ComArch S.A. Management Board announces that on 27 June 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 25 June 2007 and 26 June 2007, one of ComArch S.A.'s managing persons sold 22.566 (twenty-two thousand five hundred sixty-six) ordinary bearer shares of ComArch S.A. for average price of 209,14 PLN (in words: two hundred nine and 14/100) each. The above-mentioned transactions were concluded on regulated market at Warsaw Stock Exchange. Information was prepared on 27 June 2007 in Krakow.