Ciech SA

List of Ciech SA Shareholders (5%) (in accordance Art. 69.1 and 69.4 of the Act on public offers and terms of introducing financial instruments into an organised trading system and on public companies of July 29th, 2005 (Polish Journal of Laws Dziennik Ustaw No. 184 item 1539)).

Shareholders	Share type	Number of shares	Share in share capital    (%)	Number of shares of votes at GSM	Share in overall number of votes at GSM (%)
State Treasury	Ordinary bearer share	10.270.800	36.68%	10.270.800	36.68%
Pioneer Pekao Investment Management SA (PPIM)	Ordinary bearer share	4.810.387	17,18%	4.810.387	17,18%
- including Pioneer FIO investment funds (manged by PPIM)		4.810.387	17,18%	4.810.387	17,18%
Open Pension Fund PZU "Złota Jesień"	Ordinary bearer share	1.712.732	6.12%	1.712.732	6.12%

as per 30.08.2010