtenstein products, beverages Eurovita Sp. z o. o. (Poznań) Establishment and tobacco

Cartotechniche publishing Cartotecnica Polska (formerly Zakłady 805 2.8 1.5 Italy Italy Chierese e Tiferante and printing Poligraficzne in Katowice)

806 BST 2.8 10.0 Israel Israel real estate Asbud Piaseczno Sp. z o. o.

53 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

The The manufacture of metals Brugman Fabryka Grzejników Sp. z o.o. 807 Brugman 2.8 na Netherlands Netherlands and metal products (SEZ Legnica)

manufacture of food Terravita Holding products, beverages 808 2.7 15.2 Lichtenstein Lichtenstein Terravita Sp. z o. o. (Poznań) Establishment and tobacco, wholesale trade

Sicpa Commercial manufacture of 809 Inks Holding (Lux) 2.7 na Luxembourg Luxembourg chemicals and Sicpa Polska Sp. z o. o. (Marki) S.A. chemical products The The 810 QAD Europe B.V 2.7 0.5 business activities QAD Polska Sp. z o. o. (Wrocław, Elbląg) Netherlands Netherlands

Strada Sp. z o. o. (Środa Wielkopolska), Pribek 811 Colas S.A. 2.7 na France France construction Sp. z o. o. (Koszalin), PDB Palędzie (Palędzie)

manufacture of metals 812 Bekaert NV 2.7 na Belgium Belgium Bekaert - Kotlarnia Sp. z o. o.(Kotlarnia) and metal products

manufacture B.I.P. Byars Industries Poland Sp. z o. o. 813 Adrenatio 2.7 na Germany Germany of plastics (Reginów) The The 814 Hagemeyer N.V. 2.6 na trade and repairs EL-Centrum S.A. (Poznań) Netherlands Netherlands

GE Power Controls 815 2.6 na Belgium Belgium trade and repairs EL-Centrum S.A. (Poznań) Belgium BVBA

manufacture of food Conrad Jacobson 11.48% stake in "Sokołów" S.A. (Sokołów 816 2.6 na Germany Germany products, beverages Podlaski) GmbH and tobacco

financial 45.1% of shares of Bank Własności Pracowniczej 817 Unibank A/S 2.6 na Denmark Denmark intermediation BWP-Unibank S.A. (Gdańsk)

818 Sven von der Heyden 2.6 50.0 Germany Germany hotels and restaurants Von der Heyden Group Sp. z o. o. (Warsaw)

manufacture of rubber 819 SAIAG SpA 2.6 4.7 Italy Italy SAIAG Polska Sp. z o. o. in Piotrków Trybunalski and plastics Pioneer financial 75% stake in Pioneer Polski Dom Maklerski 820 International 2.6 na USA USA intermediation (Warsaw) Corporation

manufacture of rubber Metzeler Automotive Profile Systems Piotrków 821 Metzeler Italy 2.6 4.7 Italy Italy and plastics Sp. z o. o. (Piotrków Trybunalski)

822 Grossmann GmbH 2.6 na Germany Germany automotive Grossmann Polska Sp. z o. o. (Wałbrzych SEZ)

manufacture of Egis Pharmaceuticas Przedsiębiorstwo Farmaceutyczne Anpharm S.A. 823 2.6 na Hungary Hungary chemicals and (Warsaw) Ltd chemical products

Bioconsult Polska Sp. z o. o., Bioconsult 2000 824 Bioconsult SpA 2.6 1.0 Italy Italy municipal services Sp. z o. o. (Łódź), Ecoconsult Szczecin

manufacture of food 825 Bagdasarian 2.6 na Russia Russia products, beverages Śnieżka S.A. (Świebodzice) and tobacco

wholesale and retail 826 Adidas AG 2.6 0.5 Germany Germany Adidas Poland Sp. z o. o. (Warsaw) trade

54 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) Bitron International 827 2.6 5.9 Luxembourg Luxembourg transport equipment Bitron Polska Sp. z o. o. SA

Argillon Polska Sp. z o. o. - factory in Jedlina 828 Argillon GmbH 2.6 2.8 Germany Germany manufacture of other Zdrój (Dolnośląskie Voivodeship) non metal goods manufacture of Skane Gripen 75% of shares of Wolsztyńska Fabryka Mebli 829 2.5 2.5 Sweden Sweden furniture and Sp. z o. o. Aktiebolag consumer goods Scandia Leben financial 830 2.5 na Germany Germany 98% stake in Skandia Życie S.A. Holding GmbH intermediation

manufacture of food The The 831 Natel Investment BV 2.5 na products, beverages McLean Brothers Poland Sp. z o. o. (Szczecin) Netherlands Netherlands and tobacco

Kongskilde machinery and 832 2.5 6.3 Denmark Denmark Kongskilde Polska Sp. z o. o. (Kutno) Industries A/S equipment 833 Hewlett Packard 2.5 15.0 International International wholesale trade Hewlett Packard Polska Sp. z o. o. (Warsaw)

Gustav F. W. manufacture of food 34.1% stake in Zakłady Przemysłu Cukierniczego 834 Hamester 2.5 na Germany Germany products, beverages Wawel S.A. (Kraków) GmbH&Co and tobacco

Czech Czech manufacture of other 835 Glavunion 2.5 na Wiglav Sp. z o. o. (Falenica) Republic Republic non metal goods

other business 836 Gestion Max 2.5 2.0 Canada Canada ECO ABC Sp. z o. o. (Bełchatów) activities

Franklin Templeton 837 2.5 na USA USA wholesale trade 18.4% stake in Impexmetal S.A. (Warsaw) Global Investors

Finanziaria Mobiliare 838 2.5 na Italy Italy fabrics and textiles Suma Sp. z o. o. (Zielona Góra) Immobiliare di Pollone PHU Robert Sp. z o. o. (Warsaw) - supermarket 839 Docks de France 2.5 na France France retail trade chain

840 Danish Partner ApS 2.5 na Denmark Denmark fabrics and textiles 87% stake in Danipol Sp. z o. o. (Polkowice)

Chase EU Holding financial 841 2.5 na USA USA Robert Fleming Polska S.A (Warsaw) Ltd intermediation 45% stake in Volvo Bus Poland Sp. z o. o. 842 Carrus 2.5 4.5 Finland Finland automotive (Wrocław)

Nissan Polska Sp.z o.o. (Warsaw), Marubeni 843 Marubeni Co. 2.5 1.2 Japan Japan trade and repairs Construction Machinery Poland S.A. (Warsaw)

manufacture of metals 844 Necks Invest AB 2.4 0.1 Sweden Sweden Pol-Necks Sp. z o. o. (Toruń) and metal products

Industry Service manufacture of other Fassaden Glas Technik Polska Sp. z o. o. 845 Marketing 2.4 15.0 Lichtenstein Lichtenstein non metal goods (Ozorków) Corporation (ISM)

manufacture of metals stake in Zakłady Wyrobów Metalowych SHL 846 Delfo SpA 2.4 na Italy Italy and metal products S.A. (Kielce)

The The 847 Ardutch BV 2.4 na trade and repairs Beko Polska S.A. (Piaseczno) Netherlands Netherlands

55 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) Was Wietmarscher Polska (Lubicz Dolny near 848 Was Wietmarscher 2.3 na Germany Germany transport equipment Toruń) 849 Sirti 2.3 na Italy Italy construction Sirti Polska Sp. z o. o. (Warsaw) 850 Neuber GmbH 2.3 4.7 Austria Austria trade and repairs Brenntag Polska Sp. z o. o. (Kędzierzyn Koźle) International International Trading and Investment Poland S.A. 851 Trading & 2.3 na Luxembourg Luxembourg construction (Warsaw) Investment Sanchez Computer 852 2.2 na USA USA computer technology stake in ELBA CSB Associates

RWE Solutions 853 2.2 na Germany Germany construction Elbud Gdańsk Holding S.A. (Gdańsk) Frankfurt

electrical machinery 52% stake in Rauschert-Elektrim Sp. z o. o. 854 Rauschert 2.2 1.0 Germany Germany and apparatus (Mysłakowice, Dolnośląskie Voivodship)

manufacture of metals Litpol Sp. z o. o. (Suwałki), Malow Sp. z o. o. 855 Innolink S.A. 2.2 na Switzerland Switzerland and metal products (Suwałki)

Avag Investments Sp. z o. o. (Warsaw), Auto 856 Avag Holding AG 2.2 na Germany Germany trade and repairs Żolioborz (Warsaw), Auto Praga (Warsaw)

857 Scania CV AB 2.2 na Sweden Sweden transport equipment Scania Production Słupsk S.A. (Słupsk)

manufacture of metals Viessmann Technika Grzewcza Sp. z o. o. 858 VIESSMANN 2.1 0.6 Germany Germany and metal products (Legnica SEZ)

United United IMC Polska Sp. z o. o. (Warsaw), IMC Kariera 859 IMC Consulting 2.1 2.0 business activities Kingdom Kingdom Sp. z o. o. (Warsaw)

