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Regulatory Filings • Jan 20, 2011

Press release

January 20, 2011

First crane at Złota 44

On January 18, the building site of an exclusive apartment house at Złota 44 saw the arrival of a crane 40 meters high. Two more will come on February. It is another stage in development of investment and in performance of works at a pace allowing to finish the building shell for Euro 2012.

The arrival of a 40-meter crane is an undeniable proof of re-launch of works on the development of a luxurious apartment house at Złota 44 in downtown Warsaw. For the next two days the crane will be assembled, so as building works could be carried out in the projected pace starting from next week. The re-launch of works mean that the general contractor took over the building site, which will see the arrival of another two cranes, including the highest one which will gradually grow together with the building to the height of 200 meters. The first week will also see the assembly of formworks and bearing walls of the next floor. This means that the next floor of the famous "Sail" building will emerge in the coming month.

It is a very important day for us. The arrival of the crane at the building site is for our clients, shareholders, investors and inhabitants of Warsaw an undeniable proof of very intensive re-launch of works on Złota 44 apartment house – says Alicja Kościesza, Sales&Marketing Executive at Orco Property Group.

Złota 44 is a luxurious apartment skyscraper located at ul. Złota 44 in Warsaw, constructed by Orco Property Group. The apartment house will be the first model of a new luxurious standard in Poland. Złota 44 will feature an astonishing height of 192 meters. When the construction is finished, the tower will be the third in height high-rise building in Warsaw.