ComArch S.A. Management Board announces that on 5 July 2007, pursuant to art. 160 sec. 1 pt 2 of the Act on Trading in Financial Instruments (Journal of Laws, no. 183, pos. 1538), 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.

Between 28 June 2007 and 5 July 2007, a person who has access to confidential information about ComArch S.A. sold 36,590 (thirty-six thousand five hundred ninety) ordinary bearer shares of ComArch S.A. for average price of 201.927651 PLN (in words: two hundred one and 93/100) each, i.e. 7,388,532 (in words: seven million three hundred eighty-eight thousand five hundred thirty-two) PLN. The above-mentioned transactions were concluded on regulated market at Warsaw Stock Exchange. Information was prepared on 5 July 2007 in Krakow.