860 Dallas International 2.1 na Turkey Turkey fabrics and textiles Dallas International (Wałbrzych SEZ)

22% stake in Best Eastern Plaza Hotels S.A. Best Eastern Plaza 861 2.1 na Luxembourg Luxembourg hotels and restaurants (Warsaw), HP Park (Poznań, Olsztyn), HP Park Hotels International Plaza (Wrocław)

United manufacture of metals 862 Herco International 2.0 na Belgium Herco Sp. z o. o. (Rawa Mazowiecka) Kingdom and metal products

manufacture of food United United 863 Uniq plc 2.0 1.0 products, beverages Lisner Sp. z o. o. (Poznań) Kingdom Kingdom and tobacco

864 Sidney Braaksma 2.0 0.1 Canada Canada construction Kan-Bud Sp. z o. o. (Kąkolewo near Leszno)

manufacture of 865 Schwarz Pharma AG 2.0 na Germany Germany chemicals and Schwarz Pharma Poland Sp. z o. o. (Warsaw) chemical products

electrical machinery 866 Landis + Gyr 2.0 na International International Landis + Gyr Polska Sp. z o. o. (Warsaw) and apparatus

KWW Ooachium pulp and paper, pub- 867 2.0 1.0 Germany Germany Verp Folie Wrocław (Mrozów) Baumann KG lishing and printing

Ascot Auto (Warsaw), I.C. Automobile Poland 868 Itochu Corp. 2.0 na Japan Japan wholesale trade Sp. z o. o. (Warsaw), Itochu Polska Sp. z o. o. (Warsaw)

56 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Industrial Quimica 869 del Nalón Polonia 2.0 na Spain Spain construction Industrial Quimica del Nalón S.A. S.A.

IFS Industrial and electrical machinery 870 Financial Systems 2.0 2.0 Sweden Sweden IFS Poland Sp. z o. o. (Warsaw and Kraków) and apparatus AB machinery and Horstmann Budowa Urządzeń i Technika 871 Horstmann 2.0 na Germany Germany equipment Ekologiczna Sp. z o. o. Henne County Mode 872 2.0 na Germany Germany fabrics and textiles Perpol Sp. z o. o. (Łódź) GmbH power, gas and water combined heat plant (Łęgajnie, Warmińsko- 873 Hedeselskabet 2.0 na Denmark Denmark supply Mazurskie Voivodship) Hafele Holding 874 2.0 na Germany Germany trade and repairs 95% stake in Hafele Polska Sp.zo.o. (Długołęka) GmbH

manufacture of other 875 Gyproc Benelux S.A. 2.0 na Belgium Belgium Nida Gips Sp. z o. o. (Warsaw, Pińczów) non metal goods

Przedsiębiorstwo Handlowo-Produkcyjne Mercus 876 Flt-Matall GmbH 2.0 na Germany Germany trade and repairs Sp. z o o. (Polkowice), PH Mercus Serwis Sp. z o. o. (Lublin), PHU Lubinpex Sp. z o. o. (Lublin)

manufacture of Flair Polstermoebel 31.98% shares in Flair Poland Sp. z o. o. 877 2.0 na Germany Germany furniture and (Kobylnica near Słupsk) GmbH and Co KG consumer goods Cosmar Polska Sp. z o. o., Nord Sp. z o. o., Diana Financial Holding 878 2.0 93.0 Italy Italy real estate Development Sp. z o. o., Dueerre Polska Sp. FHF z o. o.

electrical machinery Ericsson Sp. z o. o. (Warsaw), 19.23% stake in 879 Ericsson 2.0 na Sweden Sweden and apparatus RWT Telefony Polskie S.A.

manufacture of other Dryvit Systems USA (Europe) Sp. z o. o. - factory 880 Dryvit Systems 2.0 6.0 USA USA non metal goods of building materials near Skierniewice

manufacture of 16.5% stake in Laboratorium Frakcjonowania 881 David Minot 2.0 5.7 USA USA chemicals and Osocza Sp. z o. o. (EURO-PARK Mielec SEZ) chemical products

manufacture of food products, beverages 882 Danish Fast Food 2.0 0.3 Denmark Denmark Dania Fast Food Sp. z o. o. (Warsaw) and tobacco, retail trade

manufacture of metals 883 Corus 2.0 na International International Corus Polska Sp. z o. o. and metal products

manufacture of Apotex Inc. Korporacja, Przedstawicielstwo w 884 Apotex Inc. 2.0 200.0 Canada Canada chemicals and Polsce (Warsaw) chemical products

manufacture of food 885 GIF SRL. 2.0 0.5 Italy Italy products, beverages Frubella Processing Sp. z o. o. (Białobrzegi) and tobacco

M.C. Building manufacture of 886 Chemicals 1.9 na Ireland Ireland chemicals and MC-Bauchemie Sp. z o. o. Mueller&Partners chemical products

887 Vorwerk 1.9 na Switzerland Switzerland trade and repairs Vorwerk Polska Sp. z o. o. (Wrocław)

57 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) NET 5 Investment 888 1.9 na Luxembourg Luxembourg trade and repairs 5. net S.A. (Warsaw) S.a.r.l. 889 Clement 1.9 13.2 France France transport and storage Clement Polska Sp. z o. o. (Łódź)

Cigna Global financial 890 1.9 na USA USA Cigna Stu, Cigna Stu Życie Holdings Inc intermediation

manufacture of food O.K. Owocowe Koncentraty Sp. z o. o. 891 Bauer Peter 1.9 1.6 Germany Germany products, beverages (Przeworsk) and tobacco

Actaris 892 Gazzahlerbau 1.9 na Germany Germany trade and repairs Actaris Polska Sp. z o. o. (Kraków) GmbH The The 893 CFE Netherland 1.9 na construction CFE Polska Sp. z o. o. (Warsaw) Netherlands Netherlands

Stanley International Holdings Inc. (Warsaw), manufacture of metals 894 Stanley Works 1.8 na USA USA Narzędzia Stanley Polska Sp. z o. o. (Sułkowice, and metal products Małopolskie Voivodship) - tool production

Lignum Technologie machinery and 895 1.8 na Germany Germany IMA Polska Sp. z o. o. (Środa Wlkp.) Aktiengesellschaft equipment

General Beton manufacture of other 896 1.8 0.6 Italy Italy General Beton Polska Sp. z o. o. (Łódź) Triveneta SpA non metal goods

manufacture of Assman Polska Sp. z o. o. (Warsaw) - factory in 897 Assman GmbH 1.8 na Germany Germany furniture and Iłowo near Mława consumer goods

AEG electrical machinery stake in "Mikołowska Fabryka Transformatorów" 898 1.8 6.6 Germany Germany Aktiengesellschaft and apparatus Mefta S.A.

The The machinery and 899 Holmatro N.V 1.8 na Holmatro Polska Sp. z o. o. (Zielonka) Netherlands Netherlands equipment

manufacture of food Indian Food 900 1.7 na USA USA products, beverages Okręgowa Spółdzielnia Mleczarska (Ciechanów) Company and tobacco

FUJI PHOTO 901 1.7 na Germany Japan retail trade, repairs Fujifilm Polska Sp. z o. o. (Warsaw) (Europe)

electrical machinery 902 Elbicon 1.7 na Belgium Belgium "Visitronics" Sp. z o. o. (Warsaw) and apparatus

manufacture of DiverseyLever The The 903 1.7 na chemicals and JOHNSON Diversey Sp. z o. o. (Warsaw) Netherlands Netherlands Holdings B.V chemical products

Valmont Industries manufacture of metals 904 1.7 0.2 USA USA Valmont Polska Sp. z o. o. (Siedlce) Inc. and metal products

manufacture of food 905 Lannen Tehtaat Plc 1.6 na Finland Finland products, beverages Lannen Polska Sp. z o. o. (Tolkmicko) and tobacco

906 Regis Rouselle 1.6 2.0 France France wholesale trade Elektroland, Brabork Sp. z o. o. (Warsaw) 907 Lothar Radomski 1.6 na Germany Germany fabrics and textiles Pabia S.A. (Pabianice)

58 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

Hans Hoell manufacture of food 908 Fleischwarenfabrik 1.6 na Germany Germany products, beverages "Hoell-Pol" Zakład Mięsny Sp. z o. o. (Kaszczor) AG, Co KG and tobacco

Borgestad Fabrikker manufacture of other majority stake in Gliwickie Zakłady Materiałów 909 1.6 1.0 Norway Norway A/S non metal goods Ogniotrwałych Sp. z o. o. (Gliwice)

manufacture of metals Benda-Lutz Skawina Sp. z o. o. (Małopolskie 910 Benda-Lutz GmbH 1.5 2.0 Austria Austria and metal products Voivodship)

911 Wilkosz 1.5 na Austria Austria construction Investbau (Płock)

Wienerberger manufacture of other Wienerberger Ceramika Budowlana Sp. z o. o. 912 1.5 7.5 Austria Austria Ziegelindustrie AG non metal goods (Warsaw, Lębork)

