Investor Reports

The Management Board of ComArch S.A. has received notice from BZ WBK AIB Asset Management SA regarding the acquisition of shares by BZ WBK AIB Asset Management SA on 4 July 2005.

STATUTE OF THE COMARCH SPÓLKA AKCYJNA COMPANY The unified text set forth with the resolution of the Supervisory Board of the Company No. 1/6/2005 of 8 June 2005, after entering the changes into the register of the Company with the decision of the Court of 23 June 2005.

The Management of ComArch SA provides the current report on the contents of resolutions passed by the General Assembly of Shareholders on 30 June 2005.

The Management Board of ComArch SA informs that in accordance with the list of shareholders participating in the General Shareholders\' Meeting of ComArch SA on 30 June 2005, two persons held more than 5% of the total number of votes in this Meeting:

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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