LIST OF MAJOR FOREIGN INVESTORS IN POLAND. December 2007

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2 LIST OF MAJOR FOREIGN INVESTORS IN POLAND December 2007 Warsaw 2008

3 List of Major Foreign Investors in Poland in 2007 I. Foreign direct investment worldwide, with particular emphasis on the new European Union member states (according to UNCTAD) In 2007 global flows of foreign direct investment (FDI) have reached their historical high of USD 1.8 trillion, reflecting the fourth consecutive year of growth. The 2006 level was surpassed by almost 49%. According to Nations Conference on Trade and Development (UNCTAD), significant growth was recorded in FDI inflows to developed, developing as well as the transitional economies. The value of FDI inflows to the 12 new EU members remained at the same level in 2007 as in 2006, at USD 65 billion. Among the new EU member states, Poland which recorded the highest level of FDI inflow, was followed by Romania, Czech Republic and Bulgaria. Chart 1. FDI worldwide (USD billion) Source: World Investment Report 2008 Chart 2. Inflow of FDI to the new EU member states in (USD billion) 64,2 64,8 40,1 48,6 18, Source: World Investment Report

4 Table 1. Value of FDI inflow to the new EU Central and Eastern Europe member states (USD billion) Source: World Investment Report 2008 * Based on preliminary data. Final FDI inflow was USD 23.0 bn. II. FDI in Poland (according to the National Bank of Poland) According to the National Bank of Poland in 2007 FDI in Poland amounted to EUR 16,582 million. It increased by EUR 1,521 million (10% increase over 2006). The profile of the foreign capital inflow in the form of FDI in 2007 is presented below. Table 2. FDI inflow to Poland in 2006 & 2007 (million EUR) Source: National Bank of Poland Poland * Romania Czech Republic Bulgaria Hungary Slovakia Estonia Latvia Lithuania Slovenia Year Elements of capital inflow Total Equity capital Reinvested profits Other capital ,632 4,359 5,071 15, ,481 6,615 4,486 16,582 The figure of EUR 16,582 million consists of funds for the purchase of Polish companies shares (EUR 5,481 million), reinvested profits (EUR 6,615 million) and other capital flows (EUR 4,486 million). It shall be noted that in 2007 reinvested profits were the major component of FDI, making up almost 40 % of all FDI inflows, recording 50% growth over This tendency is highly positive, indicating growing Poland s attractiveness for foreign investors. Equity capital spending remained stable, whereas other capital inflows showed slight 12% decrease. III. Economic activity of companies with foreign capital in 2006 (according to Polish Statistical Office) 1. Number of companies with foreign capital in In 2006 Polish Statistical Office (GUS) recorded in Poland 18,015 companies with foreign capital, 7% more than in Among 1831 new entities with foreign capital, the vast majority (1675 companies) was greenfields. Among all the companies, the major group (14,500 or 81.4%) was small companies, i.e. those employing up to 49 people. The greatest importance, however, had 1008 large companies (employing over 250 persons), which accounted for 60% of share capital, 58% of fixed asset outlays and 71% of employment. In terms of the business sector, the 28.5% of all companies were active in trade and repairs sector, 27.9% operated in industrial processing sector and 22.1% offered real estate and business services. As far as the country of investors is concerned, the greatest ber of companies were those with German capital (5,718), followed by Dutch (1,944) and French (1,075) investments. 2. Employment in companies with foreign capital. In 2006 the companies polled by GUS employed 1,313,359 people. The greatest ber, 923,973 persons, was employed by the largest companies. The ber of employees in medium-sized companies ( employees) was 269,887 people (21%) of total employment. Small companies represented only 9% of employment in all companies with foreign capital (119,499 employees). 4

5 The most erous group among all (50% of all employees) worked in companies from industrial processing sector, while 20.4% were employed in trade and repairs. IV. Foreign investors in Poland (according to PAIiIZ) As in previous years, a team from PAIiIZ conducted a study among entities with foreign capital. 1,500 companies were invited to participate. All had to have a foreign investor who held at least 10% of shares. The participating companies ranged from the largest foreign enterprises that invested in Poland in the past years to nascent companies that have invested capital in Poland for the first time. 1,237 companies from 40 countries were included in the List of Major Foreign Investors in Poland. The most erous group were investors from Germany (271), the States (142), and the Netherlands (141). Companies from these three countries together made up 44.6% of the investments studied by PAIiIZ. Detailed information on investors from specific countries is presented in tables throughout this publication. 5

6 List of Major Foreign Investors in Poland by country of the capital December 2007 Rec. Investor name of Australia 1. Amcor Ltd. Australia Australia pulp 2. Lend Lease Central Europe articles of paper and paperboard; Australia Australia Construction; Building of complete constructions or parts thereof; civil engineering; Austria 3. AHA Wien Austria Austria Real estate, renting 4. Alpla Austria Austria rubber 5. Aluplast Austria 6. Arlberger Bergbahnen AG 7. Bau Holding Strabag AG 8. Benda-Lutz 9. Coface Central Europe Holding AG 10. E. Hawle Armaturenwerke Austria Austria rubber Austria Austria Transport, storage and Austria Austria Construction; Hotels and restaurants; Austria Austria metals and metal Austria Austria Real estate, renting Austria Austria 11. Erste Bank Austria Austria 12. Eurofoam Austria Austria chemical 13. EUROPOLIS INVEST Austria Austria Real estate, renting 14. Festo Austria Austria 15. Generali Holding Vienna AG Austria Austria Advertising; plastic plastic Other land transport; Building of complete constructions or parts thereof; civil engineering; Hotels; basic precious and nonferrous metals; Legal, accounting, book-keeping and auditing tax consultancy; market research and public opinion polling; business and management consultancy; holdings; machinery for the production and use of mechanical power, except aircraft, vehicle and cycle engines; Activities auxiliary to financial intermediation, except insurance and pension funding; manmade fibres; Real estate activities with own property; electric motors, generators and transformers; Insurance and pension funding, except compulsory social security; Amcor Rentsch Polska Sp. z o.o. - Łódź; Amcor Flexibles Polska Sp. z o.o. - Łódź Wiśniowy Business Park AHA Sp. z o.o. Alpla Sp. z o.o. - Żywiec Aluplast Polska Sp. z o.o. - Poznań Sudety Lift Sp. z o.o. - Szklarska Poręba Strabag Sp. z o.o. ; Hotele Warszawskie Syrena Sp. z o.o. Benda-Lutz Skawina Sp. z o.o. - Skawina Coface Poland Credit Managemend Services Hawle Fabryka Armatury Sp. z o.o. - Koziegłowy Erste Securities Polska S.A. Kerko Sp. z o.o.; Eurofoam Polska Sp. z o.o. - Zgierz; Caria Sp. z o.o. Europolis Invest Sp. z o.o. Festo Sp. z o.o. - Raszyn Generali Życie Towarzystwo Ubezpieczeń S.A. ; Generali Towarzystwo Ubezpieczeń S.A. ; Generali PTE S.A. ; Generali Finance Sp. z o.o. 6