913 Waldemar Żurawski 1.5 0.5 Germany Germany wholesale trade Klimapol Sp. z o. o. (Lublin) 914 Sodexho Alliance 1.5 na France France trade and repairs Sodexho Polska Sp. z o. o. (Warsaw)

manufacture of food 915 Polish Cheese 1.5 10.0 USA USA products, beverages Spółdzielnia Mleczarska in Siemiatycze and tobacco

Pol Nordic Group Pol Nordic Group Sp. z o. o. (Warsaw) - trade and 916 1.5 na Norway Norway real estate AS service center 917 Martela OYJ 1.5 na Finland Finland trade and repairs Martela Design Center Sp. z o. o. (Warsaw) Loctite Europa 918 1.5 na Austria Austria trade and repairs Loctite Polska Sp. z o. o. (Warsaw) GmbH manufacture of Jockenhoefer Jobon Sp. z o. o. (Zwierzyniec, Lubelskie 919 1.5 na Germany Germany furniture and Voivodship) Verwaltung GmbH consumer goods machinery and 920 Gildemeister AG 1.5 na Germany Germany stake in Famot-Pleszew S.A. ( Pleszew) equipment

transport, storage and Spedition Rosner Mobeltransporte Sp. z o. o. 921 Franz Peter Rosner 1.5 na Germany Germany communication (Przylep)

922 Enterasys 1.5 na USA USA trade and repairs 10% stake in JTT Computer (Wrocław)

manufacture of food 923 Corey Durling 1.5 na USA USA products, beverages Bona Sp. z o. o. (Złotów) and tobacco

CH2M Hill 924 1.5 na USA USA business activities CH2M Hill Polska Sp. z o. o. (Kraków) International Inc.

C & C Partners The The transport, storage and 925 1.5 na C & C Partners Telecom Sp. z o. o. (Leszno) Communications BV Netherlands Netherlands communication

wood and wooden 926 Arnold Dammers 1.5 na Germany Germany HDM Sp. z o. o. (Ruszów) products metals and metal Amcor White Cap Polska Sp. z o. o. 927 White Cap Europa 1.5 18.5 Germany Germany products (Niepołomice) Intermarket Bank financial 928 1.5 1.5 Austria Austria 50% stake in Polfactor S.A. (Warsaw) AG intermediation

manufacture of food 929 Herisson Ltd 1.5 1.5 Ireland Canada products, beverages Fantasy Foods Sp. z o. o. (Kobyłka near Warsaw) and tobacco

59 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

automotive, Leonische manufacture of 930 1.4 na Germany Germany Leoni Autokabel Polska Sp. z o. o. (Ostrzeszów) Drathwerke electrical machinery and apparatus

Securpol Polska Sp. z o. o. (Warsaw, Poznań, Italpol Servizi 931 1.4 na Italy Italy business activities Gdańsk, Łódź, Kraków, Bydgoszcz, Katowice, Fiduciari S.P.A. Lublin) Credit Suisse Asset Management The The financial Credit Suisse Asset Management Polska S.A. 932 1.4 na Nederland Holding Netherlands Netherlands intermediation (Warsaw) B.V.

Przedsiębiorstwo Techniki Sanitarnej Alba Sp. z o. o. (Chorzów), Alba Przedsiębiorstwo ALBA International 933 1.4 na Germany Germany municipal services Gospodarki Komunalnej Czeladź Sp. z o. o. GmbH (Czeladź), Alba Śląsk Sp. z o. o. Bytom, Gorzów Wielkopolski, Toruń, Warsaw)

manufacture of 934 Rom Heribert 1.4 1.0 Belgium Belgium furniture 53.54% stake in Zebra Sp. z o. o. (Dzierżoniów) and consumer goods

935 Solbit 1.3 5.0 Israel Israel real estate Asbud Piaseczno Sp. z o. o. (Warsaw) Scheidt Internatio- Scheidt Gliwice Sp. z o. o. (Pyskowice), Scheidt 936 1.3 na Germany Germany construction nal GmbH Gliwice Sp. z o .o. (Warsaw)

manufacture of metals 937 Sacal SpA 1.3 2.0 Italy Italy RCN Metals Sp. z o. o. (Warsaw) and metal products

manufacture of Prino-Plast Sp. z o. o. JV Produkcja Artykułów 938 Maria Prior-Nowak 1.3 na Germany Germany chemicals and Higienicznych (Malbork) chemical products Italiana Appalti 939 1.3 na Italy Italy real estate I.A.CO. Polska (Kraków) Costruzioni HTS Duisburg 940 Haniel Textile 1.3 na Germany Germany trade and repairs CWS Polska Sp. z o. o. (Łódź) Service GmbH Freshtex Freshtex Textile Finishing Polska Sp. z o. o. 941 International Textile 1.3 na Germany Germany personal services (Stary Wołów) Serwis GmbH

manufacture of metals Ferroli Poland Sp. z o. o. (Jastrzębie Zdrój, 942 Ferroli SpA 1.3 na Italy Italy and metal products Śląskie Voivodship)

The The 943 ETC Couture 1.3 na fabrics and textiles Moda Nowy Tomyśl Sp. z o. o. Netherlands Netherlands machinery and 944 AxEast AB 1.3 8.0 Sweden Sweden Szwedzkie Biuro Techniczne Sp. z o. o. (Warsaw) equipment 945 Asthrom 1.3 5.0 Israel Israel real estate Asbud Piaseczno Sp. z o. o. Arlberger 75% stake in Sudety Lift Sp. z o. o. (Szklarska 946 1.3 na Austria Austria transport and storage Bergbahnen AG Poręba) manufacture 947 Velux A/S 1.3 na Denmark Denmark Velux Polska Sp. z o. o. (Warsaw) of plastics Mitsui & Co. manufacture of rubber 948 1.2 na Germany Japan 15% stake in TRI Poland Sp. z o. o. Deutschland and plastics

60 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

manufacture of 949 M2P Group S.A. 1.2 na France France electrical machinery Mikroma Sp. z o. o. (Września) and apparatus

manufacture of rubber Toho Poland Sp. z o. o. (Radom, SEZ 950 Toho Kogyo Co. Ltd. 1.2 na Japan Japan and plastics Tarnobrzeg)

The The pulp and paper, pub- 951 Steijn Design BV 1.2 6.0 Steijn Paper Sp. z o. o. Netherlands Netherlands lishing and printing

952 Sieper GmbH 1.2 1.0 Germany Germany consumer goods Sieper Sp. z o. o. (Złotoryja) OKT manufacture of rubber 953 Kunststofftechnik 1.2 3.0 Germany Germany OKT Polska Sp. z o. o. (Bydgoszcz) and plastics GmbH

Odra Industries transport, storge and Przedsiębiorstwo Portowe ODRAPORT 954 1.2 na Norway Norway ASA communication Sp. z o. o. (Świnoujście)

manufacture of food Materne-Confilux 955 1.2 50.0 Belgium Belgium products, beverages Materne-Polska Sp. z o. o. (Łopatki) S.A. and tobacco

leather and leather 956 Immobiliare Sifra 1.2 na Italy Italy Garbarnia Master Sp. z o. o. (Włocławek) products Heye-Fabryka Form Szklarskich Sp. z o. o. machinery and 957 Herman Heye KG 1.2 1.2 Germany Germany (Pieńsk, Dolnośląskie Voivodship), Heye-Polska equipment Sp. z o. o. (Poznań)

manufacture of metals 958 Dan Engineering AS 1.2 11.0 Denmark Denmark Dan Engineering Sp. z o. o. (SEZ Tarnobrzeg) and metal products

959 Castolin GmbH 1.2 na Germany Germany trade and repairs Castolin Sp. z o. o. (Gliwice) B.V. Holding The The 50% stake in Damen Shipyards Gdynia S.A. 960 Maatschappij 1.2 na transport equipment Netherlands Netherlands (Gdynia) Damen

manufacture of metals PPUH AmTech Sp. z o. o. (Głogów), PPHU 961 Amtech U.S. Inc. 1.2 na USA USA and metal products Hydrostal Sp. z o. o. (Dobrzany)

Wolters Kluwer Int. The The publishing Polskie Wydawnictwa Profesjonalne Sp. z o. o. 962 1.2 na Holding B.V. Netherlands Netherlands and printing (Warsaw) manufacture of 963 Lobito S.A. 1.2 0.9 Luxembourg Luxembourg furniture and 46.46% stake in Zebra Sp. z o. o. (Dzierżoniów) consumer goods Rolls-Royce Power United United power, gas and water 964 1.1 40.0 Energobaltic Sp. z o. o. (Gdańsk) Ventures Ltd Kingdom Kingdom supply

manufacture of metals Bekaert Kotlarnia Sp. z o. o. (Opolskie 965 FNE 1.1 2.5 Belgium Belgium and metal products Voivodship)

manufacture of The The 50% stake in Dendro Polska Sp. z o. o. (Rogoźno 966 Ergonomics B.V. 1.1 0.1 furniture and Netherlands Netherlands Wielkopolskie) consumer goods manufacture of The The 50% stake in Dendro Polska Sp. z o. o. (Rogoźno 967 BV Foedor 1.1 0.1 furniture and Netherlands Netherlands Wielkopolskie) consumer goods rubber and plastics, STOMIL Sp. z o. o. (Środa Wlkp.) - rubber car 968 Aligator Ventil 1.1 na Germany Germany automotive components production

