The conclusion of loan agreements with BRE Bank SA

On 15 December 2011 the Managenent Board of Stalprofil SA was notified about the conclusion (signing by the Bank) of credit agreement (medium-term) for the amount of PLN 10 million with BRE Bank SA in Warsaw O/Katowice and at the same time the conclusion of addendum to working capital loan agreement (short-term), which reduces the current value of short-term loan to 10 million PLN.
The company has made in this way the conversion of credit limit from short-term to medium-term, protecting itself in the long-term availability of external financing of current economic activity.

As a result of agreements Stalprofil SA can still use the credit limit at BRE Bank SA in total, unchanged valur of 35 million PLN, including:
- revolving working capital loan (medium-term) in the amount of PLN 10 million, until 11 December 2013,
- revolving working capital loan (short-term) in the amount of PLN 10 million, until 16 March 2012,
- multi-currency loan in the current account in the amount of PLN 15 million, until 16 March 2012.
The Company recognizes the agreements concluded to be significant, because their total value exceeds 10% of the equity of the issuer.

Financial conditions under which the Company will use the granted limits do not differ from commonly used for such contracts and are based on WIBOR + margin of the bank.
There have also been unchanged the fundamental legal safeguards in the total credit limit of BRE Bank SA in relation to the securities listed in the publication of the Company\'s current report no. 6/2011, which are: registered pledge on commercial goods owned Stalprofil SA with a total value of the net price at the level of registration 31 million PLN and assignment of receivables with commercial contracts, with an estimated value of 6 million PLN.