7 16. GfK Austria 17. Greiner Perfoam of Austria Austria Real estate, renting Austria Austria chemical 18. Henkel CEE Austria Austria chemical 19. Herz Austria Austria 20. Intermarket Bank AG 21. Intersnack Knabber Gebaeck & Co. K.G. 22. Julius Meinl International AG 23. Kludi Armaturen Austria Austria Austria Legal, accounting, book-keeping and auditing tax consultancy; market research and public opinion polling; business and management consultancy; holdings; manmade fibres; soap and detergents, cleaning and polishing preparations, perfumes and toilet preparations; Wholesale of non-agricultural intermediate products, waste and scrap; Wholesale of non-agricultural intermediate products, waste and scrap; Other financial GfK Polonia Sp. z o.o. Greiner Perfoam Sp. z o.o. - Ozorków Henkel Polska Sp. z o.o. Herz Armatura i Systemy Grzewcze - Wieliczka Polfactor S.A. Austria Austria Hotels and restaurants; Hotels; Syrena International Sp. z o.o. Austria Austria Austria Austria 24. Michael Leier Austria Austria other 25. Neuber Austria Austria 26. Neupack Austria Austria pulp 27. Polmarck Austria Austria Real estate, renting 28. POLYTEC HOLDING AG 29. Porr International/ Chopin Austria Austria Retail sale in nonspecialized stores; Wholesale of non-agricultural intermediate products, waste and scrap; machinery for the production and use of mechanical power, except aircraft, vehicle and cycle engines; bricks, tiles and construction products, in baked clay; Wholesale of non-agricultural intermediate products, waste and scrap; articles of paper and paperboard; Advertising; parts Julius Meinl S.A. - Kraków Kludi Armaturen Sp. z o.o. - Opole Leier Polska S.A.; Leier Sp. z o.o. - Malbork Brenntag Polska Sp. z o.o. - Kędzierzyn-Koźle Neupack Polska Sp. z o.o. - Bydgoszcz AHA Sp. z o.o. Polytec Interior Polska Sp. z o.o. - Tomaszów Mazowiecki Austria Austria Hotels and restaurants; Hotels; Porr Polska S.A. ; Cafe Chopin Sp. z o.o. - Katowice 7

8 30. Premium Packaging Tiefdruck Produtions 31. Raiffeisen Zentralbank Osterreich AG 32. Rigips Austria 33. S&T System Integration & Technology Distribution AG 34. Soke Handels GMBH Austria 35. Spedition Trade Trans Holding 36. Stalco Holding 37. Telekom Austria 38. TLH Verwaltungsund Beteiligungs 39. UNIQA International 40. Vogel & Noot Waermetechnik AG of Austria Austria pulp Austria Austria Austria Austria other Austria Austria Real estate, renting Austria Austria Austria Austria Transport, storage and articles of paper and paperboard; Other financial articles of concrete, plaster and cement; Computer and related Other retail sale of new goods in specialized stores; Activities of other transport agencies; Austria Austria Construction; Building of complete constructions or parts thereof; civil engineering; Austria Austria Transport, storage and Telecommunications; Austria Austria wood and wooden Austria Austria Austria Austria metals and metal Sawmilling and planing of wood; impregnation of wood; Insurance and pension funding, except compulsory social security; tanks, reservoirs and containers of metal; manufacture of central heating radiators and boilers; 41. Warimpex Austria Austria Construction; Building of complete constructions or parts thereof; civil engineering; 42. Wiener Städtische Versicherung AG Vienna Insurance Group 43. Wiener Staedtische Allgemeine Versicherung AG 44. Wienerberger Ziegelindustrie AG Austria Austria Austria Austria Austria Austria other Insurance and pension funding, except compulsory social security; Insurance and pension funding, except compulsory social security; nonrefractory ceramic goods other than for construction purposes; manufacture of refractory ceramic 45. Wilkosz Austria Austria Construction; Building of complete constructions or parts thereof; civil engineering; Wall Kraków Sp. z o. o. - Kłaj Raiffeisen Leasing Polska S.A. ; Raiffeisen Factoring Polska Sp. z o.o. - Warszawa; Raiffeisen Investment Polska Sp. z o.o. ; Raiffeisen Bank Polska S.A. Saint-Gobain Construction Product Sp.z o.o. S & T Services Polska Sp. z o.o. Mapa Spontex Polska Sp. z o.o. - Kraków Przedsiębiorstwo Spedycyjne Trade Trans Sp. z o.o. Zeman Hale-Dachy-Fasady Sp. z o.o. - Świętochłowice etel Polska Sp. z o.o. TLH Polska Sp. z o. o. - Białe Błota Uniqa Towarzystwo Ubezpieczeń S.A. - Łódź; Uniqa Towarzystwo Ubezpieczeń Oddział w Szczecinie - Szczecin VNH Fabryka Grzejników Sp. z o.o. - Wałcz Warimpex Polska Sp. z o.o. InterRisk Towarzytwo Ubezpieczeń Spółka Akcyjna Vienna Insurance Group Royal Polska Towarzystwo Ubezpieczeń na Życie S.A. ; Compensa Życie S.A. ; BTUiR Heros S.A. Wienerberger Ceramika Budowlana Sp. z o.o. - Main office in Warsaw. 14 production sites in Poland: in Lębork; Zielonka; Dobre; Konin; Gietrzwałd; Częstochowa; Złocieniec; Toruń; Jankowa Żagańska; Osiek; Nowy Sącz; Kupno; Kolbuszowa; Kunice Investbau - Płock 8

9 Rec. Investor name of 46. Wuestenrot AG Austria Austria Belgium 47. ACP Europe Belgium Belgium chemical 48. BELBAL Belgium Belgium rubber 49. Betafence N.V. Belgium Belgium metals and metal 50. BOS Automotive Products Belgie N.V. 51. Brouwerij Palm N.V. 52. Cartamundi Group 53. Chaufourneries de Hergenrath 54. Democo Poland Sp. z o.o. Belgium Germany Belgium Belgium food, Belgium Belgium Belgium Belgium other Belgium Belgium Real estate, renting 55. Dossche Belgium Belgium food, 56. Elbicon Belgium Belgium 57. Electrabel S.A. Belgium Belgium Electricity, gas and water supply; 58. FNE Belgium Belgium metals and metal 59. Fortis Bank NV/S.A. 60. GE Power Controls Belgium B.V. 61. Gyproc Benelux S.A. 62. Henschel Engineering N.V. Belgium Belgium Belgium Belgium Belgium Belgium other Belgium Belgium metals and metal 63. Holdes N.V. Belgium Belgium Agriculture, hunting and forestry; 64. Józef Felix Nawrot Belgium Belgium Insurance and pension funding, except compulsory social security; basic chemicals; rubber other fabricated metal parts beverages; Other retail sale of new goods in specialized stores; cement, lime and plaster; Architectural and engineering activities and related technical consultancy; prepared animal feeds; office computers; Production and distribution of electricity; other fabricated metal Monetary Other retail sale of new goods in specialized stores; cement, lime and plaster; structural metal Agriculture, hunting and related service Sale of motor vehicles; Wustenrot Życie Towarzystwo Ubezpieczeniowe S.A. ACP Polska & CarboWil - Włocławek MBF Sp. z o.o. - Tczew; BELBAL Aerial Promotion S.A. - Straszyn Betafence Sp. z o.o. - Kotlarnia BOS Automotive Products Polska Sp. z o.o. - Tychy Kompania Piwowarska Browar Kielce - Kielce Cartamundi Polska Sp. z o.o. - Stare Babice Lhois Opolwap S.A. - Tarnów Opolski Democo Poland Sp. z o.o. - Tarnowo Podgórne Dossche Sp. z o.o. - Kalisz Visitronics Spółka z o.o. Elektrownia Połaniec Spółka Akcyjna-Grupa Electrabel Polska - Połaniec; Electrabel Polska Sp. z o.o. - Katowice Bekaert - Kotlarnia Sp. z o.o. Fortis Prevet Investment Polska ; Fortis Lease Polska Sp. z o.o. ; Fortis Bank Polska S.A. ; Dominet Bank S.A. - Lubin Elektroskandia S.A. - Poznań Nida Gips Sp. z o.o. Teleskop Sp. z o.o. - Kostrzyn Hollas Sp. z o.o. - Pasłęk; Andrilla Sp. z o.o. Nawrot Sp. z o.o. - Długołęka 9

