Information provided by the Management Board of Impel SA about non-observance of the new or amended rules of the Code of Best Practices for WSE Listed Companies, effective as of July 1st 2010

Pursuant to Art 29.3 of the Rules of the Warsaw Stock Exchange, the Management Board of Impel SA informs about non-observance of the new or amended rules included in the document entitled "The Code of Best Practices for WSE Listed Companies", constituting an enclosure to Resolution of the Supervisory Board of the Stock Exchange No. 17/1249/2010 of May 19th 2010:

Rules II.3. and III.9 "The Management Board, before concluding a significant agreement with a related entity, shall require approval of the transaction/agreement from the Supervisory Board. This obligation does not apply to typical transactions, concluded at arm's length (...)." "Conclusion of a significant agreement/transaction between a company and its related entity, which meets the conditions referred to in section II.3, shall require approval of the Supervisory Board."

Due to the scale of business and organisational links among the Impel Group companies, implementation of this rule would considerably hinder daily operations. The Issuer gives great attention to ensure that the transactions made between the Company and its related entities are concluded at arm's length. In addition, Impel SA reports on all transactions with its related entities, and stores their documentation in compliance with the provisions of Art. 9a of the Corporate Income Tax Act (Dz. U. of 2000, No. 54, Item 654 as amended).

Rule II.1.14 "The Company maintains a corporate website and places on it, apart from the information required by the provision of law:
14) information about the content of the rule, binding in the Company, regarding a change of an entity qualified for auditing financial statements or about the lack of such rule"

At present the Issuer does not have on its website any information about the rule binding in the Company (or its lack) regarding a change of an entity qualified for auditing financial statements.