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The deadline for submitting written replies expires on 22 September 2010 at 2:00 PM (Warsaw time).

Minister of Treasury
of the REPUBLIC OF POLAND

invites to negotiations regarding direct privatization process of

Polskie Ratownictwo Okrętowe Przedsiębiorstwo Państwowe
with registered office in Gdynia

Minister of Treasury with registered office in Warsaw, ul. Krucza 36/Wspólna 6, 00-522 Warszawa, acting on behalf of the State Treasury, pursuant to Art. 39.1.1 and Art. 48.1.2. of the Act of 30 August 1996 on Commercialisation and Privatisation (Journal of Laws of 2002, No. 171, item 1397, as amended), hereinafter referred to as the “Act”, and pursuant to the Resolution of the Council of Ministers of 14 December 2004 on detailed procedure of sale of enterprise (Journal of Laws of 2004 No. 277, item 2744) extends an invitation to negotiations to all interested parties regarding the sale of enterprise in awareness of article 551 of Civil Code conducted by state enterprise under name Polskie Ratownictwo Okrętowe with registered office in Gdynia, address: ul. Miodowa 26, 81-558 Gdynia, entered in the register of entrepreneurs of the National Court Register under KRS number 0000029397, hereinafter referred to as the „State Enterprise”.

All concerned, hereinafter referred as "Potential Investors" are invited to submit written confirmation of interest in participating in the negotiations including preliminary price for enterprise with application about admission to due diligence of the State Enterprise.

Replies of Potential Investors should be prepared in Polish and submitted in 2 copies in a sealed envelope at the Ministry of the Treasury, ul. Krucza 36/Wspólna 6, 00-522 Warsaw, at the Registry of the Department of Privatization Project, VII floor, room no. 739.

The envelope must bear the inscription: "Responding to a public invitation to negotiations regarding direct privatization process of Polskie Ratownictwo Okrętowe with registered office in Gdynia - DO NOT OPEN" and the data for the identification of a potential investor.

The deadline for submission of the written response to the public invitation to negotiations by the Potential Investors expires on the date of 22 September 2010 at 14:00 (Warsaw time).

Potential Investor with the reply including application about admission for conducting due diligence must submit information of bank or co-operative cash offices, in which such subject owns account, confirming by him property in amount financial funds not small than 3 000 000 PLN or creditworthiness of the same amount. Information such should be exposed after 30 June 2010.

Due diligence of the State Enterprise can be carried out after signing the "The obligation of confidentiality".

Minister of the Treasury by the deadline of 1 October 2010 in writing inform each of Potential Investors, who has the answer to the publicly announced invitation to negotiations, the outcome of its consideration.

The object of negotiation and the sole criterion of choice of the arbitrated offer will be a price for all tangible and intangible assets of the State Enterprise. Negotiations will be taken with entities which accomplish due diligence and present valid conditions of agreements. Maximum number of subjects with which negotiations will be taken amount to seven.

Potential Investors can acquire for consideration “Information Memorandum” containing information about the legal situation and the economic and financial structure of the State Enterprise.

It belongs in this purpose:

• visit the Ministry of the Treasury, room no. 729, in working days starting from the day of appearance the present invitation to the day precede the deadline of submitting the written response to the public invitation to negotiations, on working hours 10.15 - 12.15 or to Advisor – BUDOSERWIS Z.U.H. Sp. z o.o.: ul. Kościuszki 31, 41-500 Chorzów, telephone (032) 241 24 51 to 57, fax (032) 241 49 56, hereinafter referred as “Advisor”.
• present the current corporate documents, that is copy of the register of entrepreneurs of the National Court Register / certificate of registration in the register of economic activities, reflecting the current representation of the Potential Investor (the date of issue no earlier than three months before presenting the document),
• sign the document the "The obligation of confidentiality"

by people with any power of attorney.

The fee due for making the “Company’s Information Memorandum” available amounts to 100.00 PLN and it is payable in to account of the Ministry of the Treasury in the Bank Gospodarstwa Krajowego SA, I Branch Warsaw, No. 83 1130 1017 0019 9426 2520 0008 or at the box office of the Ministry, room no. 372, Department of General Accounting and Reporting Department of Budget and Finance Committee on Ministry of the Treasury on working hours 12.00 - 14.00.

Persons responsible for the “Company’s Information Memorandum”:

1. Mrs. Agnieszka Kazalska (Ministry of the Treasury),
   phone (22) 695 97 09, e-mail: agnieszka.kazalska@msp.gov.pl.
2. Mr. Marek Walczak (BUDOSERWIS Z.U.H. Sp. z o.o.),
   phone (32) 241 24 51 to 7, e-mail: m.walczak@e.budoserwis.com.pl.

Minister of the Treasury reserves the right to: changes in procedures and timetable for negotiations, extend the deadline for responding to the publicly announced invitation to negotiations and the extension of the deadline to inform the consideration of responses to this invitation, request additional clarification from Potential Investors who submit their response to the publicly announced invitation to negotiations, withdraw from negotiations without giving a reason.

Minister of the Treasury is not liable for any costs incurred by entities interested in direct privatization process of the State Enterprise in connection with participation in the negotiation and conclusion of the sale of the State Enterprise.

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