Kopalnia Węgla Brunatnego Adamów Spółka Akcyjna with registered office in Turek,
Kopalnia Węgla Brunatnego Konin w Kleczewie Spółka Akcyjna with registered office in Kleczew and
Zespół Elektrowni Pątnów – Adamów – Konin Spółka Akcyjna with registered office in Konin

The Minister of Treasury with registered office in Warsaw, ul. Krucza 36/Wspólna 6, 00-522 Warszawa, acting on behalf of the Treasury, pursuant to Article 33 paragraph 1 point 3 of the Commercialization and Privatisation Act of 30 August 1996 (Journal of Laws of 2002 No. 171, item 1397, as amended), hereinafter referred to as „the Act”, and in accordance with the Resolution of the Council of Ministers of 17 February 2009 on detailed procedure of selling Treasury’s Shares (Journal of Laws No. 34, item 264, as amended), hereby invites all interested parties to negotiations regarding a joint purchase of:
• 10 200 000 (say: ten million two hundred thousand) ordinary shares, with nominal value of PLN 10 (say: ten zloty) each, owned by the Treasury, constituting 85% of the share capital of the company Kopalnia Węgla Brunatnego Adamów Spółka Akcyjna, ul. Uniejowska 9, 62-700 Turek, hereinafter referred to as „KWB Adamów”
• 20 803 750 (say: twenty million eight hundred three thousand seven hundred fifty) ordinary shares, with nominal value of PLN 10 (say: ten zloty) each, owned by the Treasury, constituting 85% of the share capital of the company Kopalnia Węgla Brunatnego Konin w Kleczewie Spółka Akcyjna, ul. 600-lecia 9, 62-540 Kleczew, hereinafter referred to as „KWB Konin”
• 4 335 500 (say: four million three hundred thirty five thousand five hundred) ordinary shares, with nominal value of PLN 12 (say: twelve zloty) each, owned by the Treasury, constituting 50% of the share capital of the company Zespół Elektrowni Pątnów – Adamów – Konin Spółka Akcyjna, ul. Kazimierska 45, 62-510 Konin, hereinafter referred to as „ZE PAK”.

Abovementioned entities hereinafter will be referred to as „the Companies”
Pursuant to Article 36 of the Act, eligible employees are entitled to acquire, free of charge, up to 15% of shares of KWB Adamów and KWB Konin, taken up by the Treasury on the day of registration of these companies. The Minister of Treasury allows the possibility of sale of shares that were not acquired by eligible employees to an entity selected through the hereby negotiations, in case the right of the eligible employees to a free of charge acquisition of these shares expires.

The core business activity of KWB Adamów and KWB Konin is mining of lignite and extraction of accompanying minerals. The core business activity of ZE PAK is energy and heat generation.
Potential investors (hereinafter referred to as “Potential Investors”) should by 8 March 2010 submit to KPMG Advisory Spółka z ograniczoną odpowiedzialnością sp.k. with registered office in Warsaw, acting as the Minister of Treasury’s advisor in the sale process of the Companies, a written confirmation of their interest to participate in the negotiations as well as present valid and up-to-date corporate documents, allowing for identification of Potential Investor, i.e. a certified copy of entry in the Register of Entrepreneurs (Company Register), reflecting the current representation of the Potential Investor (issued not earlier than three months prior to submission of the document) and, if required, the powers of attorney. After the above documents have been presented and once the duly authorized representatives of the Potential Investor have signed the document “Confidentiality Agreement”, the information memorandum of ZE PAK, information memorandum of KWB Konin and information memorandum of KWB Adamów, hereinafter referred to jointly as “Information Memoranda”, can be collected at the seat of the Advisor. The Information Memoranda contain basic information about the legal, economic and financial standing of the Companies, the sale process as well as the structure of replies to the public invitation to negotiations.

Potential Investors should submit the abovementioned documents reflecting their interest to:
Mr Marcin Drozdowski, KPMG Advisory Spółka z ograniczoną odpowiedzialnością sp.k., e-mail: marcindrozdowski@kpmg.pl, phone: +48 22 528 12 01, fax: +48 22 528 12 02
The persons responsible for collection of declarations are: Mr Marcin Drozdowski: marcindrozdowski@kpmg.pl and Ms Katarzyna Zając: kzajac@kpmg.pl.

The subject of the negotiations shall be in particular the joint price for the Companies’ shares, development program proposed by the Potential Investor, including, among others, investment commitments, commitments with respect to protection of the environment, commitments with respect to protecting the interest of the Companies’ employees and other persons associated with the Companies as well as the manner of securing execution of such commitments.
The Minister of Treasury does not allow spreading of the payment price into installments.
The deadline for submission of written responses to the public invitation to negotiations regarding purchase of shares of the Companies by Potential Investors, who collected the Information Memoranda of KWB Adamów, KWB Konin and ZE PAK, is 15 March 2010 at 12:00 Warsaw Time.

Responses of Potential Investors to the public invitation to negotiations shall be made in the Polish language in compliance with the conditions described in the Information Memoranda of KWB Adamów, KWB Konin and ZE PAK. The responses should be filed in duplicate, in a sealed envelope, at the office of the Ministry of Treasury, 00-522 Warszawa, ul. Krucza 36/Wspólna 6, Front Office of the Department of Ownership Supervision and Privatisation III (room 501). The envelope shall be labeled as follows:
„Odpowiedź na publiczne zaproszenie do negocjacji w sprawie nabycia akcji Spółki Kopalnia Węgla Brunatnego Adamów Spółka Akcyjna z siedzibą w Turku, Spółki Kopalnia Węgla Brunatnego Konin w Kleczewie Spółka Akcyjna z siedzibą w Kleczewie oraz Spółki Zespół Elektrowni Pątnów – Adamów – Konin Spółka Akcyjna z siedzibą w Koninie – Nie otwierać”
(Reply to the public invitatation to negotiations regarding the purchase of shares in KWB Adamów, KWB Konin and ZE PAK – do not open)
as well as shall contain information allowing for identification of the Potential Investor.
The Minister of the Treasury reserves the right to request additional information and explanations from Potential Investors, who submit responses to the public invitation to negotiations.

Potential Investors who submit their responses to the public invitation to negotiations shall be notified in writing by 1 April 2010 as to the decision of the Minister of Treasury regarding the result of examination of their responses.
Only the responses submitted by Potential Investors who have signed the Confidentiality Agreement and received the Information Memoranda of KWB Adamów, KWB Konin and ZE PAK shall be considered.
The Minister of Treasury reserves the right to: select one or several entities to participate in the negotiations; to withdraw from negotiations without stating a reason; to extend the deadline for submitting the responses to the public invitation to negotiations and to extend the deadline for informing about the results of examination of the responses to the public invitation to negotiations; change the procedure and the schedule of the negotiations.
The Minister of State Treasury shall not reimburse any costs incurred by the entities interested in purchasing the shares with regards to their participation in the negotiations and the conclusion of the Companies’ shares purchase agreement.