Issue prospectus valid till 20 March 2008

The Issue Prospectus was prepared in connection with the Public Offering of 1 128 000 Series B ordinary bearer shares of the nominal value of PLN 0.50 each, and admitting and introducing to trading on the WSE market of 3 872 000 series A ordinary bearer shares and till 1 128 000 series B shares and the rights to series B shares of HELIO S.A.

The Issue Prospectus was prepared according to regulations of tha capital market in Poland and was approved by Polish Finacial Supervision Authority on 16 March 2007.

The Issue Prospectus was valid for 12 months from the date of publication. The Issue Prospectus was published on 21 March 2007.

The Public Offering of the shares of the HELIO S.A. company was conducted only in Poland and was not addressed to residents of other countries.