Echo Investment S.A.

Business and Financial Review • Nov 6, 2017

Selected operational data from Issuer'sresidential segment

The Management Board of Echo Investment S.A. (‘theCompany') hereby reports that due to an increase of the share of theresidential segment in the results of the Company's Capital Group, theymade a decision to publish monthly reports concerning the sales anddeliveries of apartments starting from October 2017 data.

Taking into consideration the above, the Issuer'sManagement Board reports that:

--in October 2017 the Issuer and Issuer'ssubsidiaries sold148apartments on the basis of preliminary agreements;

--the Issuer and Issuer's subsidiarieshave cumulatively sold1045apartments on the basis of preliminary agreements since the beginning of2017;

--in October 2017 the Issuer andIssuer's subsidiaries concluded310final agreements transferring ownership of apartments to clients;

--the Issuer and Issuer's subsidiarieshave cumulatively concluded706final agreements transferring ownership of apartments to clients sincethe beginning of 2017.

Legal basis: Art. 17 section 1 MAR - confidentialinformation