10 Rec. Investor name of 65. KBC Bank N.V. Belgium Belgium 66. Kinepolis Group Belgium Belgium Other community, social and personal service 67. Koramic Building Products N.V. Belgium Belgium other 68. Lhoist Belgium Belgium other 69. Materne-Confilux S.A. Belgium Belgium food, 70. Pregis N.V. Belgium Belgium rubber 71. Radson N.V. Belgium Belgium 72. Rom Heribert Belgium Belgium furniture and consumer goods; 73. Solvay Belgium Belgium chemical 74. Toyota Belgium Japan 75. TPF HOLDING S.A. Belgium Belgium Real estate, renting Canada 76. Apotex Inc. Canada Canada chemical 77. Bata Shoes Canada Czech Republic 78. Bombardier Transportation 79. Chapman Ice Cream 80. Europort Grain Terminal leather and leather Canada Canada Canada Canada food, Canada Canada Transport, storage and 81. Gestion Max Canada Canada Real estate, renting Insurance and pension funding, except compulsory social security; Monetary Motion picture and video bricks, tiles and construction products, in baked clay; cement, lime and plaster; Processing and preserving of fruit and vegetables; plastic Wholesale of furniture; soap and detergents, cleaning and polishing preparations, perfumes and toilet preparations; parts Architectural and engineering activities and related technical consultancy; pharmaceuticals, medicinal chemicals and botanical footwear; other transport equipment n.e.c.; dairy Cargo handling and storage; Architectural and engineering activities and related technical consultancy; Chmielna Inwestycje Sp. z o.o. ; Towarzystwo Ubezpieczeń i Reasekuracji Warta S.A. ; Towarzystwo Ubezpieczeń na Życie Warta S.A. ; Kredyt Bank S.A. ; Agropolisa S.A. Cienemacity Kinepolis Polska Sp. z o.o. - Poznań Koramic Pokrycia Dachowe Sp. z o.o. Lhoist - Bukowa Sp. z o.o. - Materne-Polska Sp. z o.o. - Wąwolnica Pregis Sp.z o.o - Gliwice Rettig Heating Sp. z o.o. - Rybnik; Radson Panele Grzewcze Sp. z o.o. - Bydgoszcz Zebra Sp. z o.o. - Dzierżoniów Solvay Chemia Sp. z o.o. Toyota Motor Poland Co. LTD. Sp. z o.o. ; Toyota Motor Manufacturing Poland Sp. z o.o. - Wałbrzych; Toyota Motor Industries Poland Sp. z o.o. - Łęg; Toyota Bank Polska S.A. E&L Architects Sp. z o.o. Apotex Inc. Bata Poland Sp. z o.o. Bombardier Transportation Polska Sp. z o.o. - Wrocław Chapman Ice Cream Poland Sp. z o.o. - Poznań Europort Grain Terminal - Gdańsk ECO ABC Sp. z o.o. - Bełchatów 10

11 82. Goodrich Aerospace Canada LTD. 83. GUEST-TEK IN- TERNATIONAL GROUP LTD. 84. Pan Smak Pizza Inc. 85. Pratt & Whitney Canada 86. Royal Group Technologies of Canada USA Canada Canada Real estate, renting aircraft and spacecraft; Database Goodrich Krosno Sp. z o.o. - Krosno Europejskie Centrum Usług Canada Canada Hotels and restaurants; Restaurants; Pizzerie Pan Smak Sp. z o.o. - Wrocław Canada Canada Canada Canada other aircraft and spacecraft; articles of concrete, plaster and cement; 87. Sidney Braaksma Canada Canada Construction; Building of complete constructions or parts thereof; civil engineering; 88. Staight Crosing Canada Canada Transport, storage and 89. Wentworth Technologies Co. Ltd. Canada Canada rubber China 90. Digital View China China 91. Dong Yun China China metals and metal 92. Min Hoong Development Co. 93. Sino Frontier Properties Ltd. 94. Suzhou Victory Precision Manufacture Co. 95. TPV Technology Ltd. Sea and coastal water transport; plastic television and radio receivers, sound or video recording or reproducing apparatus and associated goods; Forging, pressing, stamping and roll forming of metal; powder metallurgy; Pratt & Whitney Kalisz Sp. z o.o. - Kalisz; Royal Europa Sp. z o.o. - Polkowice Kan-Bud Sp. z o.o. - Kąkolewo EuroPort Inc. Poland - Gdańsk Wentworth Tech Sp. z o. o. - Poniatowa; Wentworth Tech Central Sp. z o.o. - Bydgoszcz; Amhil Europa Sp. z o.o. Digital View Sp. z o.o. - Koszalin Dong Yun (Poland) Sp. z o.o. - Łódź China China Hotels and restaurants; Hotels; Min Hoong Development Co. Pte. Ltd. Poland Sp. z o.o. - Sopot China China Construction; Building of complete constructions or parts thereof; civil engineering; China China rubber China China Croatia 96. Pliva d.d. Croatia Croatia chemical 97. Podravka d.d. Croatia Croatia food, Cyprus 98. ASBISC Enterprises Plc. Cyprus Cyprus plastic television and radio receivers, sound or video recording or reproducing apparatus and associated goods; pharmaceuticals, medicinal chemicals and botanical other food Other retail sale of new goods in specialized stores; GD Poland Investment Sp. z o.o. - Wólka Kosowska Victory Technology Polska Sp. z o.o. - Gorzów Wielkopolski TPV Displays Polska Sp. z o.o. - Gorzów Wielkopolski Pliva R&D Center - Kraków; PLIVA Kraków Zakłady Farmaceutyczne S.A. - Kraków Podravka Polska Sp. z o.o. ; ASBIS PL Sp. z o.o. 11