969 VINCI Construction 1.0 na France France construction 72.93% stake in Warbud S.A. (Warsaw)

United Parcel 970 1.0 na USA USA postal services UPS Polska Sp. z o. o. (Warsaw) Service Inc. (UPS)

61 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million)

The Aluminium United United manufacture of metals 971 1.0 1.0 shares in Benda-Lutz Skawina Sp. z o. o. Powder Co. Ltd. Kingdom Kingdom and metal products media and 972 Simest SpA 1.0 na Italy Italy 20.8% stake in Fincast Sp. z o. o. (Warsaw) entertainment Schoenfabriek The The leather and leather Schoenfabriek Helioform International Sp. z o. o. 973 Helioform Quality 1.0 na Netherlands Netherlands products (Rzeszów) Shoes BV

Radson Panele Grzewcze Sp. z o. o. (Zabrze), 974 Radson NV 1.0 na Belgium Belgium wholesale trade Rettig Heating Sp. z o. o. (Warsaw, Rybnik)

975 Peugeot 1.0 na France France automotive Peugeot Polska Sp. z o. o. (Warsaw) manufacture of rubber Pan-Isovit Sp. z o. o. (Katowice) with Eksport- 976 Pan-Isovit 1.0 na Germany Germany and plastics Projekt (Zabrze)

Morrison Knudsen financial 977 1.0 na USA USA 29.5% stake in AmerBank (Warsaw) Corporation intermediation

978 Michael Bob GmbH 1.0 na Germany Germany fabrics and textiles Bob Polska Sp. z o. o. (Żagań)

media and 979 Mediafin 1.0 na Italy Italy 19.8% stake in Fincast Sp. z o. o. (Warsaw) entertainment Lecce Pen Company 980 1.0 0.6 Italy Italy consumer products Lecce Pen Polska Sp. z o. o. (Bytom) SpA Inline Plastics manufacture of rubber 981 1.0 na USA USA Inline Poland Sp. z o. o. (Poznań) Corporation and plastics

IBM Central electrical machinery 982 1.0 na Germany Germany IBM Polska Sp. z o. o. (Warsaw) Holding GmbH and apparatus

983 Horst Mosolf Group 1.0 na Germany Germany transport and storage Mostva Sp. z o. o. (Mszczonów)

Havas Advertising 984 1.0 na France France business activities Euro Rscg NEW EUROPE Sp. z o. o. (Warsaw) International Eurovia financial 33% of shares of Eurovia Polska S.A. (Bielsko- 985 1.0 na France France International intermediation Biała) 986 Elfa AB 1.0 na Sweden Sweden trade and repairs Elfa Polska Sp. z o. o. (Warsaw) publishing Bydgoska Drukarnia Akcydensowa Sp. z o. o. 987 East Pack GmbH 1.0 na Germany Germany and printing (Bydgoszcz) Dresdner manufacture Dresdner Festerbau Polska Sp. z o. o. 988 1.0 na Germany Germany Fensterbau of plastics (Niepołomice near Kraków)

manufacture of metals 989 Danieli 1.0 600.0 Italy Italy 20% of shares of Huta Katowice and metal products

manufacture of food 990 Chapman Ice Cream 1.0 na Canada Canada products, beverages Chapman Ice Cream Poland Sp. z o. o. (Poznań) and tobacco

991 Carly Gry 1.0 1.0 Denmark Denmark fabrics and textiles Carly Gry PL Production (Łódź) Berthold Sichert 992 GmbH, Adolf Otto 1.0 na Germany Germany wholesale trade Berthold Sichert Sp. z o. o. (Bydgoszcz) GmbH Baring CEF publishing 993 1.0 na USA USA 85% of shares of Poligrafia S.A Investment IV Ltd and printing 994 Albert Schomburg 1.0 na Germany Germany wholesale trade Schomburg Polska Sp. z o. o. (Kutno)

manufacture of 10% stake in Fabryka Maszyn Elektrycznych 995 Elektropol Cantoni 1.0 na Italy Italy electrical machinery Indukta S.A. (Bielsko-Biała) and apparatus

62 Capital Plans Country of Country of No. Investor invested (USD Activities Comments (USD million) registration origin million) power, gas and water 996 LM Glasfiber 1.0 34.0 Denmark Denmark LM Glasfiber Sp. z o. o. (Goleniów) supply Investments exceeding USD 1 million 69,441.0 12,058.3 Estimated investment not exceeding USD 1 million 3,265.0

