Investor Reports

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.

ComArch SA informs that on 30 September 2005, it signed an agreement with the Ministry of Education and Science for the supply, installation and integration of computer labs in five Polish administrative regions: the lubelskie, pomorskie, zachodniopomorskie, kujawsko-pomorskie and warminsko-mazurskie regions.

On 21 September 2005, ComArch S.A. adopted the information that on 16 September 2005, the company\'s Management Board Vice-President sold 5,000 of ordinary ComArch S.A. shares at the Warsaw Stock Exchange, valued at 59.60 PLN each.

On 21 September 2005, ComArch S.A. was informed that on 16 September 2005, the company\'s Management Board Vice-President sold 5,000 ordinary ComArch S.A. shares at the Warsaw Stock Exchange, valued at 59.60 PLN each.

The Management Board of ComArch S.A. has received notice from BZ WBK AIB Towarzystwo Funduszy Inwestycyjnych S.A. regarding the acquisition of shares by Arka BZ WBK Zrównowazony FIO on 28 July 2005.