Share operation history

13.05.1998

Legal foundation: Resolution No 1 of Extraordinary General Meeting of ZUK ELZAB SA dated 7th January, 2008.
Replacement of 1 share of nominal value PLN 13,60 into 10 shares of value PLN 1,36 (split 1:10)
Share division date: 30th April, 2008. (Resolution No 237/08 of KDPW Management Board dated 23.04.2008)

Payment of dividend on profit:	for 1998	for 2002	for 2004	for 2005	for 2006
Legal foundation: GM resolution	Nr2/31.05.1999	Nr2/10.06.2003	Nr2/21.06.2005	Nr2 i 3 18.05.2006	Nr2 29.05.2007
Date of entitlement to dividend	18.06.1999	30.06.2003	05.07.2005	02.06.2006	20.07.2007
Date of dividend payment	05.07.1999	15.07.2003	20.07.2005	20.06.2006	10.08.2007
Dividend per 1 share*)	2,50	1,69	2,65	3,45	2,45
Price of 1 share on date of obtaining entitlement to dividend*)	29,20	10,95	15,95	27,80	56,95
Dividend per 1 share / price of 1 share on date of obtaining entitlement to dividend	8,56%	15,43%	16,61%	12,41%	4,30%

*) before split

On 11.06.2002 MWCR S.p.A. In Milan announced call to subscribe for sale of 916 363 ordinary bearer shares.

Subscription for sale of shares: 18.06.2002 – 17.07.2002

The result of call for sale of shares: within the call MWCR Sp. z o.o. acquired 243 779 Company shares and as a result of the call, MWCR S.p.A. obtained directly 51,68% votes at the Company GM.

A series shares – – taken over by State Treasury upon transformation of State Enterprise ZUK MERA-ELZAB in Zabrze, into a sole trader of the State Treasury: ZUK ELZAB S.A.

Foundation of issue: Deed of transformation of State Enterprise into a Joint Stock Company. The Company equity was covered by the establishment fund and the fund of ZUK MERA-ELZAB enterprise with registered office in Zabrze.

810 000 A series shares (before split) were established as ordinary bearer shares of nominal value PLN 15.00.
As a result of reduction of the share capital and transfer of its part onto the reserve capital in order to cover the loss, the nominal value of series A was reduced to PLN 13,60.
Subscription right: was not applied.

B series shares
Legal foundation: Resolution No 1 of Extraordinary GM of 31.07.1997 in virtue whereof the share capital was increased by PLN 2 040 000 through the issue of 150 000 prescribed privileged shares of nominal value PLN 13,60. The issue price was established on the level of the nominal value.
The issue was directed to the existing Company shareholders and its employees.
Subscription right: excluded

C series shares
Legal foundation: Resolution No 1 of Extraordinary GM of 25.09.1997 in virtue whereof the share capital was increased to PLN 17 217 600 through issue of 306 000 C series ordinary shares of nominal value PLN 13,60.
The issue price was PLN 72,00.
The shares were offered in Public Subscription.
Subscription right: excluded

D series shares
Legal foundation: Resolution No 1 of Extraordinary GM of 07.05.2004 in virtue whereof the share capital was to be increased up to the amount not exceeding PLN 27 430 207,20 through the issue of no more than 750 927 D series ordinary shares of nominal value PLN 13,60.
The issue price of shares was PLN 15,30.
The shares were offered in Public Subscription.
Subscription right: excluded

Finally the share capital was increased by PLN 4 925 362,40, which corresponded to taking over 362 159 D series shares.

1. On 28.01.1999 the Extraordinary GM of ELZAB S.A. passed Resolution No 1 in virtue whereof part of the reserve capital from the profit for 1997 in the amount between PLN 1 to 2 mio was designated for the buyout of the Company own shares for redemption.
   
   In total 14 454 shares were bought. According to Resolution No 9 of ELZAB SA EGM of 08.06.2000, the shares were redeemed. On 17.08.2000 the Court of First Instance in Katowice registered the changes of the share capital resulting from the share redemption.
2. In 2008 ELZAB S.A., pursuant to Resolution 4 of EGM dated 07.01.2008 on buyout of the company own shares for redemption, started the buyout of its own shares on 31.01.2008. On 29.07.2008, the Management Board passed Resolution No 31/2008 in virtue whereof, in relation to the text of Resolution No 26 of AGM dated 2nd July 2008 on amendment of resolution No 4 dated 7th January, 2008 on the buyout of the Company own shares for redemption, decided to finish the buyout of its own shares for redemption on 31st July, 2008.
   
   ”The Program of buying out the company own shares by ELZAB S.A. for redemption” was completed on 31st July, 2008. as approved by the Management Board resolution No 6/2008, amended by the Management Board resolution No 29/2008 of 2nd July, 2008. In total, ELZAB S.A. bought out 405 662 own shares for redemption, representing 2,514 % of the share capital and entitling to 405 662 votes (2,291 %) at the GM. The average price of the shares bought was PLN 4,913.
   The shares have not been redeemed yet.

Item	Number of converted shares	Number of privileged shares upon conversion	Conversion date	Assimilation and including in stock exchange date
Number of prescribed privileged shares before conversions: 150 000
1	75	149 925	03.09.2007	14.09.2008
2	105 619	44 306	05.11.2007	22.11.2008
3	75	44 231	01.02.2008	19.02.2008
	split of shares 1:10	442 310	30.04.2008
4	49 770	392 540	01.07.2008	28.07.2008