Total 72,706.0

63 Polska Agencja Informacji i Inwestycji Zagranicznych S.A. Polish Information & Foreign Investment Agency

page No. page No. page No. 1. Foreign investments in the world ...... 3 Banco Commercial Portugues S.A...... 29 Castolin GmbH ...... 61 2. FDI inflow to Poland in 2003 ...... 3 Banco Santander Central Hispano ...... 24 Caterpillar Inc...... 53 3. Foreign investors in Poland with regard to the Bank of Tokyo - Mitsubishi N.V...... 28 Catzy ...... 52 country of their origin ...... 4 Bankgesellschaft Berlin AG ...... 23 CBR Baltic BV ...... 11 4. Foreign investments with respect to the sectors of Baring CEF Investment IV Ltd ...... 62 CC HBC (Coca-Cola Hellenic Bottling Company) ...... 11 the economy ...... 4 Barry Callebaut France S.A...... 31 Cebal S.A.S...... 49 5. Foreign investors in Poland ...... 5 Basell Europe Holdings NV ...... 17 CEDC (Central European Distribution Corporation) ...... 29 The List of Major Foreign Investors in Poland; BASF AG ...... 35 Celia ...... 45 December 2003 ...... 9 Bata Shoes ...... 53 Cement Roadstone Holding Plc (CRH) ...... 13 3M Nederland B.V...... 29 Bates Telecom Ltd ...... 15 Ceneu Pizza BV ...... 51 A.Espersen A/S ...... 48 Bau Holding Strabag AG ...... 17 Central European Advanced Refractory Technology BV . .42 A/S Roulunds Fabriker ...... 50 Bauer Peter ...... 58 Central European Recovery Holdings LP ...... 52 ABB Ltd...... 17 Baumann Bautechnik GmbH ...... 50 Centro Internationale Handelsbank AG ...... 32 ABBA Seafood AB ...... 35 Baxter Healthcare Corporation ...... 42 CEPV ...... 24 ABN-AMRO Bank NV ...... 18 Bayer AG ...... 30 Cetelem S.A...... 33 ACCIONA ...... 31 BEG S.A...... 17 CeWe Color ...... 50 Accor SA ...... 14 Beiersdorf AG ...... 22 CF Gomma Nederland ...... 48 ACP Europe ...... 45 Bekaert NV ...... 54 CF Gomma SpA ...... 52 Actaris Gazzahlerbau GmbH ...... 58 Beloit Corporation ...... 37 CFE Netherland ...... 58 Actebis Holding GmbH ...... 35 Belvedere S.A...... 33 CH2M Hill International Inc...... 59 ADDTEK Holding OY AB ...... 46 Benckiser ...... 37 Chapman Ice Cream ...... 62 Adidas AG ...... 55 Benda-Lutz GmbH ...... 59 Chase EU Holding Ltd ...... 55 Adrenatio ...... 54 Berger Breitgewebe International GmbH ...... 50 Chaufourneries de Hergenrath ...... 40 AEG Aktiengesellschaft ...... 58 Bergerat Monnoyeur SAS ...... 40 Chelverton Properties ...... 30 AES Horizons Ltd ...... 42 Berliner Bank AG ...... 37 Chemitex Trading Ltd...... 35 Aesculap AG ...... 52 Bertelsmann AG ...... 32 Chr. C. Grene A/S ...... 42 AGA AB ...... 31 Berthold Sichert GmbH, Adolf Otto GmbH ...... 62 Chr. Hansen A\S ...... 48 AGF ...... 41 Best Eastern Plaza Hotels International ...... 56 Christman & Pfeifer Mobelsysteme GmbH&Co KG ...... 44 AGIP Petroli SpA ...... 49 Beverly Hills Vide L.L.C...... 37 Cigna Global Holdings Inc ...... 58 Agro East Europe BV ...... 48 Bianca Modern ...... 49 Citigroup ...... 9 Ahlers AG ...... 32 BIC CLICHY ...... 45 Clement ...... 58 Ahlstromforetagen Svenska Aktiebolg ...... 35 Big Star Holding ...... 46 Cloetta Fazer AB ...... 40 Ahold ...... 22 Bilfinger und Berger Bau AG ...... 33 CNH Global ...... 21 AIG ...... 20 Bioconsult SpA ...... 54 Coats Viyella Plc ...... 36 Air Liquide S.A...... 20 Biofarma ...... 43 Colas S.A...... 54 Aktiebolaget SKF ...... 28 Bitron International SA ...... 55 Colgate-Palmolive America INC ...... 45 ALBA International GmbH ...... 60 BM Industria Bergamasca Mobili ...... 51 Colloid Environmental Technologies Company (CETCO) .43 Albert Schomburg ...... 62 BMW Group ...... 50 Commerzbank AG ...... 13 Alcatel ...... 16 BNP Paribas ...... 22 Condor ...... 46 Alcro - Beckers AB ...... 22 Boart Longyear International BV ...... 47 Conoco Central Europe Inc ...... 40 Aligator Ventil ...... 61 Bombardier Transportation ...... 31 Conrad Jacobson GmbH ...... 54 Alliance Capital Management Corporation of Delaware . . .53 Bongrain ...... 43 Cookson Holdings BV ...... 42 Allianz AG ...... 15 Bonita Holding B.V...... 26 Cookson Overseas Limited ...... 42 Allied Irish Bank Plc ...... 10 Borgestad Fabrikker A/S ...... 59 Cordesmeyer Franc ...... 43 Alpla ...... 37 BOS Automotive Products Belgie NV ...... 41 Corey Durling ...... 59 Alstom ...... 13 Bougues ...... 53 Corus ...... 57 Altana Pharma AG ...... 27 BP International B.V...... 10 Cosmar S. r. l...... 25 Alte Leipziger Europa AG ...... 41 Braaten Companies LLD...... 45 Cox Enterprises, Inc...... 48 Aluplast Austria GmbH ...... 41 Brau Union ...... 20 CPIG (Chicago Poland Investment Group) LLC ...... 31 Amcor Ltd ...... 17 BRC Holding Developments ...... 23 Credit Agricole ...... 10 Amtech U.S. Inc...... 61 Bridgestone Corporation ...... 16 Credit Lyonnais Global Banking ...... 24 Amvescap Plc ...... 34 British American Tobacco GmbH ...... 13 Credit Suisse Asset Management Nederland Holding B.V. .60 AP Portico Sarl ...... 21 British Oxygen Corporation (BOC Group) ...... 14 Credit Suisse Private Equity ...... 42 Apache Corporation ...... 21 British Sugar Overseas (BSO) Ltd...... 19 Crystal Clear Industries Inc...... 49 Apcon ...... 48 British Vita Plc ...... 35 CSM NV ...... 29 Apollo-Rida Poland Llc...... 16 Broen A/S ...... 45 Cussons Group Ltd...... 24 Apotex Inc...... 57 Brouwerij Palm NV ...... 21 D. Chase Enterprises ...... 18 Arcon ...... 52 Brugman ...... 54 Daewoo ...... 10 Arctic Paper AB ...... 17 Brugmann ...... 42 Dagens Industri Holding AB ...... 30 Ardutch BV ...... 55 BSH Bosch und Siemens Hausgerate GmbH ...... 19 Dahl International AB ...... 35 Argillon GmbH ...... 55 BSN Gervais Danone ...... 17 DaimlerChrysler AG ...... 22 ARLA FOODS AmbA ...... 49 BST ...... 53 Dalkia Termika S.A...... 19 Arlberger Bergbahnen AG ...... 61 Buderus HT ...... 38 Dallas International ...... 56 Arnold Dammers ...... 59 Budzinsky + Hor GmbH + Co ...... 51 Dan Engineering AS ...... 61 Arot AB ...... 47 Bulten AG ...... 40 Dana Corporation ...... 37 Arval PHH ...... 30 Bunge Investment France ...... 23 Danfoss A/S ...... 23 ASOBO BV ...... 25 BV Foedor ...... 61 Danieli ...... 62 Assman GmbH ...... 58 C & C Partners Communications BV ...... 59 Danish Fast Food ...... 57 Asthrom ...... 60 C&M ...... 43 Danish Partner ApS ...... 55 Atlas Neeif Holdings Ltd...... 26 C.E.M.O.M. - MOATTI ...... 52 Danske Bank A.S...... 17 Atofina S.A...... 43 Cadbury's Schweppes ...... 17 David Minot ...... 57 Auchan S.A...... 11 Caisse Centrale de Credit Cooperatif ...... 49 David S Smith Netherlands B.V...... 39 Autoliv AB ...... 32 Campofrio Alimentacion S.A...... 53 DBG Osteuropa Holding GmbH ...... 37 Avag Holding AG ...... 56 Canal Plus ...... 21 Decathlon S.A...... 52 Aventis S.A...... 24 CAP Gemini S.A...... 51 Deguss Huls AG ...... 38 AVIVA Plc...... 15 Cardif Assurance Risques Divers ...... 35 DeLaval Holding AB ...... 33 AVON International Operations INC...... 15 Cardif S.A...... 31 Delfinet B.V...... 24 AxEast AB ...... 60 Cargill Inc...... 20 Delfo SpA ...... 55 Axel Springer AG ...... 27 Caribbean Distillers Corporation Ltd...... 51 Delphi Automotive Systems ...... 13 B INTERNATIONAL ...... 46 Carlsberg Breweries A/S ...... 18 DeTeMobil ...... 23 B.V. Holding Maatschappij Damen ...... 61 Carly Gry ...... 62 Deutsche Bank AG ...... 13 Bagdasarian ...... 54 Carrefour ...... 10 Deutsche Bank Trust Company Americas ...... 19 Bahlsen ...... 34 Carrus ...... 55 Deutsche Investitions und Entwicklungsgesellschaft GmbH .40 Ball Packaging Europe GmbH ...... 21 Cartotechniche Chierese e Tiferante ...... 53 Deutsche Zentral Genossenschaftsbank AG (DG Bank) . . .28 Ballinger Holdings Ltd...... 47 Casino ...... 10 DHL Worldwide Network ...... 23 64 Polska Agencja Informacji i Inwestycji Zagranicznych S.A. Polish Information & Foreign Investment Agency

