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Deadline for the submission of Offers expires on 4 October 2010 at 2:30 PM

The Minister of Treasury
OF THE REPUBLIC OF POLAND
hereby invites to a public tender for shares

the Minister of Treasury, ul. Krucza 36/Wspólna 6, 00-522 Warszawa, acting on behalf of the Treasury, hereinafter referred to as the “Seller,” pursuant to Article 33(1)(2) of the Commercialisation and Privatisation Act of 30 August 1996 (Journal of Laws of 2002 No. 171, item 1397, as amended), hereinafter referred to as the “Act”, hereby invites all interested parties to submit their offers in a public tender, hereinafter referred to as the “Tender” to purchase the shares of the company:

Złoty Stok Farby Sp. z o.o. with registered office in Złoty Stok
(hereinafter referred to as the “Company”)

The Company’s core business activity is the sale of plastic products (foils, packagings, nettings), production and sale of paints, fillers, pigments, gunpowder and red read.

The Tender concerns 39,288 (say: thirty-nine thousand two hundred and eighty-eight) shares constituting 29.38% of the Company’s share capital with a nominal value of PLN 50.00 (say: fifty zloty) each.

The minimum purchase price (starting price) is PLN 60.50 (say: sixty zloty and fifty groszy) for one share and PLN 2,376,924.00 (say: two million three hundred and seventy-six thousand nine hundred and twenty-four zloty) for the entire stake of shares.

All interested parties who approach the Ministry of Treasury, room 469, on business days between 12:00 and 2:00 PM, from 31 August 2010 up to the day immediately preceding the deadline for submitting written Offers to purchase the shares of Złoty Stok Farby Sp. z o.o. with registered office in Złoty Stok (hereinafter referred to as “Offers”) and who sign the Confidentiality Obligation, will receive the Company Memorandum, containing information on the legal and financial standing of the Company, the Detailed Terms and Conditions of Tender, containing information on the requirements applying to the participants of the Tender and the conditions to be met by the Offer to purchase shares, as well as the Sample Share Purchase Agreement.

In order to obtain the above mentioned documents, the interested parties will be required to produce: an identity document, a power of attorney to act on behalf of the interested party, proof of payment of the fee for the Company Memorandum, and a transcript from the Register of Entrepreneurs of the National Court Register (for entrepreneurs entered in the Register of Entrepreneurs), or a certificate confirming entry in the Register of Business Activity (in case of natural persons conducting business activity), showing the current representation of the entity (certificate must be issued not earlier than three months prior to the date of submission).

If the bidder is a foreign entity, the submitted documents made in a foreign language must be translated into the Polish language by a certified translator.

The fee for the Company Memorandum is PLN 100 payable to the cashier of the Ministry Treasury, room 372, between 12:00 and 2:00 PM, or directly to the bank account of the Ministry of Treasury held with Bank Gospodarstwa Krajowego S.A., Branch No. 1 in Warsaw, account no. 83113010170019942625200008 (payment reason: “Company Memorandum of Złoty Stok Farby Sp. z o.o. with registered office in Złoty Stok.”)

The person responsible for making the above documentation available to bidders is Ms Aneta Mazek, Ministry of Treasury, room 469, tel. (022) 695 83 35.

Prior to participation in the Tender, Bidders are obliged to make a bid security deposit of PLN 116,200.00 (say: one hundred and sixteen thousand two hundred zloty) by bank transfer to the account of the Ministry of Treasury held with Bank Gospodarstwa Krajowego S.A., Branch No. 1 in Warsaw, account no. 13113010170019942625200007, by the day immediately preceding the deadline for submitting written offers to purchase the Company shares. Confirmation of payment of the bid security deposit must be attached to the Offer.

The deadline for submitting Offers to purchase the Company shares is 4 October 2010 at 2:00 PM Warsaw time. Offers must be made in the Polish language and submitted in single copy, in a sealed envelope, to the front office of the Department of Owner Supervision and Privatisation I (room 477) at the Ministry of Treasury, 00-522 Warszawa, ul. Krucza 36/Wspólna 6. The envelope should be marked: “Przetarg – Złoty Stok Farby Sp. z o.o. z siedzibą w Złotym Stoku – nie otwierać” (Tender – Złoty Stok Farby Sp. z o.o. with registered office in Złoty Stok – Do not open) and must also include the identification details of the bidder.

Envelopes will be opened on 4 October 2010 at 2:30 PM at the Seller’s headquarters, room 477.

Following submission, the offer shall be binding for the Bidder until notified that another Offer has been selected, however not longer than 180 days from the date of announcing the Tender.

Considered will only be those offers which were submitted by bidders who signed the Confidentiality Obligation and collected the Detailed Terms and Conditions of Tender and the Company Information.

The sole substantive criterion subjected to evaluation will be the price for the shares.

Bidders will be immediately advised of Tender results in writing.

The Share Purchase Agreement will be concluded not later than 60 days after advising the bidder that the bidder’s offer has won. Payment for the shares must be made by certified cheque or by transfer to the account of the Seller prior to the conclusion of the Share Purchase Agreement.

The Minister of Treasury allows the possibility to accept payment of the purchase price for the shares in instalments on condition that the Investor provides a security for the outstanding part of the price. The first instalment must be not less than 20% (say: twenty per cent) of the full purchase price for the shares. The remaining amount should be paid within 3 years following the day of conclusion of the Share Purchase Agreement and interests should be charged pursuant to Article 35 of the Commercialisation and Privatisation Act of 30 August 1996 (Journal of Laws of 2002 No. 171, item 1397, as amended) according to the variable interest rate in the amount equal to a base rate set by the European Commission, increased by a margin of 200 basis points, i.e. by 2 percentage points and not lower than the value of the price index of investment goods provided quarterly by the President of the Polish Central Statistical Office in the Official Journal of the Republic of Poland “Monitor Polski.” The interest rate is subject to change in accordance with the abovementioned rule. The change shall come into effect on the day of introduction of new base rate.

Upon selecting the winning offer, the bid security deposit made by the winning bidder will be credited towards the price for the Company shares. Bid security deposits made by the remaining bidders will be immediately returned in accordance with applicable regulations. Should the winning bidder avoid the Share Purchase Agreement, the security paid by such bidder will not be returned. Offers submitted after the stipulated deadline and/or failing to comply with the terms specified herein will be rejected.

The Seller reserves the right to extend the deadline for submitting offers and to withdraw from the tender without giving reasons.

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