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:

Przedsiębiorstwo Komunikacji Samochodowej w Lublińcu Sp. z o.o.
with registered office in Lubliniec
(hereinafter referred to as the “Company”)

The Company’s core business activities include passenger land transport; urban and suburban passenger land transport; other land passenger transport; land transport of goods; repair and maintenance of vehicles; support services for land transport.

The Tender concerns 51,000 (fifty-one thousand) shares with a nominal value of PLN 50.00 (fifty zloty) each, constituting 85% of the Company’s share capital.

Pursuant to Article 36(1) of the Act, eligible employees of the Company are entitled to acquire free?of?charge up to 9,000 (nine thousand) shares constituting up to 15% of the Company’s share capital. The Minister of Treasury reserves the right to sell the shares not acquired by eligible employees to an Investor selected through public tender under this invitation if the right of such employees to the free?of?charge acquisition of the shares has expired.

The minimum purchase price (starting price) is PLN 143 (one hundred and forty-three zloty) for one share and PLN 7,293,000 (seven million two hundred and ninety-three thousand zloty) for the entire stake of shares.

All interested parties who approach the Ministry of Treasury, room 463, on weekdays between 12:00 and 2:00 PM, from 8.06.2010 to the day immediately preceding the final date for submitting written Offers to purchase shares in Przedsiębiorstwo Komunikacji Samochodowej w Lublińcu Sp. z o.o. with registered office in Lubliniec (hereinafter referred to as “Offers”), and who sign the Confidentiality Obligation, will receive the following documents: COMPANY MEMORANDUM with information on the legal and financial standing of the Company, Detailed Terms and Conditions of Tender containing information on requirements to be met by Tender participants and conditions applying to share purchase Offers, as well as a Sample Share Purchase Agreement.

In order to collect the above mentioned documents, parties interested in participating in the tender are obliged to produce: an identity document, a power of attorney to act on behalf of the interested party, evidence of payment of the fee for the Company Memorandum, and a transcript from the Register of Entrepreneurs of the National Court Register (in case of 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, documents for submission which are made in a foreign language must be translated into the Polish language by a certified translator.

The fee for the Company Memorandum is PLN 100.00 payable to the cashier at the Ministry Treasury MSP, 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: “MEMORANDUM INFORMACYJNE – Przedsiębiorstwo Komunikacji Samochodowej w Lublińcu Sp. z o.o. z siedzibą w Lublińcu”).

The person responsible for releasing the above documentation is Ms. Marta Kulik-Zawadzka, Ministry of Treasury, room 463, Tel: (022) 695 87 26.

Bidders will be able to acquaint themselves with the Company’s enterprise on a day agreed with the Seller.

Before participating in the Tender, Bidders are obliged to deposit a bid security of PLN 218,790 (two hundred and eighteen thousand seven hundred and ninety 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 day of submitting a written offer to purchase the Company shares. Bid security payment confirmation must be attached to the Offer.

The deadline for submitting Offers to purchase the Company shares expires on 9.07.2010 at 2:00 PM Warsaw time. Offers must be made in the Polish language and submitted in a single copy placed in a sealed envelope to 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 – Przedsiębiorstwo Komunikacji Samochodowej w Lublińcu Sp. z o.o. z siedzibą w Lublińcu – nie otwierać” (Tender – Przedsiębiorstwo Komunikacji Samochodowej w Lublińcu Sp. z o.o. with registered office in Lubliniec – Do not open) and must also bear the identification details of the bidder.

Envelopes will be opened on 9.07.2010 at 2:30 PM at the Seller’s headquarters, room no. 477.

Following submission, offers shall be binding for the Bidders until they are notified that a different Offer has been selected, however not longer than 180 days from the date of announcing the Tender.

Considered will only be offers submitted by bidders who signed the Confidentiality Obligation and collected the Detailed Terms and Conditions of Tender and the COMPANY MEMORANDUM.

The sole substantial criterion to be evaluated will be the price offered for the shares.

Bidders will be immediately notified in writing of Tender results.
 
The Share Purchase Agreement will be concluded not later than 60 days after notifying a bidder that their offer has been selected. 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 Seller only accepts full payment for the stake of shares sold by tender.

Upon selecting the winning offer, the bid security paid by the winning bidder will be credited towards the price of purchase of Company shares. Bid securities paid by the remaining bidders will be immediately returned in accordance with applicable regulations. Should the bidder avoid the agreement to purchase Company shares, the security paid by such bidder will not be returned. Offers submitted after the stipulated deadline and those which fail to comply with the terms specified herein will be rejected.

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