Investor Reports

Pursuant to art. 395 § 1 and to art. 399 § 1 of the Commercial Companies Code and pursuant to § 14 of the company\'s Statute, the Management Board of ComArch S.A. hereby convenes Annual General Shareholders Meeting of ComArch S.A., to be held at 09:00 o\'clock on June 22nd 2006, at Aleja Jana Pawla II 39A in Krakow, Poland:

Pursuant to Art 5, Act 1, Pt 9 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange, ComArch S.A. informs:

Pursuant to Art 5, Act 1, Pt 21 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange, the Management Board of ComArch S.A. informs of the resignation of Mr. Tomasz Maciantowicz, Vice-President of ComArch S.A.\'s Management Board from his position.

Pursuant to Art 5, Act 1, Pt 9 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange, the Management Board of ComArch S.A. informs that received a ruling from the District Court for Krakow-Sródmiescie, XI Economic Division of the National Court Register dated 28 April 2006 concerning transformation of ComArch Services Sp. z.o.o (Ltd) into ComArch Services S.A. (Jsc).

Pursuant to Art 5, Act 1, Pt 3 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange, ComArch S.A. informs that an agreement was signed on 27 April 2006 between ComArch S.A. and Polkomtel S.A. for implementation of the Comarch InterPartner Billing system.

Pursuant to Art. 65, Act 1, Pt. 1 of the Act concerning public tenders, the terms of introducing and trading financial instruments on the stock exchange as well as public companies, the Management Board of ComArch S.A. hereby presents ComArch S.A.\'s financial reports and statements made public in 2005 are available at www.comarch.com.

ComArch SA received notice on 21.04.2006 that with Resolution Nr 202/06 dated 21.04.2006, the Management Board of the National Depository for Securities, Poland (KDPW) decided to assimilate 20,650 shares of the company, marked with the code PLCOMAR00095 (series H shares) with 5,730,920 shares of the company, marked with the code PLCOMAR00012.

Pursuant to Art 34, Act 1, Pt 2 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange, ComArch S.A. informs that with Resolution Nr 112/2006 dated 19.04.2006 in accordance with Art 19, Act 1 and 2 of the Stock Exchange Regulations, the Management Board of the Warsaw Stock Exchange approved for admission to the Official List 20,650 ComArch ordinary bearer series G3 shares, with a nominal value of 1 PLN.