Pursuant to Art. 56 sec. 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, ComArch S.A.'s Management Board announces that on 12 February 2007, the company's Board of Supervisors passed a resolution no. 1/2/2007 concerning execution of managerial option programme.

This option is dedicated to members of ComArch S.A.'s Management Board and key employees within the framework of a programme that was established in Resolution No. 51 of the company's Ordinary Annual General Meeting dated 30 June 2005. According to &1 pt 1) of this resolution, basing on the company's quotations on Warsaw Stock Exchange, the Board of Supervisors agreed an increase in the company's cap of  1,098,010,607.08 PLN (in words: one milliard ninety-eight million ten thousand six hundred seven and 8/100). The Board of Supervisors agreed an option's value in the amount of 8.2% of the increase in cap, i.e. 90,036,869.78 (in words: ninety million thirty-six thousand eight hundred sixty-nine and 78/100).

At the same time, the Board of Supervisors declared that 441,834 (in words: four hundred forty-one thousand eight hundred thirty four) series I2 ordinary bearer shares will be issued, of nominal value of 1 PLN and issue price of 1 PLN.

The Management Board was obliged by the Board of Supervisors to pass a resolution on issue of series I2 shares on above terms during 30 days. In relation to the programme's  targets, the Board of Supervisors assented to exclude a stock right of current company's shareholders.