Concluding annex to credit contract with BRE Bank SA

On November 19, 2009, Stalprofil SA has concluded an annex to the credit contract with BRE Bank SA in Warsaw, that the Company informed about in the current report no. 6/2009.

Following the conclusion of the annex, the credit limit has been increased from 14 million PLN to 10 million PLN to 24 million PLN, while maintaining the period of its validity until March 18, 2010. The value of the basic legal protection under the credit agreement, which is registered pledge on commercial goods owned by Stalprofil, has also been updated. This security, including metallurgical products for the net evidence value of 14 million PLN, has been increased to 20 million PLN. An additional, complementary security under the higher credit limit is assigment of receivables made to the Bank by the issuer with an estimated value of around 4 million PLN, due to the Company from selected contractors from the sale of goods.
Financial conditions on which the Company is going to avail of this credit do not differ from the generally applicable ones and they are based on WIBOR 1M + bank margin.

The company considers the contract important as its value exceeds 10% of the issuer’s equity.