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148/2011 Share buy back program on 8-14 December 2011 - Orange Polska

Pursuant to article 4.4 of the Commission Regulation (EC) No. 2273/2003 of 22 December 2003, the Management Board of Telekomunikacja Polska S.A. (“TP S.A.” or “the Company”) hereby informs about execution of a program of buy-back of TP S.A.’s own shares for the purpose of their redemption (“the Program”).

Between 8th December and 14th December 2011, in the course of the Program, TP S.A. purchased 847,336 own shares of par value of PLN 3 each during trading sessions on the primary market of the Warsaw Stock Exchange. The purchased shares account for 0.06% of the Company’s share capital and correspond to 0.06% of the total voting power at the General Meeting of Shareholders.

The average price of shares purchased in the period was PLN 17.8476.

Since the starting date of the Program the Company has purchased the total of 11,313,409 own shares for the amount of PLN 199,999,877.61. The own shares purchased by the Company after the starting date of the Program account for 0.85% of the Company’s share capital and correspond to 0.85% of the total voting power at the General Meeting of Shareholders.

The detailed information on each transaction (date, time, volume and price of shares) is presented in the Appendix 1 to this Current Report.

All shares have been purchased by the Company through DB Securities S.A. brokerage.

In line with the authorisation granted by the Extraordinary General Meeting held on 13 October 2011, the Program will be carried out until the total amount of funds utilised for its execution achieves PLN 800,000,000, but not later than December 31, 2012.

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