12 99. Ballinger Holdings Ltd BEECH TREE INVESTMENTS LIMITED 101. DELOITTE CENTRAL EUROPE HOLDINGS LIMITED 102. Kronospan Holdings Ltd. of Cyprus Cyprus Cyprus Cyprus Transport, storage and Cyprus Cyprus Real estate, renting Cyprus Austria wood and wooden wood and wooden intermediation, except insurance and pension funding; Activities of other transport agencies; Legal, accounting, book-keeping and auditing tax consultancy; market research and public opinion polling; business and management consultancy; holdings; Sawmilling and planing of wood; impregnation of wood; Manufacture of veneer sheets; manufacture of plywood, laminboard, particle board, fibre board and other panels and boards; Ballinger Capital Sp. z o.o. Cargoforte Sp. z o.o. Deloitte Doradztwo Podatkowe Sp. z o.o ; Deloitte Audyt Sp. z o.o ; Deloitte Advisory Sp. z o.o. (Capital group) - WARSZAWA Polspan Sp. z o.o. - Szczecinek; Malta Trading Sp. z o.o. - Poznań; Malta Decor S.A. - Poznań; Kronospan Szczecinek Sp.z o.o. - Szczecinek; Kronospan Mielec Sp. z o.o. - Mielec; Kronoplus Sp. z o.o. ; Kronoflooring Mielec Sp. z o.o. - Mielec; HPL - Pustków Sp. z o.o - Pustków; Kronochem Sp. z o.o. - Szczecinek; HPL Pustków Sp. z o.o. - Pustków 103. Rexon Overseas Cyprus Cyprus Monetary Invest-Bank S.A TOLLERTON INVESTMENTS LTD. Cyprus Cyprus Transport, storage and Telecommunications; P4 Sp. z o.o TriGránit Holding Ltd Glaverbel Czech a.s Interkontakt Group A.S. Cyprus Hungary Construction; Construction; TriGránit DEVELOPMENT POLSKA Sp. z o.o. ; Nowe Centrum Sp. z o.o. - Katowice Czech Republic Czech Republic Czech Republic 108. Kofola a.s. Czech Republic 109. Vitkovice Cylinders Czech Republic Czech Republic Czech Republic Czech Republic Czech Republic other food, metals and metal Denmark 110. A.Espersen A/S Denmark Denmark food, 111. A/S Roulunds Fabriker 112. ARLA FOODS AmbA 113. Bank DnB NORD A/S Denmark Denmark other Denmark Denmark food, Denmark Norway, Germany 114. Broen A/S Denmark Denmark metals and metal 115. Carlsberg Breweries A/S Denmark Denmark food, glass and glass Wholesale of food, beverages and tobacco; beverages; basic metals; Processing and preserving of fish and fish other non-metallic mineral dairy Monetary other fabricated metal beverages; AGC Warszawa S.A. ; AGC Opatów Sp. z o.o. - ; Glaverbel Kwarcglav Sp. z o.o. - Wrocław; Glaverbel BALTICGLAV Sp. z o.o. - Pruszcz Gdański PRECOM S.A. Kofola Sp. z o.o. - Kutno Milmet S.A. Fabryka Butli Technicznych - Sosnowiec Espersen Polska Sp. z o.o. - Koszalin Fabryka Okładzin Ciernych Fomar Roulunds S.A. Arla Foods Sp. z o.o. - Gościno Bank BISE ; Bank DnB NORD Polska S.A. Broen DZT S.A. - Dzierżoniów Okocim Browar Brzesko Sp. z o.o. - Brzesko; Carlsberg Polska S.A. ; Carlsberg Polska Oddzial Kasztelaan w Sierpcu; Carlsber Polska SA, Oddział Bosman Browar Szczecin - Szczecin 12

13 Rec. Investor name of 116. Carly Gry Denmark Denmark fabrics and textiles; 117. Chr. C. Grene A/S Denmark Denmark 118. Chr. Hansen AS Denmark Denmark 119. Dan Cake A/S Denmark Denmark food, 120. Dan Engineering A.S. Denmark Denmark metals and metal 121. Danfoss A/S Denmark Denmark 122. Danish Brewery Group A/S Denmark Denmark food, 123. Danish Fast Food Denmark Denmark food, 124. Danish Partner A.p.S Dansk Supermarked A/S Denmark Denmark fabrics and textiles; Denmark Denmark 126. Danske Bank A.S. Denmark Denmark 127. DreamLand Denmark Denmark furniture and consumer goods; 128. Dyrup Denmark Denmark chemical 129. Elopak Denmark A.S. Denmark Denmark rubber 130. Elsam A/S Denmark Denmark Electricity, gas and water supply; 131. Foras Holding A/S Denmark Denmark Real estate, renting and business other wearing apparel and accessories; Sale of motor vehicle parts and accessories; Other wholesale; other food basic precious and nonferrous metals; instruments and appliances for measuring, checking, testing, navigating and other purposes, except industrial process control machinery for the production and use of mechanical power, except aircraft, vehicle and cycle engines; beverages; other food other wearing apparel and accessories; Retail sale of food, beverages and tobacco in specialized stores; Other financial furniture; Manufacture of paints, varnishes and similar coatings, printing ink and mastics; plastic Production and distribution of electricity; Real estate activities with own property; IC Company Poland LTD. - Łódź Grene Sp. z o.o. - Bydgoszcz, Leszno, Konin. Christian Hansen Poland Sp. z o.o. - Czosnów Dan Cake Sp. z o.o. - Chrzanów Fenix Metals Sp. z o.o. - Tarnobrzeg Sauer-Danfoss Sp. z o.o.; Danfoss Sp. z o.o. - Grodzisk Mazowiecki Faxe Polska Sp. z o.o. - Poznań Dania Fast Food Sp. z o.o. - Warsaw Danipol Sp. z o.o. - Polkowice Netto Sp. z o.o. - Kobylanka Danske Bank A/S S.A. Oddział w Polsce Hilding Polska Sp. z o.o. - Murowana Goślina Dyrup Sp. z o.o. - Łódź Elopak S.A. - Czosnów Wolin North Sp. z o.o. - Szczecin Foras Managment Poland Sp. z o.o. 13

14 Rec. Investor name of 132. GN Great Nordic Denmark Denmark Transport, storage and 133. Group 4 Falck A/S Denmark Denmark Real estate, renting 134. Hedeselskabet Denmark Denmark Electricity, gas and water supply; 135. House of Prince Denmark A/S Denmark Denmark food, 136. Icopal A/S Denmark Denmark other 137. Investeringsfonden for Ostlandene 138. Investment Fund for Central and Eastern Europe 139. Kongskilde Industries A/S Denmark Denmark food, Denmark Denmark Denmark Denmark 140. LM Glasfiber Denmark Denmark Electricity, gas and water supply; 141. Logstor Ror A/S Denmark Denmark metals and metal 142. Maersk S/A Denmark Denmark Transport, storage and 143. Merrild Cafe Denmark Denmark food, 144. NKT Cables A/S Denmark Denmark 145. Nordea Life Holding A/S Denmark Denmark 146. Nordisk Wavin A/S Denmark 147. Nykredit Realkredit A/S 148. Pagh Morups Bornekonfektion A.p.S. rubber Denmark Denmark Denmark Denmark fabrics and textiles; 149. Polen Invest A/S Denmark Denmark Agriculture, hunting and forestry; food, 150. Rockwool Denmark Denmark other Telecommunications; Investigation and security Steam and hot water supply; tobacco other non-metallic mineral Production, processing and preserving of meat and meat intermediation, except insurance and pension funding; agricultural and forestry machinery; Production and distribution of electricity; tubes; Cargo handling and storage; other food insulated wire and cable; Insurance and pension funding, except compulsory social security; plastic Monetary textiles; Farming of animals; Production, processing and preserving of meat and meat nonrefractory ceramic goods other than for construction purposes; manufacture of refractory ceramic DPTG (Danish Polish Telecommunications Group) Agencja Ochrony Mienia Sekuritas Sp. z o.o. ; Falck Medycyna Sp. z o.o. ; Falck Medycyna Sp. z o.o. - Szczecin; Falck Medycyna Sp. z o.o. ; G4S Security Sp. z o.o. - Białystok; Viamod S.A - Kraków Hedeselskabet Sp. z o.o. Scandinavian Tobacco S.A. - Myślenice Icopal S.A. - Zduńska Wola Prime Food Sp. z o.o. - Przechlewo Value Management Partners Sp z o.o. Kongskilde Polska Sp. z o.o. - Kutno LM Glasfiber Sp. z o.o. - Goleniów Logstor Polska Sp. z o.o. - Elbląg; Logstor Ror Polska Sp. z o.o. - Zabrze Maersk Polska Sp. z o.o. Prima S.A. - Poznań Polinex Sp. z o.o. - Jastków; NKT Cables Warszowice Sp. z o.o. - Warszowice; NKT Cables S.A. - Czechowice-Dziedzice Nordea Polska Towarzystwo Ubezpieczeń na Życie S.A. ; Tryg Polska S.A. Towarzystwo Ubezpieczeń Agencja Ubezpieczeniowa Jar - Insurance - Jarosław; Nordea Powszechne Towarzystwo Emerytalne S.A. ; NL Towarzystwo Ubezpieczeń na Życie S.A. Wavin Metalplast - Buk Sp. z o.o. - Buk; Ekoplastik-Polska Sp. z o.o. - Opole Nykredit Realkredit A/S S.A. Oddział w Polsce PMB Sp. z o.o. - Piła Prime Food Sp. z o.o. - Przechlewo; Poldanor S.A. - PRZECHLEWO Rockwool Polska Sp. z o.o. - Cigacice; Rockwool Małkinia Sp. z o.o. - Małkinia 14

