NEWS

Poland’s rate setters leave interest rates flat in August, key reference rate at 6%

Polish delinquent debt increases 44% y/y/ to PLN 7.06 bln

STATISTICS

Poland’s GDP growth slightly beats expectations, up 5.8% y/y in Q2

Poland’s retail sales rise 14.3% y/y in July, in line with market expectations

Poland’s official unemployment rate drops to 9.4% in July

POLITICS

Poland to call for humanitarian aid, observational force for Georgia - Polish Prime Minister Tusk

Thousands of Solidarity protestors bring Polish capital to a standstill

Poland to call for humanitarian aid, observational force for Georgia - Polish Prime Minister Tusk

Georgian President Saakashvili thanks Poland for solidarity during crisis

PRESS: Russian policy toward neighbors comparable to Soviet Union policies, say 50% of Poles

PRESS: Poland could lose PLN 4 bln in trade through strained relations with Russia

PRESS: Polish president to use EU summit to convince Germany to withdraw from Nord Stream

PRESS: Polish president, PM may leave for EU summit with rival views on policy toward Russia

Polish President Kaczynski to participate in Georgian EU summit

Polish president objects to Russian recognition of Abkhazian, South Ossetian independence

PRESS: Russia would lose a possible confrontation with West - Polish foreign minister

PRESS: Poland will not ask for sanctions against Russia at upcoming EU summit

PRESS: Polish PM to appeal for single EU policy toward Russia in upcoming summit

PRESS: Polish govt reportedly accuses previous government of withholding info on CIA prisons

PRESS: West warning that Russia’s making "Georgia its own"

COMPANY NEWS

TRANSPORTATION

Polish airline Centralwings suspends low-cost business to focus on charter flights

PRESS: The receiver of SAirLines will not sell Polish airline LOT’s stake without Treasury okay

REAL ESTATE

Polish listed developer Warimpex plans project expansion in Russia

Polish listed developer Warimpex may change EUR 25 mln Warsaw hotel project into office

Polish listed Austrian developer Warimpex posts EUR 3.1 mln H1 ’08 net, down 45% Y/Y

Polish developer P.A. Nova inks PLN 30.9 mln retail outlet deal

Warsaw will not get second metro line in time for 2012 UEFA Soccer Championships

Best time for investors to acquire property will be in H1 ’08 - real estate consultant CEE Property

Polish construction company Budimix Dromex signs PLN 89.9 mln contract

Polish Construction climate slips in August - GUS

Construction company/developer ABM Solid signs EUR 4.5 mln contract for Krakow sewage works

ENERGY NEWS

OIL & PETROCHEMICALS

No signals that Russia will cut oil supplies through Druzhba – Polish pipeline operator PERN

PRESS: Polish oil firm Petrolinvest finds presence of oil and gas in its fields in Kazakhstan

Fitch rating agency advocates improved inventory-related disclosure in European refining, marketing

PRESS: Polish pipelines operator PERN does not rule out shutting down of Druzhba oil pipeline

Polish No. 2 refiner Lotos’ unit signs agreement for 20% stake in oil field license in North Sea

Odessa-Brody oil pipeline could be launched in 2011 if business plan confirms profitability

Polish gas monopolist PGNiG. No.2 oil firm Grupa Lotos joint projects seen as favorable

GAS

Polish gas monopolist PGNiG with little chance for 23% raise of gas price tariff in Q4 2008, analysts

Polish gas monopolist PGNiG to complete sale of its unit Polskie LNG by the end of November

Polish gas monopolist PGNiG intends to intensify active role in oil and gas exploration in Norway

COAL

Polish coal mines may be forced to pay PLN 1 bln in delinquent taxes for underground construction

Poland’s top coal producer Kompania Weglowa posts PLN 20.8 mln net over seven months

PRESS: Poland could buy electric power from Ukraine in exchange for coal

HEAT, POWER & SEWAGE

PRESS: Poland could get 1,000 MW capacity in planned Ignalina nuclear power plant in Lithuania

Polish power firm Power4All begins construction of 30MW wind power plant in northern Poland

Polish power group Enea plans to submit issue prospectus to KNF in September

EMERGING MARKETS NEWS HIGHLIGHTS

Russia urges EU to take objective stance on events in South Ossetia

Vilnius urges EU to prove its significance in resolution of Caucasian crisis

Death toll from conflict in South Ossetia stands at 1,692 – South Ossetian prosecutor

Russia recognizes independence of South Ossetia, Abkhazia

Russian military alarmed by NATO naval build-up in Black Sea – Gen. Staff

Russian Federation Council passes address to president on recognition of S. Ossetia, Abkhazia

FINANCIAL MARKETS

EQUITIES

Poland equity market indices – 29/08/2008

Warsaw Stock Exchange blue-chip WIG20 close – 28/08/2008

Nb: This news report features only the headline of each news.