10/2011 Appointment of auditor

The Management Board of CELTIC PROPERTY DEVELOPMENT S.A. (hereinafter the Company) informs that on 13 April 2011 the Supervisory Board adopted a resolution on appointment of PricewaterhouseCoopers Sp. z o.o. with the corporate seat in Warsaw, Al. Armii Ludowej 14, entered on the list of entities entitled to audit financial statements kept by the National Council of Statutory Auditors under number 14, as auditor entitled to:

– audit the consolidated financial statement of Celtic Group for the financial year ending on 31 December 2011;
– audit the stand-alone financial statement of Celtic Property Developments S.A. for the financial year ending on 31 December 2011;
– review the mid-year consolidated financial statement of Celtic Property Developments S.A. as of 30 June 2011;
– review the mid-year stand-alone financial statement of Celtic Property Developments S.A. as of 30 June 2011.

The Company used services of PricewaterhouseCoopers Sp. z o.o., which audited the Company’s financial statements and consolidated financial statements of Celtic Capital Group in past years.
The contract with PricewaterhouseCoopers Sp. z o.o. will be concluded for a period necessary to complete the works provided therein.

Legal grounds:
§ 5.1.19 of the Ordinance of the Minister of Finance of 19 February 2009 on current and periodic information provided by securities issuers and on conditions for considering information required under laws of a state not being a EU member state to be equivalent.

Signatures of authorised representatives:
1. Elżbieta Donata Wiczkowska, Member of the Management Board
2. Christopher Bruce, Member of the Management Board