Current reports

Termination of agency agreements.

Current report number: 35/2012

Data: 28 September 2012

Polish Financial Supervision Authority
Pl. Powstańców Warszawy 1
00-950 Warszawa

Pursuant to §5 clause 1 item 5) of the Regulation of the Minister of Finance of 19 February 2009 on current and periodical information to be disclosed by security issuers and on conditions of recognition of information required by the laws of a state that is not a member-state (Journal of Laws No. 33 item 259 as amended), the Management Board of TELL S.A. hereby advises that PTK Centertel Sp. z o.o., Orange network operator having its registered office in Warsaw, has terminated the agency agreements between the issuer and PTK, covering the activities undertaken by the issuer at the Orange sales points network and through Corporate Client Advisors.

The above-mentioned terminations constitute an element of the earlier announced procedure for modification of the rules of cooperation with the agent network adopted by PTK, and concern all agents of the Operator.

Before giving the termination notices, the Operator submitted to the issuer a draft of the new ORANGE Agency Agreement, which is to replace the two terminated agreements, and the Management Board of the issuer sent to PTK comments regarding the draft. The Management Board of the issuer does not expect the process of replacing the existing agency agreements with the new agreement to affect the continuity of cooperation between the issuer and the Operator.

As the new ORANGE Agency Agreement is going to replace the existing agreements, the issuer also does not anticipate any, in particular negative, financial effects resulting from the terminations by the Operator.

The termination notices given by PTK shall effectively terminate the agency agreements as of 31 December 2012.

The issuer will notify immediately about the conclusion of the new agency agreement in a separate report.

Legal basis: Art. 56 sec. 1 clause 2) of the Offer Act – current and periodical information

Signed: Rafał Stempniewicz – President of the Management Board