**EBITDA = operational profit (loss) + amortisation. EBITDA is not a measure of operational results or liquidity, in accordance with IFRS.
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America. The materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States of America or to conduct a public offering of securities in the United States of America.
The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This communication shall not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the Securities. This communication is being distributed to and is directed only at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The Securities will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire Securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Copies of this announcement are not being made and may not be distributed or sent into the United States, Canada, Australia or Japan.
In connection with the sale of securities referred to herein, one or more parties named as the stabilising manager(s) (or persons acting on behalf of any stabilising manager(s)) may overallot securities or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. However, there is no assurance that the stabilising manager(s) (or persons acting on behalf of any stabilising manager(s)) will undertake stabilisation action. Any stabilisation action may start on the date of commencement of trading of the securities on the regulated market and end no later than 30 calendar days thereafter. Any stabilisation action or overallotment must be conducted by the relevant stabilising manager(s) (or person(s) acting on behalf of any stabilising manager(s)) in accordance with all applicable laws and rules.
This communication is for promotional purposes only and does not constitute or form the offer or invitation, neither can be the base for a decision to invest in the securities of the Jastrzebska Spólka Weglowa S.A. (the "Company"). The prospectus (the "Prospectus") which will be prepared for the purpose of the offering, admission and introducing to trading of the Company's shares on the Warsaw Stock Exchange is the only legally binding document containing information regarding the Company and the public offering of its shares in the territory of Poland. The Company will be entitled to conduct the public offering in Poland after the approval of the Prospectus by the Polish Financial Supervisory Authority. The Prospectus will be published on the website of the Company - http://www.jsw.pl and on the website of Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna Oddzial - Dom Maklerski PKO Banku Polskiego w Warszawie - http://www.dm.pkobp.pl.
Enquiries:
Citi +44(0)-20-7986-4000
Pawel Graniewski / Tom Attenborough
Goldman Sachs International +44(0)20-7774-1000
Richard Cormack / Philip Lindop
J. P. Morgan
Paul Mihailovitch +44(0)207-325-1419
Jakub Leonkiewicz +48-22-528-66-98
Unicredit +48-22-586-24-52
Tomasz Witczak / Karol Poltorak
Financial Dynamics +44(0)207-269-7279
Ben Brewerton / Christopher Welsh
CONTACT: .
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