1. Intrum Justitia Sp. z o.o. 31 January 2005 RECOVERY OF BAD DEBTS

2. 2 INTRUM JUSTITIA THE VIEWPOINT OF THE EU MEMBERS THE MOST IMPORTANT OBSTACLE TO TRADE IN THE VIEW OF THE EU MEMBER STATES IS PAYMENT UNCERTAINTY Intrum Justitia, Europe’s provider of Credit Management Services carried out a written survey in 22 Europeans Countries involving more than 9000 companies. Full report: www.intrum.pl.

3. 3 PAYMENT TERMS, DURATION AND DELAY ALONGSIDE CULTURAL DIFFERENCES (FIRST OF ALL: A DIFFERENT USE OF VARIOUS MEANS OF PAYMENTS), THE LENGTH OF DELAY IS INFLUENCED BY TWO MAIN FACTORS: BY A CONSISTENT AND PROFESSIONAL CREDIT MANAGEMENT PROCESS, AND BY AN EFFICIENT AND EFFECTIVE LEGAL ENFORCEMENT PROCEDURE.

4. 4 PORTFOLIO SHARE OF OVERDUE RECEIVABLES A SIMILAR PICTURE CAN BE SEEN IN ALL 22 COUNTRIES: BETWEEN ONE AND TWO THIRDS OF ALL RECEIVABLES ARE PAID LATE.

5. 5 PAYMENT LOSS

6. 6 CREDIT MANAGEMENT SERVICES Due Date DD+ (60~90) SALE DD+ (180~360) EXTERNAL REMINDER SERVICE INHOUSE DEBT COLLECTION DEBT SURVEILLANCE LEGAL SERVICE

7. 7 COSTS OF COLLECTION REMINDER SERVICE DUNNING LETTERS PHONE REMINDERS DEBT COLLECTION. THE PRICE DEPENDS ON: NO OF OUTSTANDING DAYS CASE VALUE PLN 5 ~ 10 ACTION / 2% ~ 15% OF COLLECTED AMOUNT

8. 8 WHEN TO PASS THE FILE OVER THE SOONER THE BETTER COLLECTION SUCCESS RATE (PAYMENT RECEIVED)

9. 9