15 151. Scanpol International A.p.S Schulstad Brod A/S 153. Shiptrans Holding A/S 154. Sonion Microtronic A/S of Denmark Denmark Hotels and restaurants; Hotels; Hotel New Skanpol Sp. z o.o. - Kołobrzeg Denmark Denmark food, Denmark Denmark furniture and consumer goods; Denmark Denmark 155. Statoil Denmark Norway 156. TAEPPELAND HOLDING A/S 157. TDC Mobile International A/S Denmark Denmark Denmark Denmark Transport, storage and other food furniture; Manufacture of medical and surgical equipment and orthopaedic appliances; Retail sale of automotive fuel; Retail sale in nonspecialized stores; Telecommunications; 158. TK Holding Denmark Denmark Construction; Building of complete constructions or parts thereof; civil engineering; 159. Trepko A/S Denmark Denmark 160. Unicon A/S Denmark Denmark other 161. Unicon AS Denmark Denmark other 162. Velux A/S Denmark Denmark rubber 163. YellowTel A/S Denmark Denmark Real estate, renting and business Finland 164. BLStream Finland Finland Real estate, renting and business 165. Consolis Oy Ab Finland Finland other 166. ENSTO SEKKO OY 167. Fortum Power and Heat OY 168. Huhtamaki Van Leer Finland Finland Finland Finland Electricity, gas and water supply; Finland Finland rubber 169. Itella Information Finland Sweden pulp 170. KWH Group Ltd. Finland Finland rubber other general purpose machinery; articles of concrete, plaster and cement; articles of concrete, plaster and cement; Manufacture of rubber and plastic Data processing; Software consultancy and supply; articles of concrete, plaster and cement; electrical equipment n.e.c.; Steam and hot water supply; plastic Printing and service activities related to printing; plastic Lantmännen Axa Poland Sp. z o.o. - Poznań Scanwood Sp. z o.o. - Szczecin; Sonion Polska Sp. z o.o. - Szczecin Statoil Poland Sp. z o.o. Sklepy Comfort S.A. - Szczecin Polkomtel S.A. TK Polska Operations S.A. Trepko Sp. z o.o. - Gniezno Ekol-Unicon Sp. z o.o. - Gdańsk; Unicon Sp. z o.o. Unicon Beton Sp. z o.o. Velux Polska Sp. z o.o. ; NB Polska Sp. z o.o. - Gniezno YellowTel Polska Sp. z o.o. BLStream Sp. z o.o. - Szczecin Consolis Polska Sp. z o.o. - Gorzkowice Ensto Aspol Sp. z o.o. - Straszyn Fortum Wrocław S.A. - Wrocław; Fortum Płock Sp. z o.o. - Płock; Fortum DZT S.A. - Wałbrzych; Fortum Częstochowa S.A. - Częstochowa Huhtamaki Polska Sp. z o.o. - Siemianowice Śląskie ITELLA INFORMATION Sp. z o.o. KWH Pipe Poland Sp. z.o.o 15

16 171. Lannen Tehtaat OY of Finland Finland food, 172. Martela OYJ Finland Finland 173. Metsa Tissue OYJ Finland Finland pulp 174. Neste Oil Oyj FInland Finland 175. Nordic Environment Finance Corporation (NEFCO) Finland Finland pulp food, Processing and preserving of fruit and vegetables; Other retail sale of new goods in specialized stores; articles of paper and paperboard; Wholesale of non-agricultural intermediate products, waste and scrap; articles of paper and paperboard; Production, processing and preserving of meat and meat Masfrost Sp. z o.o. - Tolkmicko Martela Design Center Sp. z o.o. Metsa Tissue S.A. - Konstancin Jeziorna; Neste Polska Sp z o.o. Stora Enso Poland S.A. - Ostrołęka; Prime Food Sp. z o.o. - Przechlewo; Foster Wheeler Energia Polska Sp. z o.o. - Sosnowiec 176. NORDKALK Finland Finland Mining and quarrying; Quarrying of stone; Nordkalk Sp. z o.o. - Kraków GROUP 177. ORAS OY Finland Finland metals and metal Casting of metals; Oras Olesno Sp. z o.o. - Olesno 178. Paroc Group Finland Finland other 179. Raisio Group Finland Finland food, 180. Ruukki OY Finland Finland metals and metal 181. Sampo Finland Finland 182. Sanitec Ltd. OY Finland Finland other 183. Stora Enso Oyj Finland Finland pulp pulp 184. Suomi Mutual Life Assurance Company Finland Finland 185. UPM Raflatac OY Finland Finland pulp 186. WERNER SODERSTROM OSAKEYHTIO OY Finland Finland Real estate, renting France 187. Accor S.A. France France Hotels and restaurants; other non-metallic mineral vegetable and animal oils and fats; structural metal Insurance and pension funding, except compulsory social security; nonrefractory ceramic goods other than for construction purposes; manufacture of refractory ceramic pulp, paper and paperboard; articles of paper and paperboard; Insurance and pension funding, except compulsory social security; Printing and service activities related to printing; Miscellaneous business activities n.e.c.; Hotels; Paroc Polska Sp. z o.o. - Trzemeszno Raisio Polska Foods Sp. z o.o. - Karczew Ruukki Polska Sp. z o.o. - Żyrardów; Ruukki Polska Sp. z o.o. - Oborniki; Ruukki Polska Sp. z o.o. - Wrocław Sampo Towarzystwo Ubezpieczeń S.A., Scanaqua Sp. z o.o. - Ozorków; Sanitec Koło Sp. z o.o. - Koło; Laminex Group S.C. - Kielce Stora Enso Recycling Sp. z o.o. ; Stora Enso Poland S.A. - Ostrołęka; Scantrans Sp. z o.o. - ; Kemira Cell Sp. z.o.o. - Ostrołęka FinLife S.A. Towarzystwo Ubezpieczeń na Życie UPM RAFLATAC Sp. z o.o. - Kobierzyce Young Digital Planet S.A. - Gdańsk Orbis S.A. 16

