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Asseco Poland S.A .will provide the PROMAK Plus and ePROMAK Plus systems to Xelion Financial Advisors Ltd. The project completion is expected by the end of 2011.The agreement concluded between Asseco Poland and Xelion provides for delivery of the PROMAK Plus and ePROMAK Plus systems along with interfaces necessary to integrate these solutions with the buyer's existing information and communications environment.Xelion Financial Advisors is a company founded by Pekao Bank and UniCredit Bank in 2003. The main service rendered by Xelion is consultancy on investing in investment funds. The company is specialized in individual customer services.- We decided to select the Asseco offer primarily due to its vast experience in the implementation of IT systems for brokerage houses. We were all favourably impressed with the professional approach and commitment demonstrated by Asseco representatives at the tendering stage. It has been also quite important that currently Asseco offers the new version of its flagship product – PROMAK Plus system. Xelion is interested in the latest but at the same time well-tried technological solutions, therefore the Asseco offer was a perfect match to our needs – sums up Maciej Witkowski, Project Manager, Products and Sales Support Director at Xelion.PROMAK-Plus is a comprehensive accounting and transaction system that consists of 70 modules supporting all the activities of a brokerage office. Owing to a multitude of interfaces, the system allows for seamless integration, access and high-regime real-time information exchange with third-party systems (Warsaw Stock Exchange, National Depository for Securities, and banking systems). The remote access system ePROMAK Plus enables brokerage clients to execute broker orders and access their investment account information over the Internet. The system features highly advanced user authentication methods.The proprietary brokerage solutions of Asseco Poland are used by the Brokerage Office of Alior Bank, Brokerage House of Bank Handlowy, Beskidzki Brokerage House, and Millennium Brokerage House, just to mention a few.

Asseco Poland S.A. was granted over 31.1 million zlotys from the European Regional Development Fund, under the Operational Program Innovative Economy, to subsidize the construction and equipment for the Wilanów IT Center in Warsaw.The reimbursement is intended to compensate for the costs of construction and equipping of a modern IT Center building. The IT Competence Centre, established under the project, will foster the development of proprietary software and IT solutions to be implemented in the sectors of banking and finance, insurance, public administration and healthcare as well as in industrial enterprises.The Warsaw-based IT Center is being built at the territory of Wilanów Office Park. The project estimated value exceeds PLN 200 million, of which almost PLN 80 million have been allocated for the purchase of land. The building was designed by Hermanowicz Rewski Architects who are specialized in the creation of non-conventional designs. The general contractor is AWBUD construction company. The building will comprise of three overground storeys and two underground garage storeys. This modern structure, matching the Warsaw modernist architecture, will feature five segments linked together with a high glazed atrium hall. According to the schedule, the building will be put into use in the second quarter of 2012 which is exactly 20 months after the commencement of the construction work.

Following consultations with investors and investment banks the Management Board of Asseco Poland S.A. decided to withhold preparations for the company's listing on the NASDAQ Global Markets.The analyses carried out by the company show that entering the American stock exchange would require an issuance of shares worth between USD 150 and 200 million. Given a very strong financial position of both Asseco Poland S.A. and the Asseco Group (as at the end of 2010 the parent company held over PLN 173 million or USD 58.4 million in cash, while the group's cash position amounted to PLN 842 million or USD 284 million), such an issuance of shares seems unnecessary even assuming the continuation of their acquisition strategy.- I believe the preparation work was not in vain. We have learned a lot by getting to know the mechanisms of launching an IPO and about functioning of a company at the NASDAQ. At this point I would like to thank all the investment banks and advisors who shared with us their expert knowledge and invaluable experience that we may be able to use in the future – said Adam Góral, President of the Management Board at Asseco Poland S.A.Nonetheless, the company does not preclude a situation where a potential future acquisition of a large IT firm, ensuring a spectacular growth of the Asseco Group, might be financed by offering Asseco Poland shares at the NASDAQ Global Markets.

Asseco Poland SA signed with PSE Operator SA, an electricity supply network operator, a 9.75 million zloty contract for provision of maintenance and support services on their EMIS software.The subject of the contract is to provide support services on the business-tier applications, ensure continuing functionality and perform preventive maintenance of the Electricity Market Information System (EMIS). This is a 3-year contract that will be commenced on 16 April 2011.The company of Polskie Sieci Elektroenergetyczne Operator SA is responsible for maintaining security of the Polish National Power System (NPS). The Electricity Market Information System (EMIS) is of critical importance for proper operation of NPS as well as for sustaining continuity of industrial services provided by PSE Operator SA. The EMIS system makes its possible to balance out the demand for and supply of electricity and to manage any power supply limitations. Efficient operation of the systems is also crucial for the cross-border exchange of electricity as well as for functioning of the wholesale electricity market. Working on the solution of such great significance for the country's economy requires that Asseco Poland SA guarantees a top level service under the Service Level Agreement.Solutions developed by Asseco Poland SA have served the Polish electricity sector for over a dozen years. Nowadays, they are used by two-thirds of electricity providers operating in this market. Whereas, over 60% of all electricity bills in Poland are handled by the Asseco's proprietary billing systems. Asseco Poland SA has performed implementation projects, among others, for Poland's largest energy holdings including Enea, Energa, Enion, Tauron, and PGNiG. These projects involved the centralization of customer service offices, centralization of billing systems (in particular within the customer databases) as well as management of the measurement reading data.

