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Poland: PCC Rail takes over PTKiGK Rybnik

August 2007.

Poland's second biggest private rail operator PCC Rail, part of PCC AG holding, singed a deal on taking over the majority share in another private railway operator, PTKiGK Rybnik.

The negotiations were closed at late hours on August 23rd.

PCC will biy shares in PTKiGK Rybnik, but not in PTKiGK Zabrze, another
Silesia based railway operator, as it was speculated initially.

PTKiGK Rybnik has a 30% share in Trawipol company, which ownes 90% of PTKiGK Zabrze.

The speculations on the possible buyer of PTKiGK Rybnik and
Zabrze said that among the possible buyers of the two operators PCC and DB were the most serious ones.

Two weeks ago PCC SE, the mother company in the PCC holding, had 10% share in PTKiGK Rybnik and negotiated the purchase of 49,9% share.

Now PCC awaits the approval from the Office of Competition and Consumer's Protection to take over the 100% share. If that ahppens PCC SE will transfer some part of the share its subsidiary, PCC Rail.

PCC declined to comment on the transaction yet.

In 2006 PCC Rail carried 11m tones of freight (3.85% share in the market), moving 1.4 billion tkm (2.65%). In comparison to 2005 the company improved its results in tkm by 35%.

The results of PTKiGK Rybnik for 2006 were the following:

 - tones lifted: 51m (18% share in the market)
 - tones moved: 814m (1.52% share)
 - In comparison to 2005 the company improved its results in tkm by 30%.

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