INTERFAX - Poland news report of 18.07.2008

NEWS

Polish WSE stock exchange acquires 25% of Ukrainian Innex exchange – WSE president (2)

Poland’s average wage rises 12% in June, gross monthly salary approaches EUR 1,000

Poland’s exports bullish despite local currency breaking new records – Central Bank chief

Ukraine, Poland to jointly mark anniversary of war crimes in Volyn region

PRESS: Heads of Polish investment firm Interbrok charged with defrauding investors

STATISTICS

Poland’s producer price index up 2.7% y/y in June as strong currency helps tame price growth

Poland’s industrial output rises 7.2% y/y in June, below expectations

Poland’s HICP inflation index at 4.3% y/y in June – Eurostat

Poland’s C/A deficit at EUR 1.602 bln in May, below market expectations

Poland’s CPI accelerates to 4.6% y/y in June, above market expectations

POLITICS

PRESS: Polish president suspected foreign minister of trying to delay U.S. missile shield deal

PRESS: Ukraine’s "Iron Yulia" mobilizing country to meet Euro 2012 deadlines

Poland’s post-communists negative about Nord Stream gas pipeline project

Poland’s conservative opposition lambastes ex-president Kwasniewski for support of Nord Stream

Poland should get Nord Stream gas from Germany, project should be depoliticized – Kwasniewski

PRESS: Europe facing possible recession – PriceWaterhouseCoopers

PRESS: America may meet Poland halfway on missile base demands - unofficial sources

Poland optimistic about EC decision to delay public aid repayment at financially troubled shipyards

Poland frustrated with Russian opposition to missile shield – Polish foreign minister

Polish PM convinces European Commission to give three more months to save shipyards

Polish president hopes for Ukraine, Georgia joining NATO’s MAP in December

Polish PM criticizes planned U.S. Congress call for property restitution

Poland convinced Ukraine can give UEFA satisfactory Euro 2012 progress report September

Poland reiterates intention to keep Ukraine as co-host of UEFA Euro 2012 – Polish PM

Poland, Ukraine to meet stadium construction deadlines for Euro 2012 – Ukrainian PM

Polish National Stadium project chief refuses to offer resignation amid growing media criticism

Polish, French president agree on "joint plan" for Lisbon Treaty – Polish President Kaczynski

PRESS: Preparations for Euro 2012 lagging in Ukraine, going well in Poland – UEFA spokesperson

PRESS: New proposal could see controversial PLN 500 tax levied on new cars in Poland

PRESS: Polish politicians express shock at death of former Foreign Minister Bronislaw Geremek

COMPANY NEWS

MANUFACTURING

Poland’s car production up 33.6% y/y in H1 2008, tops 550,000 units

TRANSPORTATION

Polish flag air carrier PLL LOT declines to confirm fuel distribution unit Petrolot on sale

Poland’s used-car imports on the rise again, total imports in 2008 seen exceeding one million

METALS

Polish largest copper maker KGHM’s new project in Laos poses benefits, risks - analysts

CHEMICALS

Polish nitrate producer ZA Kedzierzyn may hold 2008 IPO, will shoot to exceed PLN 500 mln

REAL ESTATE

Swedish developer Skanska inks PLN 40 mln Warsaw land sale to Canadian developer

Furniture maker IKEA relaunches EUR 1 bln Polish investments after anti- retail law overturn

Israeli developer GTC acquires 10% stake in CIS developer to develop mixed-use project in Ukraine

Poland’s apartment completions at 67,684 in January-June, up 28.1% y/y

PRESS: Polish law limiting large retail responsible for halting investments worth PLN 4 bln

Polish developer sub-index expected to rebound by 2008 end - analyst

Turn-key residential to become norm in Poland over next three years - developer

PRESS: Polish developer Polnord ready to acquire remaining stake in Spanish Fadesa-Prokom

Polish developers delay residential sales in bid to counter falling prices - analysts

ENERGY NEWS

OIL & PETROCHEMICALS

Polish antimonopoly office UOKiK starts proceeding against top fuel refiner PKN Orlen

Polish pipeline operator PERN unsure of timeline, potential acquisition of logistics firm Siarkopol

PRESS: Polish No. 2 refiner Lotos expects shares value to stabilize late in the year

Polish no.2 refiner Lotos’ Norwegian unit gets closer to receiving oil exploration license in Norway

PRESS: Polish No. 2 refiner Lotos analyzing two oil extraction project investments in Norway

Polish No. 2 refiner Grupa Lotos likely to improve net profit in Q2, operating profit could fall

GAS

Polish gas monopolist PGNiG, copper producer KGHM will negotiate gas supply annex in late July

PRESS: Former Polish president announces support for Nord Stream pipeline

Polish gas monopolist PGNiG to link gas pipeline to copper maker KGHM by end-2011

PRESS: Romanian gas company Romgaz to launch exploration operations in Slovakia, Poland

PRESS: Polish gas monopolist PGNiG to talk with Gazprom on solutions to gas transit tariff dispute

Polish Yamal gas pipeline operator EuRoPol Gaz 2007 net rises 45.2% y/y

COAL

PRESS: Poland will decide in August on strategic changes for the coal sector by 2015

Poland’s largest coal producer Kompania Weglowa to decide on Silesia coal mine in fall ’08

Polish coal miner Bogdanka to decide on power plant construction this year

Polish coal miner LW Bogdanka to release issue prospectus in October

HEAT, POWER & SEWAGE

Polish energy group PGE’s shareholders appoints CEO and two vice presidents

Polish power plant Kozienice signs EUR 39 mln deal with engineering firm Energomontaz-Polnoc

IT & TELECOMMUNICATIONS

LANDLINE/MOBILE TELECOMS

France Telecom’s Polish TP sees several hundred million zlotys in gross profits on real-estate sale

TELECOMS SERVICES

Polish IT services company Grupa Lew plans to expand in Ukraine

BANKING & FINANCE NEWS

CAPITAL MARKETS

Polish WSE stock exchange acquires 25% of Ukrainian Innex exchange – WSE president (3)

Polish WSE stock exchange acquires 25% of Ukrainian Innex exchange – WSE president

EMERGING MARKETS NEWS HIGHLIGHTS

Ukrainian PM claims corruption schemes flourish during Odessa-Brody oil pipeline operation

Russia to approve legal model for Kaliningrad nuclear power plant project by end-July

Ukrainian president’s aide blames Cabinet for alleged foiling Odessa- Brody accords

Italian foreign minister calls for prompt preparation of EU-Russia deal

EU shows interest in Moscow idea to sign new European security treaty – diplomat

No politics involved in reduced crude supplies to Czech Republic – Transneft (Part 2)

Moscow ready to respond to NMD in Europe by steps to neutralize threat – diplomat

FINANCIAL MARKETS

MONEY MARKET

National Bank of Poland official interest rates – 18/07/2008

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