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Description of corrections to the Consolidated Quarterly Report 2010Q3

27-11-2010

The management board of Photon Energy a.s. publishes a description of the corrections made to the Consolidated Quarterly Report 2010Q3 published in EBI report 78/2010 on 14 November 2010.

Changes in Correction no. 1 published in EBI report 79/2010 on 15 November 2010:

1. In “Section 3. The management's board's comments on factors and events that affect the achieved financial results" the first paragraph on page 4 has been corrected

2. In “Section 13. Detailed consolidated financial results for the period 1 July 2010 to 30 September 2010" on page 19 in the table “Statement of Comprehensive Income" the values in the line “Profit/loss from continuing operations" had been shifted to the right by one column. This mistake was corrected in Correction no. 1.

Changes in Correction no. 2 published in EBI report 80/2010 on 15 November 2010:

1. In “Section 13. Detailed consolidated results for the period 1 January 2010 to 30 September 2010" on page 16 in the “Statement of Comprehensive Income" the PLN value for the line “Other comprehensive income for the period" was changed from “13,294" to “1,295". Correspondingly the PLN value for the line “Total comprehensive income for the period" was changed from “26,540" to “15,171" and the PLN value for the line “Comprehensive income per share" was changed from “1.154" to “0.660".

2. In connection with the correction described above in “Section 1. Selected consolidated financial results for the period of 1 January 2010 to 30 September 2010" on page 3 in the table “Selected Financial Data for the period of 1 January until 30 September 2010" the PLN value for the line “Total comprehensive income" was changed from “26,540" to “15,171".

The management board of Photon Energy a.s. wishes to express its apologies for the mistakes in the published Consolidated Quarterly Report 2010Q3.

Legal basis: Article § 5 paragraph 1, point 1 of the Annex 3 to Resolution No. 733/2009 of the Warsaw Stock Exchange Management Board dated 18 December 2009 " Current and Periodical Information in the Alternative Trading System"

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