Report No.38_Petition for Payment Filed by Energa Kogeneracja Sp. z o.o.

The Management Board of Mostostal Warszawa S.A. (“Company”) informs that today, the Company received a petition for payment filed by Energa Kogeneracja Sp. z o.o. (“Petitioner”).

The Petitioner demands the Company to pay contractual penalties due to the fact that the Biomass-Fuelled Energy Production Unit with a capacity of 20 MWe in Elbląg (“Energy-Production Unit”) did not accomplish the Guaranteed Technical Parameters and to satisfy a claim to reduce the contractual remuneration pursuant to Art. 637 Par. 2 of the Polish Civil Code.

The Company notified about the conclusion of contract under the name of “Construction of Biomass Fuelled Energy-Production Unit with the Capacity of 20 MWe in Energa Kogeneracja Sp. z o.o.” (“Contract”) in current report No. 15 on 4 April 2011.

The value of the object of dispute amounts to PLN 106,417.065.12 along with statutory interest calculated from the date of filing the petition until the date of payment.

The Company, having analysed the petition, believes that both the claim of Energa for contractual penalties related to the Energy Production Unit’s failure to accomplish the guaranteed technical parameters, as well as as the claim for reduction in the contractual remuneration are groundless. In particular, the Company points out to the fact that in its evaluation, the Petitioner operated the Energy-Production Unit inconsistently with the Contract terms and instruction/ operation manuals, i.e. burnt fuel with parameters contradictory with Contract terms and did not perform measures of the so-called guaranteed parameters in a manner compliant with the Contract provisions.

The Issuer challenges the claims lodged by Energa Kogeneracja Sp. z o.o. and considers them groundless.

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