17 Rec. Investor name of 188. AGF France France 189. Air Liquide S.A. France France chemical 190. Alcatel France France 191. Alstom Holdings France France Manufacture of machinery and rubber metals and metal metals and metal metals and metal 192. ALTRAD S.A. France France metals and metal 193. Arval PHH France France Real estate, renting 194. Atofina S.A. France France chemical 195. Atos Origin France France Real estate, renting 196. Auchan S.A. France France 197. Aventis S.A. France International 198. Barry Callebaut France S.A. France Switzerland food, Insurance and pension funding, except compulsory social security; basic chemicals; television and radio transmitters and apparatus for line telephony and line telegraphy; machinery for the production and use of mechanical power, except aircraft, vehicle and cycle engines; railway and tramway locomotives and rolling stock; Manufacture of plastic tubes; Manufacture of steam generators, except central heating hot water boilers; Treatment and coating of metals; general mechanical engineering; structural metal Renting of other basic chemicals; Miscellaneous business activities n.e.c.; Retail sale in nonspecialized stores; Wholesale of other food 199. BEG S.A. France France Construction; Building of complete constructions or parts thereof; civil engineering; 200. Belvedere S.A. France France food, 201. Bergerat Monnoyeur SAS France France beverages; Wholesale trade and commission trade, except of motorcycles; AGF Ubezpieczenia na Życie S.A. - Poznań Air Liquide Polska Sp. z o.o. - Kraków; Alkat Sp. z o.o. - Dąbrowa Górnicza; Alpol Sp. z o.o. - Alcatel-Lucent Polska S.A. Alstom Polska Sp. z o.o. ; Alstom Konstal S.A. - Chorzów Baumann - Mostostal Montaż Sp. z o.o. ; Altrad-Mostostal Sp. z o.o. Arval Service Lease Polska Sp. z o.o. Atofina Polska Sp. z o.o. Atos Origin IT Services Sp. z o.o. Leroy-Merlin Sp. z o.o. ; Elea Polska Sp. z o.o. ; Auchan Polska Sp. z o.o. Hipermarket - Piaseczno Sanofi - Aventis Sp. z o.o. Barry Callebaut Sp. z o.o. - Łódź Cefic Polska Sp. z o.o. Destylernia Polmos w Krakowie S.A. - Kraków; Destylarnia Sobieski S.A. - Starogard Gdański Bergerat Monnoyeur Sp. z o.o. - Łomianki 17

18 Rec. Investor name of 202. BIC CLICHY France France furniture and consumer goods; 203. Biofarma France France chemical 204. BNP Paribas France France 205. Bongrain France France food, Miscellaneous manufacturing n.e.c.; pharmaceuticals, medicinal chemicals and botanical Monetary dairy 206. Bouygues France France Construction; Building of complete constructions or parts thereof; civil engineering; 207. BSN Gervais Danone 208. BULL INTERNA- TIONAL SA 209. Bunge Investment France 210. C.E.M.O.M. - MOATTI 211. Caisse Centrale de Credit Cooperatif 212. Calyon Global Banking S.A. France France food, France France Real estate, renting France France food, France France metals and metal France France France France 213. Canal Plus Group France France Other community, social and personal service 214. Capgemini S.A. France France Real estate, renting 215. Cardif S.A. France France 216. Carrefour France France 217. Casino France France 218. Cegedim Dendrite Group France France Real estate, renting 219. Cetelem S.A. France France 220. CF Gomma Barre Thomas France France rubber other food Other computer related vegetable and animal oils and fats; cutlery, tools and general hardware; Monetary Monetary Radio and television Legal, accounting, book-keeping and auditing tax consultancy; market research and public opinion polling; business and management consultancy; holdings; Insurance and pension funding, except compulsory social security; Retail sale in nonspecialized stores; Retail sale in nonspecialized stores; Miscellaneous business activities n.e.c.; Other financial rubber BIC Polska Sp. z o.o. Servier Polska Sp. z o.o. ; Anpharm Przedsiębiorstwo Farmaceutyczne S.A. BNP Paribas S.A. Oddział w Polsce ; BNP Paribas Lease Group Sp. z o.o. Mleczarnia Turek - Turek Bouygues Polska S.A. Danone Polska Sp. z o.o. ; Bakoma S.A. ; Zorina Sp. z o.o. - Kutno AMG NET S.A. - Łódź Zakłady Tłuszczowe Kruszwica S.A. - Kruszwica Hachette Livre Bank Inicjatyw Społeczno - Ekonomicznych S.A. Calyon bank Oddział Polska S.A. Canal Plus Cyfrowy Sp. z o.o. Capgemini Polska Sp. z o.o. ; Capgemini Polska BPO Center (division) - Kraków Towarzystwo Ubezpieczeń na Życie CARDIF Polska S.A. ; Pocztylion-Arka Powszechne Towarzystwo Emerytalne S.A. ; Cardif Polska S.A. Carrefour Polska Sp. z o.o. Geant Polska Sp. z o.o. CEGEDIM POLAND Sp. z o.o. Cetelem Polska Expansion S.A. ; Cetelem Bank S.A. CF Gomma Polska Sp. z o.o. - Częstochowa 18

19 Rec. Investor name of 221. Chantelle S.A. France France fabrics and textiles; 222. Clement France France Transport, storage and other wearing apparel and accessories; Cargo handling and storage; 223. Colas S.A. France France Construction; Building of complete constructions or parts thereof; civil engineering; 224. Conforama Holding France France Other retail sale of new goods in specialized stores; 225. Coplan S.A.R.L. France France Construction; Building of complete constructions or parts thereof; civil engineering; 226. Credit Agricole France France 227. Creuzet Aeronautique S.A Dalkia Termika S.A. France France France France Electricity, gas and water supply; Electricity, gas and water supply; 229. Decathlon S.A. France France 230. Docks de France France France 231. E. Leclerc France France 232. Eiffage Construction 233. Electricite de France Internationale (EDF) 234. Essilor International Monetary Other financial electrical equipment n.e.c.; gas; distribution of gaseous fuels through mains; Steam and hot water supply; Other retail sale of new goods in specialized stores; Retail sale in nonspecialized stores; Retail sale in nonspecialized stores; France France Construction; Building of complete constructions or parts thereof; civil engineering; France France Electricity, gas and water supply; Electricity, gas and water supply; France France other 235. Eurodec Industries France France metals and metal Steam and hot water supply; Production and distribution of electricity; glass and glass Forging, pressing, stamping and roll forming of metal; powder metallurgy; Starfam Sp. z o.o. - Starachowice Clement Polska Sp. z o.o. - Łódź Colas Polska Sp. z o.o. - Palędzie; Colas Kruszywa Sp. z o.o. - Palędzie Conforama Polska Sp. z o.o. Coplan Polska Sp. z o.o. LUKAS SA - Grupa Kapitałowa - Wrocław; Europejski Fundusz Leasingowy S.A. - Wrocław Creuzet Polska Sp. z o.o. - Sędziszów Małopolski Zielonogórska Energetyka Cieplna Sp. z o.o. - Zielona Góra; Dalkia Sopot Sp. z o.o. - Sopot; Dalkia Poznań Zespół Elektrociepłowni - Poznań; Dalkia Polska S.A. ; Dalkia Facility Management Sp. z o.o. Decathlon Sp. z o.o. PHU Robert Sp. z o.o. E.Leclerc Polska Galec Sp. z o.o. Eissage Mitex S.A. Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. - Wrocław; Toruńska Energetyka Cergia S.A. - Toruń; Fenice Poland Sp. z o.o. - Bielsko-Biała; Elektrociepłownie Wybrzeże S.A. - Gdańsk; Elektrociepłownia Kraków S.A. - Kraków; EDF Polska Sp. z o.o. ; Elektrownia Rybnik S.A. - Rybnik Essilor Polonia Sp. z o.o. ; Essilor Optical Laboratory Polska Sp. z o.o. Poldec Sp. z o.o. - Radom 19

