RB-1-2007 Disposal of Shares of Issuer

ComArch S.A. Management Board announces that on 19 January 2007 pursuant to Art. 160 Sec. 1 Pt 1 of the Act on Trading in Financial Instruments, company received information about disposal of shares of Issuer.

On 11 January 2007 Vice-President  of ComArch S.A.'s Management Board sold 150 ordinary bearer shares of ComArch S.A. for 201 PLN each.