Conclusionof the final property sale agreement for the propertyA4 Business Park office complex (Phase 3) in Katowice

Withreference to the information published in current report No. 31/2016,the Management Board of Echo Investment S.A. (the "Issuer")hereby reports that on 26 April 2017 a subsidiary of the Issuer, ProjektEcho - 135 spółka z ograniczoną odpowiedzialnością spółka komandytowa,which acted as the seller, and a subsidiary of Echo Polska PropertiesN.V. ("EPP"), A4 Business Park - "Iris Capital" spółka zograniczoną odpowiedzialnością spółka komandytowa, which acted as thebuyer, concluded the final sale agreement concerning real propertylocated in Katowice at ul. Górnośląska, Polna and Francuska along with abuilding situated thereon which is a part of an office complex under thename of A4 Business Park (the "Real Property") (the "Agreement").

TheAgreement contains standard provisions and representations of the sellerand the buyer for transactions of such type, as well as standard termsand conditions concerning the liabilities of the parties. The sellerprovided the buyer with a quality guarantee regarding the building andconstruction facilities located on the Real Property with reference toindividual elements specified in the Agreement and within a periodspecified in the Agreement. The provisions of the Agreement do notdiffer from the provisions used in transactions of this nature.

As partof the transaction envisaged under the Agreement, the seller and thebuyer concluded a rental guarantee agreement. The basic provisions ofthe this agreement envisage a guarantee provided by the seller to thebuyer as regards the payment of rent fees and average operating costsfor individual parts of the building which were not leased to thirdparties on the day of the signing of the Agreement and parts of thebuilding which were leased but in relation to which the rent wasdiscounted or rent-free periods were introduced.

Furthermore,the seller and the buyer concluded: (i) an escrow account agreement;(ii) a fit-out works agreement under which the seller shall conductfit-out works on the Real Property in favour of the buyer for anadditional remuneration; and (iii) a profit participation loan agreementregarding the repayment of the loan granted by EPP (Cyprus) 2 Limited, asubsidiary of EPP.

Theultimate sale price resulting from the calculation described in currentreport No. 31/2016 was EUR 27,500,159 increased by VAT. Part of theprice in the amount of EUR 15,469,996 shall be paid promptly after theexecution of the Agreement pursuant to the provisions of the escrowaccount agreement. The remaining part of the price in the amount of EUR12,030,163 and the entire amount of VAT due on the price shall be paidwithin ten business days from the execution of the Agreement. Thepayment of the deferred part of the price and the entire amount of VATwas guaranteed by EPP.

Takinginto consideration additional payments which the seller could obtain onthe basis of the fit-out work agreement, the total value of the incomeinvolving the sale of the Real Property could increase to up theestimated amount of EUR28,469,995(increased by VAT).

Legalbasis: Art. 17 section 1 MAR - confidential information.