Investor Reports

Management Board of ComArch S.A. reports that accordingly to the list of shareholders participating the Annual General Shareholders Meeting of Comarch S.A. on 22 June 2006, two persons held at least 5 % of the total number of votes represented at this Meeting:

ComArch S.A.\'s Management Board conveys 2005 activities\' report of ComArch S.A.\'s Board of Supervisors including assessment of the company\'s situation in 2005 according to the rule number 18 of the Corporate Governance Principles:

The Management Board of ComArch S.A. reports that on 19 June 2006, the Supervisory Board of ComArch S.A selected Deloitte Audyt Sp. z o. o. to audit and to review the financial statements and the consolidated financial statements of ComArch S.A.

Pursuant to the rule number 2 of the Corporate Governance Principles, ComArch S.A.\'s Management Board reports that

ComArch S.A.\'s Management Board presents the projects (91,4kB) of the resolutions which will be proposed at the AGM on 22 June 2006 with justification for these resolutions.

Pursuant to § 5 Act 1 Pt 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, ComArch S.A.\'s Management Board reports that on 9 June 2006 the Company obtained signed investment credit agreement with Fortis Bank Polska S.A. having its registered seat in Warsaw on financing of the third construction stage of production and office buildings in the Special Economic Zone in Krakow.

Pursuant to art. 395 § 1 and to art. 399 § 1 of the Commercial Companies Code and pursuant to § 14 of the company\'s Statute, the Management Board of ComArch S.A. hereby convenes Annual General Shareholders Meeting of ComArch S.A., to be held at 09:00 o\'clock on June 22nd 2006, at Aleja Jana Pawla II 39A in Krakow, Poland:

Pursuant to Art 5, Act 1, Pt 9 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. informs: