Echo Investment SA : Current report no. 1/2013

02-01-2013 Current report no. 1/2013

Notification from a significant shareholder

The Management Board of Echo Investment S.A. (hereinafter referred to as the Issuer or the Company) hereby reports that on January 2, 2013 the Issuer received a notification from ING  Powszechne Towarzystwo Emerytalne S.A. [ING Universal Pension Fund Management Company], which communicates that as a result of a disposal of the Issuer's shares on the Warsaw Stock Exchange, which was cleared on December 20, 2012, ING Otwarty Fundusz Emerytalny [ING Open Pension Fund] (hereinafter referred to as the Fund) decreased the number of the Company's shares held by a minimum of 2% votes at the general meeting of the Company's shareholders.

Before the aforementioned disposal of shares the Fund held 47,369,720 (forty seven million three hundred sixty nine thousand seven hundred and twenty) shares of the Company, which corresponded to 11.28% of the Company's share capital, and was entitled to 47,369,720 (forty seven million three hundred sixty nine thousand seven hundred and twenty) votes at the general meeting of the Company's shareholders, which constituted 11.28% of the total number of votes.

On December 27, 2012 there were 44,569,720 (forty four million five hundred sixty nine thousand seven hundred twenty) shares of the Company on the Fund's stock account, which corresponds to 10.61% of the Company's share capital. The shares carry 44,569,720 (forty four million five hundred sixty nine thousand seven hundred twenty) votes at the general meeting of the Company's shareholders, which constitutes 10.61% of the total number of votes.

In the next 12 months the Fund does not preclude increasing or decreasing the number of shares depending on market conditions and the functioning of the company. The purpose of the acquisition of the company's shares is investing cash as part of the Fund's investment activities.

Legal basis: Art. 70 (1) of the Act on Public Quotations and Conditions of Introducing Financial Instruments to Organized Trade and on Public Companies of July 29, 2005 (Journal of Laws No. 185 item 1439).