20 236. Eurovia International 237. Faure Machet (FM) Logistic S.A Faurecia Investments of France France France France Transport, storage and France France 239. Feu Vert S.A. France France 240. France Telecom France France Transport, storage and 241. GEMPLUS S.A. France France 242. Go Sport France France 243. Groupe Coplan S.A HACHETTE LIVRE S.A. intermediation, except insurance and pension funding; Other land transport; parts Sale of motor vehicles; Telecommunications; electronic valves and tubes and other electronic components; Other retail sale of new goods in specialized stores; France France Construction; Building of complete constructions or parts thereof; civil engineering; France France pulp 245. Hamelin Group France France furniture and consumer goods; 246. Havas Advertising International France France Real estate, renting 247. Hutchinson S.A. France France rubber 248. Inergy Automotive Systems France France rubber 249. Intermarche France France 250. International Ducatel Development France France fabrics and textiles; 251. Klepierre S.A. France France Real estate, renting Publishing; Miscellaneous manufacturing n.e.c.; Advertising; rubber rubber Retail sale of food, beverages and tobacco in specialized stores; Retail sale of pharmaceutical and medical goods, cosmetic and toilet articles; Textile weaving; Real estate activities with own property; Eurovia Polska S.A. - Bielsko-Biała Silesia Sp. z o.o. - Gliwice; FM Polska Sp. z o.o. - Mszczonów; FM Mazovia Sp. z o.o. - Tomaszów Mazowiecki; Faurecia Wałbrzych Sp. z o.o. - Wałbrzych; Faurecia Fotele Samochodowe Sp. z o.o. - Grójec Feu Vert Polska Sp. z o.o. Telekomunikacja Polska S.A. ; Telekomunikacja Polska S.A. Centrum Badawczo-Rozwojowe ; Sofrecom Warszawa ; PTK Centertel Sp. z o.o. ; France Telecom Polska ; Equant Communications Poland Sp. z o.o. Gemplus Sp. z o.o. ; Gemalto Sp. z o.o. - Tczew Go Sport Polska Sp. z o.o. Coplan Polska Sp. z o.o. Hubert Burda Media ; Hachette Livre Polska Sp. z o.o. - WARSZAWA Bantex Poland Sp. z o.o. - Błonie Euro Rscg Warszawa Sp. z o.o. Hutchinson Poland Sp. z o.o. - Żywiec Inergy Automotive Systems Poland Sp. z o.o. - Lublin ITM Polska Sp. z o.o. - Poznań Poltex W - Łódź Sadyba Centre S.A. ; Ruda Śląska Plaza Sp. z o.o. - Ruda Śląska; Klepier Galeria Poznań Sp. z o.o. - Poznań; SeGeCe Polska Sp. z o.o ; Klepierre Galeria Kraków Sp. z o.o. - Kraków; Klepierre Poznań Sp. z o.o. ; Klepierre Kraków Sp. z o.o. 20

21 Rec. Investor name of 252. L.D.C. S.A. France France food, 253. La Fourmi France France Manufacture of leather and leather 254. LACTALIS France France food, 255. Lafarge France France other other 256. Lesaffre Group France France food, 257. L Oreal S.A. France France chemical 258. LOUVRE HOTELS SAS Production, processing and preserving of meat and meat footwear; dairy articles of concrete, plaster and cement; cement, lime and plaster; other food soap and detergents, cleaning and polishing preparations, perfumes and toilet preparations; Drosed S.A. - Siedlce La Fourmi Polska Sp. z o.o. - Skierniewice Polser Sp. z o.o. - Siemiatycze; Lactalis Polska Sp. z o.o. Lafarge Kruszywa Sp. z o.o. ; Lafarge Gips Sp. z o.o. ; Lafarge Cement Polska S.A. ; Lafarge Beton Sp. z o.o. ; Lafarge Cement S.A. - Małogoszcz; Lafarge Cement S.A. Cementownia Kujawy - ; Moniere Sp. z o.o. - Opole Lesaffre Polska S.A. - Wołczyn; Advanced Biotechnologies Corporation Sp. z o.o. ; Pomorska Fabryka Drożdży Polmos S.A. - Tczew Kosmepol L Oreal Sp. z o.o.; L Oreal Polska Sp. z o.o. - Kanie France France Hotels and restaurants; Hotels and restaurants; Hotele G.E. Polska Sp. z o.o., Kraków, Katowice, Szczecin, WrocBaw, Poznań and Lublin 259. M2P Group S.A. France France 260. MacoPharma France France 261. Malteries Soufflet S.A. France France food, 262. Michel Marbot France France food, 263. Onduline S.A. France France rubber 264. OTOR France France pulp 265. Pernod Ricard S.A. France France food, Manufacture of food, drinks and tobacco 266. Peugeot France France 267. Plastiques Du Val de Loire 268. Publicis Groupe S.A. France France rubber France France Real estate, renting electric motors, generators and transformers; Manufacture of medical and surgical equipment and orthopaedic appliances; beverages; other food plastic pulp, paper and paperboard; Processing and preserving of fruit and vegetables; beverages; parts rubber and plastic Advertising; Mikroma S.A. - Września Maco Pharma Polonia Sp. z o.o. - Wrocław Słodownia Soufflet Polska Sp. z o.o. - Poznań DANUTA S.A. - Malbork, Wrocław Onduline Production Sp. z o.o. - Mielec Tektura Opakowania Papier S.A. - Tychy; Śląskie Zakłady Papiernicze SILESIANPAP Wyborowa S.A. - Poznań; Agros Holding S.A. Peugeot Polska Sp. z o.o. Fabryka Plastików Pomerania Sp. z o.o.; Fabryka Plastików Kwidzyn Sp. z o.o. - Oddział w Kętrzynie; Fabryka Plastików Gliwice Sp. z o.o. - Gliwice Rowland Communications Sp. z o.o. ; Publicis Sp. z o.o. ; Leo Burnett Sp. z o.o. ; G7 Sp. z o.o. 21