page No. page No. page No. DiverseyLever Holdings B.V ...... 58 Finanziaria Mobiliare Immobiliare di Pollone ...... 55 Hanyang Precision Co. Ltd...... 51 Docks de France ...... 55 Findlay Industries Inc...... 30 Harbin B.V...... 13 Dossche ...... 29 Finelectric BV ...... 23 Harris ...... 53 Dr August Oetker Nahrungsmittel KG ...... 35 Finnish Fund for Industrial Cooperation (Finnfund) ...... 49 Havas Advertising International ...... 62 DreamLand ...... 50 Flair Polstermoebel GmbH and Co KG ...... 57 Hays ...... 19 Dresdner Bank ...... 28 Flextronics International ...... 21 Hedeselskabet ...... 57 Dresdner Fensterbau ...... 62 Flt-Matall GmbH ...... 57 Heineken International B.V...... 14 Dryvit Systems ...... 57 FmB & Co. KG ...... 45 Heinrich Bauer Verlag Beteiligungs GmbH ...... 21 Duni AB ...... 45 FNE ...... 61 Heinrich Winkelmann GmbH Co ...... 33 Dyckerhoff AG ...... 16 Foras Holding A/S ...... 19 Hemelter Muhle GmbH ...... 45 Dyckerhoff Zement International GmbH ...... 17 Fortis Bank NV/S.A...... 15 Henkel CEE ...... 23 Dyrup ...... 51 Fortrade Financing SPA ...... 21 Henkell&Sohnlein KG ...... 48 E. Hawle Armaturenwerke GmbH ...... 49 Fortum Oy ...... 32 Henne County Mode GmbH ...... 57 E. Leclerc ...... 23 Foster Wheeler Europa B.V...... 34 Herco International ...... 56 E. Miroglio Holding ...... 42 Framondi NV ...... 16 Herisson Ltd ...... 59 E.M. Warburg, Pincus & Co...... 24 France Telecom ...... 9 Herlitz AG Berlin ...... 36 East Pack GmbH ...... 62 Franke Deutschland Holding GmbH ...... 51 Herman Heye KG ...... 61 East Springs International NV ...... 37 Frankische Plastiks GmbH ...... 31 Hero ...... 40 Eaton ...... 17 Franklin Templeton Global Investors ...... 55 Herz ...... 52 Eckes-Granini Int...... 39 Franz Peter Rosner ...... 59 Hewlett Packard ...... 55 EDAS CASA/AVIA System Group ...... 44 Franz Zentis ...... 39 Hexal AG ...... 36 EdS ...... 48 Freshtex International Textile Serwis GmbH ...... 60 Heye & Heinz Glas ...... 43 Egis Pharmaceuticas Ltd ...... 54 Freudenberg Politex Srl ...... 44 Hicks Muse Tate & Furst, Emerging Markets Partnership Eiffage Construction ...... 19 Friedrich Weissheimer Maltzfabrik KG ...... 53 and Argus Capital Partners ...... 18 Elanders Infoprint AB ...... 52 Fritidsresor Holding AB ...... 24 Hiestand Holding AG ...... 26 Elbicon ...... 58 Frosta AG ...... 44 Hines ...... 22 Electrabel S.A...... 14 FUJI PHOTO (Europe) ...... 58 HK Roukatalo Oyj ...... 56 Electricite de France Internationale (EDF) ...... 11 GATX Rail Overseas Holding Corporation ...... 14 Hobas Rohre GmbH ...... 39 Electrolux AB ...... 37 GE Capital Real Estate/Heitman Central Europe Property Hochland AG ...... 30 Elektropol Cantoni ...... 62 Partners ...... 14 Hochtief AG ...... 44 Elfa AB ...... 62 GE Power Controls Belgium BVBA ...... 54 Hohenstaufen Neunundvierzigste Vermogensverwaltungs Eli Lilly Nederland ...... 43 Gedeon Ritcher LTD ...... 26 GmbH ...... 22 Elopak Denmark AS ...... 50 Gelsenwasser AG ...... 45 Holdes NV ...... 53 Elsam A/S ...... 28 General Beton Triveneta SpA ...... 58 Holmatro N.V ...... 58 EMERITA B.V...... 27 General Electric Corporation (GE) ...... 12 Horst Mosolf Group ...... 62 EMPiK Centrum Investments S.A...... 24 General Logistics Systems International Holding B.V . . . . .34 Horstmann ...... 57 EnBW Energie Baden-Wurtenberg AG ...... 25 General Mills Inc...... 47 House of Prince Denmark A/S ...... 13 Energie Baden-Wurttemberg AG (EnBW) ...... 26 General Motors Corporation ...... 10 HP-Pelzer International GmbH ...... 44 ENERSYS Holding ...... 36 Generali Holding Vienna AG ...... 21 HTS Duisburg Haniel Textile Service GmbH ...... 60 ENSTO SEKKO OY ...... 53 Georg Utz Holding ...... 43 Huhtamaki Van Leer ...... 22 Enterasys ...... 59 Gerber Finance Company ...... 32 HUK Coburg ...... 26 Enterprise Internationale pour I'Environement S.A...... 34 Gerling Konzern Allgemeine Versicherungs AG ...... 47 Hutchinson S.A...... 28 Enterprise Investors ...... 10 Germanos ...... 45 HVB ...... 9 Epstein ...... 15 Gerolsteiner Brunnen GmbH & Co ...... 41 Hydro Central Europe B.V ...... 21 Erbet B.V ...... 38 Gerresheimer ...... 43 IAEG/WIBEBA ...... 21 ERGO International Aktiengesselschaft ...... 16 Gestion Max ...... 55 IBM Central Holding GmbH ...... 62 Ergom Materie Plastiche SpA ...... 45 Giacomelli Sport Group Spa ...... 31 ICI Omicron BV ...... 37 Ergonomics B.V...... 61 GIF SRL...... 57 ICL ...... 38 Ericsson ...... 57 Gildemeister AG ...... 59 ICN Pharmaceuticals Inc...... 24 Erste Bank ...... 44 Gillette ...... 34 ICN Switzerland AG ...... 42 Esselte AB ...... 26 Gillingham Portland Cement Company Limited ...... 50 Icopal A/S ...... 19 Essilor International ...... 36 GiroCredit Bank AG ...... 51 ICT SPA ...... 18 Esso Deutschland GmbH ...... 16 GKN Driveline International GmbH ...... 27 IFS Industrial and Financial Systems AB ...... 57 ETC Couture ...... 60 Glaverbel Czech A.S...... 47 IKEA ...... 13 Eureko B.V...... 11 Glavunion ...... 55 IMC Consulting ...... 56 Eurocast Italia ...... 52 Glaxo SmithKline ...... 12 Immobiliare Sifra ...... 61 Eurofoam B.V...... 41 Glencore International AG ...... 31 Imperial Tobacco Plc ...... 11 Europa Distribution Center ...... 25 Globus ...... 46 Indafin Srl ...... 39 Europar-Ven Company Establishment ...... 53 GN Great Nordic ...... 30 Indian Food Company ...... 58 European Bank for Reconstruction and Development Go Sport ...... 50 Industrial Quimica del NalÛn Polonia S.A...... 57 (EBRD) ...... 9 Golf Investment ...... 38 Industry Service Marketing Corporation (ISM) ...... 55 European Renaissance Capital L.P...... 33 Goodrich Aerospace Canada ...... 35 Inergy Automotive Systems ...... 42 European Retail Enterprises (ERE) ...... 18 Goodyear Luxembourg S.A...... 15 ING Group NV ...... 10 EUROPOLIS INVEST ...... 14 Graham Packaging ...... 40 Inline Plastics Corporation ...... 62 Europort Grain Terminal ...... 20 Granges A.B...... 33 Innolink S.A...... 56 Eurovia International ...... 62 Greenbrier Europe B.V...... 33 Innova Capital ...... 16 Exide Technologies ...... 31 Grossmann GmbH ...... 54 Intel Europe Inc...... 43 F & P Holding Company Inc...... 17 Group 4 Falck A/S ...... 28 Inter Group ...... 49 Fagor Electrodomesticos ...... 27 Grundig AG ...... 46 Inter Krankenversicherung AG ...... 23 Faure Machet (FM) Logistic S.A...... 29 Gruner +Jahr ...... 39 Inter Lebensversicherung AG ...... 39 Faurecia Investments ...... 16 Gruppo Nico ...... 40 Inter Paper Holding AG ...... 39 FCE Bank Plc ...... 41 GTC International ...... 24 Inter Versicherungen ...... 38 Federal Mogul Holding Deutschland GmbH ...... 27 GTE International ...... 41 Intercellulosa AB ...... 18 FEGRO-Markt GmbH ...... 23 GTECH Corporation ...... 43 Interelektra Holding S.A...... 49 Ferrero Group ...... 18 Guardian Industries Corporation ...... 16 Interkontakt Group A.S...... 26 Ferroli SpA ...... 60 Gustav F. W. Hamester GmbH&Co ...... 55 Intermarche ...... 40 Ferrovial ...... 15 Gyproc Benelux S.A...... 57 Intermarket Bank AG ...... 59 Festo GmbH ...... 50 H.J Heinz Company ...... 26 International Container Terminal Services ...... 26 Feu Vert S.A...... 52 Hachette Livre S.A...... 52 International Ducatel Development ...... 51 FIAAG ...... 37 Hafele Holding GmbH ...... 57 International Fast Food Corporation ...... 34 Fiat ...... 9 Hagemeyer N.V...... 54 International Finance Corporation ...... 19 Fiat-GM Powertrain B.V...... 12 Hamelin Group ...... 49 International Trading & Investment ...... 56 Filatura e Tessitura di Tollegno SpA ...... 49 Hans Grohe International ...... 50 International Water United Utilities Holding BV ...... 38 Fina Grain Compagnie Commerciale Financiere ...... 48 Hans Hoell Fleischwarenfabrik AG, Co KG ...... 59 Interprint Rotations Druck GmbH ...... 43 Financial Holding FHF ...... 57 Hanson AK i BV ...... 32 Intersnack Knabber Gebaeck GmbH & Co. K.G...... 36 65 Polska Agencja Informacji i Inwestycji Zagranicznych S.A. Polish Information & Foreign Investment Agency

