ComArch S.A. Management Board announces that on 10 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 13 June 2007 and 6 July 2007, a person who has access to confidential information about ComArch S.A. sold 10,776 (in words: ten thousand seven hundred seventy-six) ordinary bearer shares of ComArch S.A. for average price of 213.57 PLN (in words: two hundred thirteen and 57/100) each, i.e. 2,301,380.70 PLN (in words: two million three hundred one thousand three hundred eighty and 70/100). The above-mentioned transactions were concluded on regulated market at Warsaw Stock Exchange. Information was prepared on 9 July 2007 in Krakow.