Sapiens International Corporation N.V., a member of theAsseco Group, signed a non-binding term sheet for a merger with the companies of FIS Software Ltd. and IDIT I.D.I. Technologies Ltd.The terms of the term sheet reflect an aggregate value of approximately USD 75 million for FIS Software and IDIT I.D.I. Technologies, which shall be paid in cash, Sapiens shares and options to purchase Sapiens shares. The completion of the transaction is subject to various conditions, including completion of due diligence, execution of definitive agreements and obtaining applicable corporate and third party approvals. The proposed transaction is intended to bring various synergies among the merging companies and to create complementary offerings.Subject to completion of the proposed transaction, the combined entity will strive to become a market leading provider of innovative software solutions for the insurance industry worldwide. We will offer a comprehensive product portfolio, supported by industry experts and a broad customer base, with a solid financial position – said Roni Al-Dor, President and Chief Executive Officer of Sapiens Int.Sapiens International Corporation N.V. is a global provider of software solutions for the insurance industry. The company operates through its subsidiaries in North America, the United Kingdom, EMEA (Europe, Middle East, Africa) and Asia Pacific. Sapiens' innovative solutions are widely recognized for their ability to cost-effectively align IT with business demands. Their flexibility helps modernize business processes and enables insurance organizations to adapt quickly to market change.FIS Software Ltd. offers a comprehensive enterprise level solution for Life, Pension and Annuity providers. The company has a global client base across the UK, Europe, Asia Pacific and North America.IDIT I.D.I. Technologies Ltd. offers a full suite of a single end-to-end component-based integrated solution for organizations specialized in the Property and Casualty insurances. The company focuses on the markets of Europe, UK, Australia and Asia Pacific.

In 2010 the Asseco Group achieved its record-breaking financial results. Sales revenues reached PLN 3.24 billion and they increased by 6% as compared with 2009. Operating profit improved 8% year on year and amounted to PLN 569 million. The Group generated a net profit of PLN 415.1 million, reflecting a growth of 11% from the year-ago earnings of PLN 373 million. Last year Asseco signed a number of prestigious contracts and finalized its largest foreign acquisition ever. Asseco Poland S.A. took over Formula Systems, an Israeli IT holding.The Asseco Group consistently pursues its strategy to boost financial results by promoting sales of its proprietary IT solutions. In 2010, sales of proprietary software and own services increased to PLN 2.07 billion and they accounted for 64% of the total turnover. Sales revenues were evenly distributed among our individual target sectors (banking and finance 34%, industrial enterprises 32%, and public administration 32%), which proves the Group's business is well diversified.Our organic growth and acquisitions help reinforce the Asseco's position among the leaders of the European information technology market. As the only Polish IT company, Asseco ranked in the TOP 10 of the largest producers of software in Europe.The year of 2010 was extremely important also in terms of new acquisitions. The Company completed the biggest foreign acquisition in its history. Near the year's end, Asseco Poland acquired the Israel's leading IT company, namely Formula Systems, listed on the Tel Aviv Stock Exchange as well as on the NASDAQ Global Market. Owing to this investment, the Asseco Group is present also outside Europe, among others in Israel, United States, Canada, and Japan. The acquisition of Formula Systems is the first milestone in building a truly global IT major called Asseco.Furthermore, Asseco Poland S.A. acquired Necomplus, a Spanish company specialized in solutions for POS terminals and call centers, with business operations across Spain and Portugal. Other companies of the Group consolidated their local IT markets as well. Asseco Central Europe took over the Hungarian GlobeNet engaged primarily in the production of software for the healthcare sector. Whereas, Asseco South Eastern Europe was joined by two Turkish companies, namely EST and ITD, which launched the Asseco Group operations in that market.Last year Asseco Poland S.A. was awarded many prestigious contracts. In October the Company concluded two 3-year agreements with the Polish Social Insurance Institution – the first for maintenance, and the second for modification and development of their Comprehensive Information System. Asseco Poland S.A. was chosen as one of the key IT suppliers for the Polish Telecom (TP) and PTK Centertel. The Company signed 3-year framework agreements under which it shall cooperate with the Polish Telecom Group in the areas of billing systems and business intelligence software. Another significant event was to sign a package of four agreements with Vattenfall AB of Sweden, whereby Asseco Poland S.A. became an important partner to the Vattenfall Group at the corporate level.Our plans for 2011 anticipate continued expansion of the Asseco Group. Asseco Poland S.A.is engaged in negotiations with several businesses in West Europe. Together with Formula Systems, the Company intends to boost its market position also in the United States and Israel. Regardless of our investment plans, Asseco is going to focus on the business where it has strong competitive advantage – the production of its own state-of-the-art IT solutions for the largest institutions in Europe and worldwide.