OREANDA-NEWS. December 21, 2007. The Management Board of PGF S.A. reports that the Company entered into an agreement with SJM APARTMENTS Sp. z o.o. on the sale of a perpetual usufruct right to real estate situated at ul. Buіgarska 59/61, Poznaс, Poland, entered in the Land and Mortgage Register under No. KW PO1P/00073284/0. The value of the transaction amounted to PLN 32.4m (VAT-inclusive).

Taking into account the value of the transaction, the Management Board of PGF S.A. expects the net profit of the PGF Group in 2007 will be no less than PLN 80m.