Purchase of shares in Columbus Factoring Solutions (RB 14/2010)

Legal basis:

Article 56 section 1 item 1 of the Act on Public Offering – confidential information

Content of the report:

The Management Board of Fast Finance SA informs that on 18 August 2010 it signed two agreements to purchase shares in Columbus Factoring Solutions Sp. z o.o. (CFS), headquartered in Łódź, from Regionalne Fundusze Inwestycycji Sp. z o.o. and Mr. Paweł Sobieszczeuk, the President of CFS Management Board. In total Fast Finance purchased shares comprising 50.12% of the CFS share capital. The price of the purchased shares amounted to PLN 1.2 mln, and it does not exceed 10% of the Issuer's own equity.

The purchase was financed from the Issuer's own funds. The strategic objective behind this transaction is to expand the Issuer's operation into the debt market of the health care system, which is one of the most dynamically developing sectors on the Polish receivables and debt market. On account of acquiring over 50% shares in the CFS share capital Fast Finance SA will consolidate the company's results as of the report of Fast Finance SA for Q3 of 2010. The experience and standing of CFS forms the basis for building a significant position of Fast finance on the rapidly growing debt market of the health care system. In 2009 Columbus Factoring Solutions generated sales revenues of PLN 350 646 ( compared with PLN 294 690 in 2008) and net profit of PLN 129 859 ( compared with PLN 193 156 in 2008). The balance sheet total of Columbus Factoring Solutions reached PLN 2 267 939 as on 31.12.2009.

In addition, the Issuer points out that according to the CFS' plans it will be transformed into a Public Company and introduced to trading on the NewConnect market at the turn of 2011 and 2012. More about CFS can be found on the company's website www.cfs.pl.

Signatures of the company’s representatives:

Jacek Longin Daroszewski - Chairman

Jacek Zbigniew Krzemiński - Vice-chairman