Investor Reports

Pursuant to &5 sec. 1 point 1 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange ComArch S.A.\'s Management Board announces that on 3 December 2007 an agreement on INTERIA.PL S.A. ownership transfer between ComArch S.A. with its registered seat in Krakow and COMARCH Management spólka z ograniczona odpowiedzialnoscia spólka komandytowo - akcyjna with its registered seat in Krakow was concluded.

Pursuant to &5 sec. 1 point 3 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange (Dz. U. Nr 209, poz. 1744) ComArch S.A.\'s Management Board announces that on 3 December 2007, ComArch S.A., COMARCH MANAGEMENT Spólka z ograniczona odpowiedzialnoscia \" Spólka Komandytowo-Akcyjna (Ltd Joint Stock Partnership) and \"COMARCH CORPORATE FINANCE\" Closed Investment Fund concluded a contract with BAUER MEDIA INVEST\" GmbH with its registered seat in Hamburg, Burchardstrasse 11.

Pursuant to &5 sec. 1 point 1 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange ComArch S.A.\'s Management Board announces that on 30 November 2007 ComArch S.A. sold 900,000 shares of ComArch Management Spólka z ograniczona odpowiedzialnoscia Spólka Komandytowo-Akcyjna (limited partnership and joint-stock company) with its registered seat in Krakow to ComArch Corporate Finance Closed Investment Fund with its registered seat in Krakow.

Pursuant to &5 sec. 1 point 1 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange ComArch S.A.\'s Management Board announces that on 21 November 2007 limited partnership and joint-stock company was registered under the company name of ComArch Management Spólka z ograniczona odpowiedzialnoscia Spólka Komandytowo-Akcyjna with its registered seat in Krakow.

ComArch S.A.\'s Management Board announces that ComArch S.A. has made an investment in investment certificates of a closed investment fund FORUM I (hereinafter referred to as the \"Fund\").

Pursuant to Art 5, Act 1, Pt 21 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange, the Management Board of ComArch S.A. informs of the resignation of Mr. Rafal Chwast, Vice-President of ComArch S.A.\'s Management Board from his position.

Pursuant to &5 sec. 1 point 1 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange ComArch S.A.\'s Management Board announces that on 19 October 2007 limited liability company was registered under the company name of ComArch Management Spólka z ograniczona odpowiedzialnoscia with its registered seat in Krakow.

Pursuant to &5 sec. 1 point 1 of the Regulation issued by the Minister of Finance on 19 October 2005 concerning current and periodical information pertaining to companies traded on the stock exchange ComArch S.A.\'s Management Board announces that on 14 September 2007 limited liability company was registered under the company name of ComArch Software S.A.R.L. with its registered seat in Lille, in France.