Investor Reports

To supplement the annual report released for the public on 5 April 2005, pursuant to Para 27 of the Stock Exchange Regulations, the Management Board of ComArch S.A. submits the current statement (36,0kB) concerning Corporate Govenance Prinicples.

The Management of ComArch SA informs that on 22 June 2005 the Supervisory Board of ComArch SA selected PricewaterhouseCoopers Sp. z o.o. as the entity authorised for auditing and reviewing financial statements and consolidated financial statements of ComArch SA.

The Management of ComArch SA releases for the public the report on activities of the Supervisory Board of ComArch SA in 2004, including assessment of the situation of the company in 2004, pursuant to Principle No. 18 of the Corporate Order, resulting from \"Corporate Governance Principles\":

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The Management of the company informs that yesterday it received a signed agreement concluded between ComArch SA and Consortia Sp. z o.o. with the office in Warsaw for delivery of computer hardware along with software.

The Management of ComArch SA informs that on 07 June 2005 it received a signed agreement for a multi-purpose multi-currency credit line with Bank BPH SA with its registered seat in Krakow.

The Management of ComArch SA informs that on 31 May 2005 it received a signed agreement for a multi-purpose credit line with Fortis Bank Polska SA with the office in Warsaw.

The Management of ComArch Spólka Akcyjna with the office in Krakow, acting on the basis of the provision of Article 395 Para 1 and Article 399 Para 1 of the Commercial Companies\' Code and Para 14 of the company\'s Statute, convenes the General Shareholders\' Meeting on 30 June 2005, at 8:30 in Krakow, Aleja Jana Pawla II 39A.