ComArch S.A. Management Board announces that on 23 January 2007, pursuant to art. 160 sec. 1 pt 1 of the Act on Trading in Financial Instruments (Journal of Laws, no. 183, pos. 1538 and changes to this act), according to § 2 sec. 1 of the Regulation issued by the Minister of Finance on 15 November 2005 concerning information on some transactions in financial instruments and principles of preparing and administrating the list of persons who can have some specified confidential information (Journal of Laws, no. 229, pos. 1950), information about disposing of ComArch S.A. shares.

On 17 January 2007, a member of the Board of Supervisors sold 10,000 (in words: ten thousand) ordinary bearer shares of ComArch S.A. for 222 PLN each, i.e. for 2,220,000 (in words: two million two hundred twenty thousand) PLN. The above-mentioned transaction was concluded on regulated market-Warsaw Stock Exchange. Information was prepared on 22 January 2007 in Krakow.