Reports

The Management Board of HELIO S.A. hereby provides information referring to the public offering of series B ordinary bearer shares:
1) The date of commencing and ending the subscription:
The date of commencing the subscription is 28 March 2007.
The date of ending the subscription is 30 March 2007.

2) The date of allotment of the shares: 2 April 2007.

3) The number of shares included in the subscription: 1,128,000 series B ordinary bearer shares.

4) The reduction rate:
– in the Small Investor Tranche: 91.89%
– in the Large Investor Tranche: no reduction due to the fact that the number of submitted subscriptions was equal to the number of shares indicated in the invitations to submit subscriptions intended for the investors participating in the process of book-building for series B shares.

5) The number of the shares for which subscriptions were submitted: 2,812,208

6) The number of securities which were allotted within the subscription carried out: 1,128,000 series B shares

7) The issue price of series B shares: PLN 10.50

8) The number of persons who submitted subscriptions for the shares:
– in the Small Investor Tranche: 247
– in the Large Investor Tranche: 92 (including 2 entities managing block of order securities)

9) The number of persons who were allotted the shares:
– in the Small Investor Tranche: 247
– in the Large Investor Tranche: 92

10) Series B shares were not covered by subissuers (no agreements on subissue were concluded)

11) The value of the subscription carried out: PLN 11,844,000.00

12) Due to the lack of final calculation of the costs of the issue as of the day of the preparation of this report, the amount of the costs was estimated and included in the costs of the issue in accordance with the Issuer’s best knowledge. The Issuer estimates that the total costs of the issue shall amount to PLN 1,495,642.78 including:
a) preparation and carrying out of the offer: PLN 99,199.68
b) remuneration of subissuers – not applicable
c) preparation of the issuing prospectus, considering the advisory costs: PLN 1,248,078.00
d) promotion of the offer: PLN 148,365.10.

Pursuant to art. 36 pt. 2b of the Accounting Act, the costs of increasing capital through an issue of Series B Shares shall decrease the Company’s supplementary capital to the amount of the surplus of the issue value over the nominal value of Series B shares. Other potential costs shall be included in the costs of financing. The final specification of the issue costs shall be provided by the Issuer in the annual report.

13) The average estimated cost of carrying out the subscription per security included in the subscription amounted to: PLN 1.33.