page No. page No. page No. Intersnack Knabber Gebaeck GmbH & Co. K.G...... 36 Ludwig Schockolade ...... 32 Nordica Polstermobel Beteiligung ...... 45 Investment Fund for Central and Eastern Europe ...... 15 Lurgi Oel Gas Chemie GmbH ...... 46 Nordisk Wavin A/S ...... 28 IPC ...... 12 M. J. Maillis ...... 26 Norgips ...... 19 Ispol-IMG Holdings B.V...... 15 M. Kutsch Projectgesellschaft GmbH ...... 34 Novartis AG ...... 31 IT International Theatres ...... 21 M.C. Building Chemicals Mueller&Partners ...... 57 Novo Nordisk Region Europe A/S ...... 41 Italiana Appalti Costruzioni ...... 60 M2P Group S.A...... 61 NSK Europe Limited ...... 20 Italmatch Srl ...... 49 Machinery Products and Development Holding B.V...... 35 Nutreco International B.V...... 39 Italpol Servizi Fiduciari S.P.A...... 60 MacoPharma ...... 52 OAO Gazprom ...... 9 Italtriest Group ...... 43 Maersk ...... 34 OAO LUKOIL ...... 46 ITI Film Studies Poland BV ...... 43 Magnaplast Hausabflustechnik GmbH ...... 50 OBI Heimwerkermarkt AG ...... 26 ITI Media Group NV ...... 13 MAHLE ...... 26 Odra Industries ASA ...... 61 Itochu Corp...... 56 Malteries Soufflet S.A...... 41 OKT Kunststofftechnik GmbH ...... 61 IVECO N.V...... 51 MAN Nutzfahrzeuge AG ...... 25 Onduline S.A...... 36 Jeronimo Martins Holding ...... 12 Manuli Rubber Industries ...... 35 Optiroc Group AG ...... 26 Jockenhoefer Verwaltung GmbH ...... 59 MAPEI S.p.A...... 47 Oracle Corporation ...... 48 Josef Klosters KG St. Hubert ...... 25 Marga B.V...... 15 Oras OY ...... 40 Julius Meinl International AG ...... 45 Maria Prior - Nowak ...... 60 Orfama ...... 41 Kalon Group BV ...... 29 Marks & Spencer ...... 46 Oriflame ...... 27 Kappa Packaging ...... 22 Marquard Media AG ...... 49 Orix Corporation ...... 40 Karosseriewerke Dresden GmbH ...... 44 Marriott ...... 47 Orkla Foods A.S...... 36 KBC Bank N.V...... 9 Mars Inc...... 16 Orkla Press ...... 18 Kemira Kemi AB ...... 51 Martela OYJ ...... 59 Orsa Srl ...... 46 Kerakoll International B.V...... 39 Martin Bauer GmbH ...... 49 Otis ...... 41 Kimball Electronics Manufacturing Inc ...... 33 Marubeni Co...... 55 OTOR ...... 51 Kimberly Clark Worldwide ING ...... 27 Materne-Confilux S.A...... 61 Ovattificio Resinatura Valpadana ...... 46 Kinepolis Group ...... 28 Matsushita Electric Europe Ltd ...... 22 Overseas Enterprises Company Ltd...... 39 King Cross Group SRL ...... 36 Mc Bride plc ...... 35 Owens-Illinois Inc...... 34 Kingfisher ...... 18 McDonald's ...... 16 P&T Technology AG ...... 40 KIPI ...... 38 McLane International Inc...... 24 PACTIV Corp...... 50 Klif Holding A/S ...... 49 Mecalux ...... 36 Pagh Morups Bornekonfektion APS ...... 46 Klingspor GmbH ...... 48 Media One ...... 23 Pam-Gas BV ...... 20 Kludi Armaturen Austria GmbH ...... 44 Mediafin ...... 62 Pan Smak Pizza Inc...... 43 Knauf Verwaltungsgesellschaft KG ...... 19 Mercurat Beteilgungs GmbH ...... 35 Pan-Isovit ...... 62 Kochloeffel GmbH ...... 52 Merloni Electrodomestici SpA ...... 22 PARKER HANNIFIN GmbH ...... 43 Kodak Ltd...... 48 Merloni Termosanitari SpA ...... 52 Paroc Group ...... 28 Konecke ...... 53 Merrild Cafe ...... 36 Passauer Neue Presse ...... 18 Kongskilde Industries A/S ...... 55 Messer Griesheim GmbH ...... 33 Paul Hartmann AG ...... 50 Koramic Building Products N.V...... 28 Metallurgica Assemblaggi Carpenterie (MAC) SpA ...... 51 Paul Wesjohann & Co. GmbH II ...... 51 Kraft Jacobs Suchard AG ...... 23 Metra ...... 44 Peacock Corporation ...... 47 KRKA ...... 30 Metro Group AG ...... 9 PENNECOM ...... 29 Krono-Holding AG ...... 12 Metsa Tissue Corporation ...... 26 Pentor Communication International ...... 52 Kronospan Holdings Ltd...... 10 Metzeler Automotive Hose Systems ...... 22 PepsiCo ...... 14 Kruger GmbH ...... 39 Metzeler Italy ...... 54 Pernod Ricard S.A ...... 20 KS Holding Hergiswil AG ...... 51 Michael Bob GmbH ...... 62 Petro Carbo Chem AG (PCC) ...... 42 Kuehne&Nagel Beteiligungs AG ...... 41 Michael Leier ...... 30 Petrofer Oil and Chemicals ...... 42 Kulczyk Investment BV ...... 35 Michel Marbot ...... 40 Peugeot ...... 62 Kurt H. Schumacher A.G...... 30 Michelin ...... 16 Pfeifer und Langen ...... 26 KWH Group Ltd...... 37 Miebach Projekt GmbH ...... 50 Pfleiderer Holzwerkstoffe GmbH Co. & KG ...... 29 KWW Ooachium Baumann KG ...... 56 Millenium Import LLC ...... 28 Philip Morris Holland B.V...... 11 L. Molteni & C.dei F.lli Alitti SpA ...... 49 Millward Brown Group ...... 32 Pilkington International Holdings B.V...... 14 L.D.C. S.A...... 30 Min Hoong Development Co...... 32 Pioneer International Corporation ...... 54 La Fourmi ...... 50 Mitsubishi Corp...... 44 PIP Managers Limited ...... 42 La Poste Group ...... 38 Mitsui & Co. Deutschland ...... 60 Pipelife Deutschland GmbH ...... 21 Lafarge ...... 11 Mitteldeutsche Energieversorgung AG (MAEG) ...... 43 Plastal Group AB ...... 34 Land O'Lakes Inc...... 48 Mobil Petroleum Company Inc ...... 22 Plastiques Du Val de Loire ...... 36 Landis + Gyr ...... 56 Model Holding AG ...... 41 Plati Elettroforniture Spa ...... 48 Lannen Tehtaat Plc ...... 58 Moeller GmbH ...... 45 Plaza Centers Europe B.V ...... 15 Lantbrukarnas Ekonomi Aktiebolag ...... 39 Morrison Knudsen Corporation ...... 62 Pliva d.d...... 16 Lear Corporation ...... 19 Motorola Inc...... 38 Plus Warenhandels Gesellschaft GmbH ...... 27 Leca ...... 53 Munksjo AB ...... 40 Podravka Prehrambena Industrija d.d...... 33 Lecce Pen Company SpA ...... 62 Muscle Machine Sweden ...... 48 Pol Nordic Group AS ...... 59 Lee Bell Inc...... 28 MVV Energie AG ...... 33 Pol Print Medien GmbH ...... 20 Legler ...... 38 Natel Investment BV ...... 55 Polam Holding BV ...... 34 Lek d.d...... 25 National Grid Plc ...... 25 Polen Invest A/S ...... 27 Lend Lease Central Europe ...... 30 Nationale Nederlanden ...... 41 Polen Zement Beteiligungsgesellshaft GmbH ...... 45 Lentjes ...... 37 Nationwide Global Holdings Inc ...... 29 Polimeni International ...... 29 Leonische Drathwerke ...... 60 NCC AB ...... 21 Polish Bakery Investment BV ...... 41 Levi Strauss ...... 31 Necks Invest AB ...... 55 Polish Cheese ...... 59 LG Electronics Inc ...... 33 Neinver ...... 40 Polish-Pre-Ipo Luxemburg ...... 47 Lhoist ...... 34 Nesky Inc...... 49 Politra BU ...... 33 Lignum Technologie Aktiengesellschaft ...... 58 Nestle S.A...... 12 Porr International/Chopin ...... 32 Lima Industrie Anstalt ...... 45 NET 5 Investment S.a.r.l...... 58 Posten AB ...... 43 Lindab AB ...... 38 Neuber GmbH ...... 56 Pratt & Whitney Canada ...... 32 Linde AG ...... 19 Neupack GmbH ...... 52 Praxair Inc...... 24 Lisa Draexlmaier GmbH ...... 42 News Corporation ...... 32 Premium Packaging Tiefdruck Produtions GmbH ...... 36 LM Glasfiber ...... 63 NGK Insulators ...... 33 Procter & Gamble Co...... 15 Lobito S.A...... 61 Nibco Inc...... 51 Prodair Corporation ...... 48 Loctite Europa GmbH ...... 59 Nichimen Corporation ...... 46 Provident Financial Plc...... 20 Logstor Ror A/S ...... 36 Nijhof Wassink ...... 28 Provimi Holding BV ...... 24 Lohmann AG ...... 50 NKT Cables A/S ...... 27 Prudential Insurance Co. of America ...... 29 L'Oreal SA ...... 25 Nomura International Plc ...... 34 PSEG Global ...... 30 Lothar Radomski ...... 58 Norbert Kreisel GmbH & Co ...... 48 QAD Europe B.V ...... 54 Lothar Thoni ...... 48 Nordea Bank Sweden AB (Nordea Group) ...... 14 Quarzwerke GmbH ...... 30 Lucchini Group ...... 17 Nordenia Hungary Szada (NHS) ...... 14 Qubus Hotel System ...... 31 Lucent Technologies Network Systems Netherlands BV . . .16 Nordic Environment Finance Corporation (NEFCO) ...... 47 R.R. Donnelley International Inc...... 32 66 Polska Agencja Informacji i Inwestycji Zagranicznych S.A. Polish Information & Foreign Investment Agency

