Investor Reports

On 30 December 2005, ComArch SA received an agreement signed by Budostal-2 SA with headquarters in Cracow for the completion of the 2nd investment stage in the Special Economic Zone in Cracow, which entails construction of a complex of buildings to be used for IT system production works.

ComArch SA received today a signed amendment to a multi-purpose loan line agreement with Fortis Bank Polska SA, with headquarters in Warsaw.

ComArch SA informs that it has received notification today from Mrs Elzbieta Filipiak and Mr Janusz Filipiak concerning their acquisition of 94,000 inscribed ComArch SA shares on 28 October 2005 as a result of which they have become the shareholders of 3,289,393 shares providing them with 10,245,393 votes at the Annual General Meeting.

On 28 October 2005, the ComArch SA consortium together with the Polish Foundation of Computer Education (Ogólnopolska Fundacja Edukacji Komputerowej) signed an agreement with the Ministry of Education and Science for the supply, installation and integration of all elements of multimedia information internet centres (MIIC) in school libraries, regional pedagogical libraries and branches of regional pedagogical libraries throughout Poland.

ComArch SA was informed that an agreement was signed today for the sale of 94,000 ComArch registered preference shares. Resultant from the sale, Mr. Janusz Filipiak and Mrs. Elzbieta Filipiak acquired 47,000 series A shares and 47,000 series B shares from Mr. Tomasz Maciantowicz, valued at 60 PLN per share.

The Management of ComArch SA informs about the signing of a framework agreement with a leading global energy supplier for the construction, implementation, integration and maintenance of a global loyalty system based on the ComArch AURUM Loyalty Care solution.

ComArch SA was informed today that between 10 and 14 October 2005, the company\'s Management Board Vice-President sold 852 ordinary ComArch SA shares at the Warsaw Stock Exchange, valued at 61.50 PLN each.

The Management of ComArch SA passed a resolution today concerning the registration that took place on 7 October 2005 of a limited liability company - UAB \'ComArch\' with headquarters in Vilnius, Lithuania as a wholly-owned ComArch SA subsidiary.