A Change in the composition of the Management Board of Cyfrowy Polsat S.A.

15 May 2009

The Management Board of Cyfrowy Polsat S.A. (the Company) inform that Mr Maciej Gruber, a Member of the Management Board, Chief Financial Officer, after seven years of  employment with Cyfrowy Polsat S.A. has resigned from the his position on the Management Board effective on 14 May 2009. In a meeting dated 14 May 2009, the Supervisory Board accepted the resignation handed in by Maciej Gruber, and appointed Mr Tomasz Szeląg for the position of a Member of the Management Board, Chief Financial Officer.

Mr Tomasz Szeląg is 32 years old. Mr Szeląg graduated from the National Economy Faculty of the Economic Academy of Wrocław, with major in International Economic and Political Relations specializing in Foreign Trade. In 2000-2003 Mr Szeląg was an assistant at his University (Foreign Trade Faculty). In May 2003 Mr Szeląg received PhD title for his thesis on hedging transaction used by world copper producers and went on to become a lecturer in the Faculty of International Economic Relations. Between 2003 and 2004 he also held a position of a lecturer in the Wrocław School of Banking - at the Faculty of International Economic Relations. Parallel to his academic career Mr Szeląg also developed his professional career gaining experience in managerial positions in the area of finance and investment. From 2003, Mr Szeląg was Chief Specialist in the Currency Risk Department of KGHM Polska Miedź SA, and then of the Market Risk and Analysis Department  In September 2004, he become Director of the Department. In December 2004, he become Director of Hedging Department of KGHM and held the function until March 2007. From April 2007 to May 2008 he worked as Director of Brach of Société Générale Bank in Wrocław. In July 2008, Mr Szeląg took the position of Vice-president for Finance in Telefonia Dialog S.A., which he held until March 2009. Mr Szeląg was responsible for finance, accounting, controlling, and budgeting management, and also owner supervision and capital investment, logistics and purchases, project management and IT.

Mr Tomasz Szeląg does not run a business competitive to the business of Cyfrowy Polsat S.A. and is not entered into the Registry of insolvent Debtors held by the Registry Court.

The Management Board and the Supervisory Board would like to take the opportunity to thank Mr Maciej Gruber for his commitment and valuable input into the development of the Company that he contributed during his time with the Company.

Legal grounds § 38 sec. 1 point 7 of the Regulation of the Council of Ministers of 19 February 2009 concerning the submission of current periodical information by the securities' issuers and the conditions of recognizing as equal the information demanded by the national lawful regulation of a country which does not hold the membership in European Union

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Last updated 10/21/2014