page No. page No. page No. R+V Allgemeine Versicherungs- AG ...... 29 Shell Petroleum NV ...... 20 Tomkins Int' Holding ...... 39 Rabobank International Holding BV ...... 32 Sheraton Warsaw Cooperation ...... 25 Total Fina ElF S.A...... 47 Radson NV ...... 62 Shiptrans Holding A/S ...... 52 Toyo Seal Industries Co. Ltd...... 42 Raiffeisen HaGe ...... 43 Sical S.A...... 41 Toyota ...... 15 Raiffeisen Zentralbank Osterreich AG ...... 18 Sicpa Commercial Inks Holding (Lux) S.A...... 54 Trepko A/S ...... 53 Raisio Group ...... 40 Sidney Braaksma ...... 56 Tricon Global Restaurants Inc...... 22 Rauschert ...... 56 Siemens AG ...... 17 Trusthouse Forte ...... 22 Rautaruukki OY ...... 37 Siemens Building Technologies AG ...... 45 TRW ...... 38 Readymix Group ...... 25 Sieper GmbH ...... 61 Tryg-Baltica A/S (Nordea Group) ...... 30 Reed Elsevier Overseas B.V...... 42 Sika Finaz AG ...... 48 Tsubaki Nakashima ...... 36 Reform Company ...... 24 Simest ...... 28 Twentshe Kabel Holding ...... 53 Regis Rouselle ...... 58 Simest SpA ...... 62 UCI Multiplex BV ...... 29 Reitangruppen A/S ...... 39 Sino Frontier Properties Ltd...... 30 Ulstein Holding ASA ...... 46 Renault Group BV ...... 39 Sirti ...... 56 Unibank A/S ...... 54 Repono Holding BV ...... 34 Skandinaviska Enskilda Banken (SEB) ...... 25 Unicon AS ...... 40 Retail Investment Concepts, Inc...... 29 Skane Gripen Aktiebolag ...... 55 UniCredito Italiano SpA ...... 9 Rethmann Recycling GmbH ...... 31 Skanska Kraft AB ...... 14 Union Caffe Confectionary Group BV ...... 38 REWE Grossflachengesellschaft GmbH ...... 23 Smithfield Foods ...... 24 Union Group A.S...... 34 Rexam Plc ...... 28 Societe Europeenne De Conserve S.A...... 35 Uniq plc ...... 56 Rheinkalk GmbH & CO. KG Willfroth ...... 49 Societe Generale S.A...... 23 Unisys Corporation ...... 32 Rial Aluguss ...... 38 Societe Nationale D'Electricite et de Thermique (SNET) . .34 United Biscuits Investments ...... 35 Rieber and Son ASA ...... 43 Sodexho Alliance ...... 59 United Entertainment ...... 51 Rigips Austria GmbH ...... 21 Solbit ...... 60 United Pan-Europe Communications N.V...... 9 RMG Regel + Messtechnik GmbH ...... 39 Solvay ...... 44 United Parcel Service Inc. (UPS) ...... 61 Robert Bosch GmbH ...... 22 Sonion Mictrotronic A/S ...... 28 United Technologies Holding S.A...... 16 Robert Bosch Investment Nederland B.V...... 25 Spectra ...... 46 Uponor Group ...... 33 Robert Lewis ...... 26 Spedimpex ...... 53 US Pharmacia ...... 46 ROCA Radiadores ...... 28 Spedition Trade Trans Holding GmbH ...... 47 Uzin UTZ AG ...... 50 Rockwool ...... 21 Sprick-Fahrrader GmbH ...... 45 Valeo ...... 19 Rodamco ...... 14 Stadtwerke Leipzig GmbH ...... 52 Valfond ...... 53 Rogner GmbH ...... 37 Stahlschmidt & Maiworm ...... 24 VALIN PARTICIPATIONS ...... 31 Rolls-Royce Power Ventures Ltd ...... 61 Staight Crosing ...... 44 Valmont Industries Inc...... 58 Roltra Morse SpA Torino ...... 41 Stanley Works ...... 58 Vattenfall AB ...... 11 Rom Heribert ...... 60 Statoil ...... 12 Veka AG ...... 27 Roplasto ...... 46 Steijn Design BV ...... 61 Velux A/S ...... 60 Rossmann Ost Europe BV ...... 37 Steinhoff Europe AG ...... 50 Verizon ...... 44 Royal & SunAlliance Insurance plc ...... 27 STIHL International GmbH ...... 49 Vetequinol ...... 44 Royal Group Technologies ...... 25 STO AG ...... 39 VIESSMANN ...... 56 Royal Numico N.V...... 47 Stora AB ...... 51 Vin & Spirit AB ...... 27 Royal Philips Electronics N.V...... 12 Stroer Group ...... 36 VINCI Construction ...... 61 Ruhrgas A.G ...... 35 Sud Wolle AG ...... 23 Visteon Automotive Systems ...... 24 Rumeli Group ...... 25 Sudzucker AG ...... 30 Viterra Energy Services AG ...... 30 RWE Plus AG ...... 12 Sulzer AG ...... 41 Vivendi Universal ...... 9 RWE Solutions Frankfurt ...... 56 Sumitomo Electric Wiring System Europe Ltd...... 30 Vodafone Americas Asia Inc...... 18 RWE Umwelt Services Deutschland GmbH ...... 42 Summit Motors Investment U.K...... 46 Vogel & Noot Waermetechnik AG ...... 36 Ryan Ltd ...... 53 Suomi Mutual Life Assurance Company ...... 42 Voigt & Schweitzer ...... 52 S&T System Integration & Technology Distribution AG . .47 Superior International Resources Inc...... 48 Volkswagen AG ...... 12 SABMiller Plc ...... 23 Sven von der Heyden ...... 54 Volvo AB ...... 20 Sacal SpA ...... 60 Svenska Handelsbanken AB ...... 20 Vorwerk ...... 57 SAIAG SpA ...... 54 Swedfund International AB ...... 45 WABCO Europe B.V...... 29 Saint Louis Sucre International S.A.S...... 22 Swedwood Holding BV ...... 17 Waldemar Øurawski ...... 59 Saint-Gobain ...... 11 Swepol Link AB ...... 20 Warimpex ...... 32 Same Deutz Fahr Holding and Finance BV ...... 27 Sydkraft AB ...... 27 Was Wietmarscher ...... 56 Sampo ...... 14 Sylea Italia Srl ...... 53 Wavin Trepak BV ...... 51 Samsung Electronics Co. LTD ...... 44 Szwajcarski Fundusz Rzπdowy ...... 44 Wentworth Technologies Co. Ltd...... 39 Sanchez Computer Associates ...... 56 Tabella Holding BV ...... 38 Wesermo ...... 50 Sandvik AB ...... 50 Takata Petri AG ...... 37 West Landesbank AG (WestLB AG) ...... 25 Sanitec Ltd. OY ...... 24 TALANX AG ...... 38 Westinghouse Electric Corporation ...... 46 Sanofi-Synthelabo S.A...... 33 Talego Holding BV ...... 46 Whirlpool Europe Srl ...... 28 Sara Lee D/E N.V...... 51 Tarmac ...... 24 White Cap Europa ...... 59 Saspol ...... 52 Tchibo Frisch Rost Kaffee GmbH ...... 27 Wiener Staedtische Allgemeine Versicherung AG ...... 25 SaurInternational ...... 53 TDC Mobile International A/S ...... 18 Wienerberger Ziegelindustrie AG ...... 59 Saxon Steel Distribution ...... 40 Teksid Aluminium Luxembourg S.a.r.l. S.C.A...... 31 Wilhelm Renke Roeben ...... 26 SCA Hygiene Products Holding GmbH ...... 25 Telect Holdings ...... 37 Wilkosz ...... 59 Scancem AB ...... 40 Telediffusion de France International (TDF) ...... 46 Wincanton European Transport Services B.V...... 34 Scandia Leben Holding GmbH ...... 55 Telenor ...... 44 Windjammer Investments B.V...... 33 Scania CV AB ...... 56 TelePizza S.A...... 37 Winterthur Insurance ...... 20 Scanpol International ApS ...... 45 Telia AB ...... 13 Wm. Wrigley Jr. Company ...... 16 Scheidt International GmbH ...... 60 Tenneco Automotive ...... 32 Wolters Kluwer Int. Holding B.V...... 61 Schieder Europa Holding GmbH ...... 38 Teresio Guazzone Group ...... 38 Wuestenrot AG ...... 42 Schmidt Holland BV ...... 47 Terravita Holding Establishment ...... 54 Xerox Ltd...... 42 Schneider Electric ...... 45 Tesco Plc ...... 10 YellowTel.com ...... 52 Schoeller ...... 25 Tessitura Bresciana ...... 35 YKK Holding Europe ...... 42 Schoenfabriek Helioform Quality Shoes BV ...... 62 The Aluminium Powder Co. Ltd...... 62 Zott GmbH&Co KG ...... 29 Schrader ...... 47 The Gates Corporation Denver ...... 31 Schulstad Brod A/S ...... 36 Therab BV ...... 18 Schwarz Pharma AG ...... 56 Thomson Tubes and Displays S.A...... 12 Seita ...... 15 Thule Holding AB ...... 44 Sektkellerei Schloss Wachenheim AG ...... 50 Timken Company ...... 38 Selective American Financial Enterprises ...... 47 Tishman Speyer Properties (TSP) ...... 36 Seppeler Gruppe ...... 40 TK Holding ...... 19 Seregni SpA ...... 49 TLH Verwaltungs- und Beteiligungs ...... 47 Sest Luve ...... 44 TNT Post Group ...... 51 SFM Beteiligungen ...... 44 Toho Kogyo Co. Ltd...... 61 Shell Overseas Holding ...... 17 Tokai Rubber Industries Ltd. (TRI) ...... 28 67 Polska Agencja Informacji i Inwestycji Zagranicznych S.A. Polish Information & Foreign Investment Agency

Polish Information and Foreign Investment Agency (PAIiIZ) Bagatela 12 Str., 00-585 Warsaw, Poland Tel. +48 22 334 98 00 Fax: +48 22 334 99 99 e-mail: [email protected] website: www.paiz.gov.pl

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