22 Rec. Investor name of 269. Regis Rouselle France France 270. Saint Louis Sucre International S.A.S. France France food, 271. Saint-Gobain France France other other other 272. Sanofi-Synthelabo S.A. France France chemical 273. SaurInternational France France Other community, social and personal service 274. Schneider Electric France France 275. Seita France France food, 276. Sical S.A. France France pulp 277. Societe General Consumer Finance 278. Societe Generale S.A Societe Nationale D France France France France France France Electricity, gas and water supply; Other retail sale of new goods in specialized stores; other food other non-metallic mineral Manufacture of glass and glass Manufacture of other non-metallic mineral pharmaceuticals, medicinal chemicals and botanical Sewage and refuse disposal, sanitation and similar electricity distribution and control apparatus; tobacco articles of paper and paperboard; Monetary Monetary Steam and hot water supply; ELEKTROLAND Przedsiębiorstwo Wielobranżowe - Lublin; Brabork Sp. z o.o. Śląska Spółka Cukrowa S.A. - Wrocław Tadmar; SAINT-GOBAIN CONSTRUCTION PRODUCTS POLSKA; Maxit; Saint-Gobain Weber Terranova Sp.z o.o. - Gdynia; Saint-Gobain Velimat Polska Sp. z o.o; Saint-Gobain Sekurit Hanglas Polska - Dąbrowa Górnicza; Saint-Gobain Isover Polska - Gliwice; Saint-Gobain Glass Polska - Dąbrowa Górnicza; Saint-Gobain Euroveder - Żary; Saint-Gobain Dystrybucja Budowlana Sp. z o.o.; Saint-Gobain Autover Polska Sp. z o.o. - Łódź; Saint-Gobain Abrasives Sp. z o.o. - Koło; Pum Polska ; Okfens Sp. z o.o. - Czeladź; Glaspol Sp. z o.o.; Glaspol - Namysłów; Euroverlux Sp. z o.o.; Ecophon Saint - Gobain Sp. z o.o.; Compagnie de Saint- Gobain Sanofi-aventis Sp. z o.o. Saur Neptun Gdańsk S.A. - Gdańsk Schneider Electric Polska Sp. z o.o ; Schneider Electric Industries Polska Sp. z o.o. Altadis Polska S.A. - Radom Rawibox S.A. - Rawicz Euro Bank S.A. - Wrocław Societe Generale S.A. Elektrociepłownia Białystok S.A. - Białystok 280. Sodexho Alliance France France Hotels and restaurants; Canteens and catering; Sodexho Polska Sp. z o.o Telediffusion de France International (TDF) France France Transport, storage and Telecommunications; Polskie Sieci Nadawcze Sp. z o.o Thomson Tubes and Displays S.A Total Fina ElF S.A Technologies Holding S.A. France India France France France USA television and radio receivers, sound or video recording or reproducing apparatus and associated goods; Retail sale of automotive fuel; aircraft and spacecraft; Thomson Multimedia Polska Sp. z o.o. - Piaseczno Total Polska Sp. z o.o. Wytwórnia Sprzętu Komunikacyjnego PZL Rzeszów S.A. - Rzeszów 22

23 285. VALIN PARTICI- PATIONS of France France 286. Vetoquinol France France chemical 287. VINCI Construction aircraft and spacecraft; pharmaceuticals, medicinal chemicals and botanical France France Construction; Building of complete constructions or parts thereof; civil engineering; 288. Vivendi Universal France France Transport, storage and Real estate, renting 289. Aareal Bank AG Germany Germany 290. Actaris Measurement Systems 291. Actebis Holding Germany Germany Germany Germany Germany 292. Adidas AG Germany Germany 293. ADO Gardinenwerke & Co.KG Germany Germany fabrics and textiles; 294. Adrenatio Germany Germany rubber 295. Aesculap AG Germany Germany 296. Ahlers AG Germany Germany fabrics and textiles; 297. ALBA International Germany Germany Other community, social and personal service 298. Albert Schomburg Germany Germany 299. Aligator Ventil Germany Germany rubber Telecommunications; Legal, accounting, book-keeping and auditing tax consultancy; market research and public opinion polling; business and management consultancy; holdings; Sale of motor vehicles; Activities auxiliary to financial intermediation, except insurance and pension funding; Wholesale trade and commission trade, except of motorcycles; Wholesale trade and commission trade, except of motorcycles; Other retail sale of new goods in specialized stores; madeup textile articles, except apparel; plastic Manufacture of medical and surgical equipment and orthopaedic appliances; other wearing apparel and accessories; Sewage and refuse disposal, sanitation and similar Wholesale of non-agricultural intermediate products, waste and scrap; rubber Snecma Polska Sp. z o.o. - Sędziszów Małopolski Vetoquinol BIOWET Sp. z o.o. - Gorzów Wlpk Warbud S.A. Elektrim S.A. ; Carcom Warszawa Sp. z o.o. Aareal Service Polska Sp. z o.o. Actaris Polska Sp. z o.o. - Kraków ABC Data Sp. z o.o. PMPOLAND S.A. - Jelenia Góra; Adidas Poland Sp. z o.o. ADO Sp. z o.o. - Legnica B.I.P. Byars Industries Poland Sp. z o.o. Aesculap Chifa Sp. z o.o. - Nowy Tomyśl Mewa Textil-Service Sp. z o.o. - Sosnowiec; Romeo Sp. z o.o.; Polimex P. W. - Łódź; Ahlers Poland Sp. z o.o. - Opole Alba Przedsiębiorstwo Techniki Sanitarnej Sp. z o.o. - Zduńska Wola; ALBA Dolny Śląsk Sp. z o.o. - Wałbrzych; ALBA Przedsiębiorstwo Gospodarki Komunalnej Czeladź Sp. z o.o. - Czeladź Schomburg Polska Sp. z o.o. - Kutno Stomil Sp. z o.o. - Środa Wlkp. 23

24 300. Al-KO KOBER AG of Germany Germany 301. Allianz AG Germany Germany 302. Altana Pharma AG 303. Alte Leipziger Europa AG 304. Altrad-Baumann Germany Germany chemical Germany Germany Germany Germany metals and metal 305. Apcon Germany Germany Real estate, renting 306. APCON INTER- NATIONAL BUSINESS SYS- TEMS GESELL- SCHAFT FUER DV BERTAUNG MBH Germany Germany Real estate, renting 307. Argillon Germany Germany other 308. Arnold Dammers Germany Germany wood and wooden 309. Assman Germany Germany furniture and consumer goods; 310. ATS Stahlschmidt & Maiworm Germany Germany 311. Avag Holding AG Germany Germany 312. Axel Springer AG Germany Germany pulp 313. Bahlsen Germany Germany food, 314. Ball Packaging Europe Germany USA metals and metal 315. BASF AG Germany Germany chemical parts Insurance and pension funding, except compulsory social security; pharmaceuticals, medicinal chemicals and botanical Insurance and pension funding, except compulsory social security; structural metal Computer and related Maintenance and repair of office, accounting and computing machinery; nonrefractory ceramic goods other than for construction purposes; manufacture of refractory ceramic Sawmilling and planing of wood; impregnation of wood; furniture; parts Sale of motor vehicles; Publishing; other food other fabricated metal pharmaceuticals, medicinal chemicals and botanical AL-KO KOBER Sp. z o.o. - Przeźmierowo TU Allianz Polska S.A. ; Towarzystwo Ubezpieczeniowe Allianz Życie Polska S.A. Necomed Sp. z o.o. ; Decomed Sp. z o.o. Sopockie Towarzystwo Ubezpieczeń Ergo Hestia S.A. - Sopot Rusztowania Baumann Mostostal Sp. z o.o. - Siedlce; Prymat Sp. z o.o. - Jastrzębie-Zdrój; Altrad-Mostostal Sp. z o.o.; ALTRAD-Pomorze Sp. z o.o. - Szczecin; Baumann - Mostostal Montaż Sp. z o.o. - Warszawa Itelligence Sp. z o.o. - Tarnowo Podgórne ITELLIGENCE Sp. z o.o. Argillon Polska Sp. z o.o. - Jedlina Zdrój HDM Sp. z o.o. - Ruszów Assmann Ladenbau Polska Sp. z o.o. ATS Stahlschmidt & Maiworm Sp. z o.o. - Stalowa Wola Avag Investments Sp. z o.o. - Warsaw; Auto Żoliborz ; Auto Praga ; Axel Springer Polska Sp. z o.o. The Lorenz Bahlsen Snack - World Sp. z o.o. - Sady; Bahlsen Sweet Sp. z o.o. - Skawina; Bahlsen Sp. z o.o. - Skawina Ball Packaging Europe Radomsko Sp. z o.o. Basf Polska Sp. z o.o., production facility in Kutno 24