GLOBE TRADE CENTRE SA Change in the composition of the Management Board of Globe Trade Centre S.A. effective as of 12 August 2014

The Management Board of Globe Trade Centre S.A. (the "Company") herebyannounces that on 12 May 2014, the Supervisory Board of the Company appointed Thomas Kurzmann as the President of the Management Board of the Company for a three-year term, effective as of 12 August 2014. Simultaneously, on the same day, the Supervisory Board released Alain Ickovics from his duties as the President of the Management Board, effective as of 12 August 2014.

Thomas Kurzmann has more than 25 years of experience in construction,real estate investment and lending. As a graduate of the Federal Higher Technical Institute in Graz (Civil Engineering), Mr Kurzmann started his professional career with a family construction company, where he was responsible for the supervision, cost estimation and procurement of residential, structural and civil engineering projects until 1992. In 1993-94 he worked for Bauholding / ILBAU AG, where he was responsible for the cost estimation and claims management for industrial and commercial real estate projects. In 1994 he joined Wayss & Freytag AG as assistant to the CEO and a project manager responsible for large industrial real estate projects. In 1995 Mr Kurzmann was promoted to the position of Director of Wayss & Freytag AG Poland and Managing Director of Wayss & Freytag Poland Sp z o.o., where he was the driving force behind the introduction of HIT supermarkets to the Polish market, as well as some other real estate projects in Poland. In 1999, Thomas Kurzmann moved to West GkA Management GmbH to become Director of Project Development responsible for high-end residential and retail and office projects development in the German and Russian markets. Between 2003 and 2005 he was a Managing Director at IBI Real Estate GmbH, responsible for development and asset management of more than 20 properties valued at over €900 million located in Holland, Sweden, France, the UK and the USA. In 2006, Mr Kurzmann became Head of Deka Real Estate Global Funds at Deka Immobilien GmbH, where his main goal was to restructure the Global Fund and its € 1.9 billion portfolio of properties located in Germany, Italy, Spain, France, Belgium, Holland, the UK, the USA, South Korea, Australia and Japan, as well as to redefine and optimize all procedures, the operating process and the strategy of Deka Real Estate. Between 2007-2009 Thomas Kurzmann served as CEO at BV Development Company in Moscow and in 2009 he joined Europolis AG as the CEO. After the sale of Europolis and its integration into CA Immo AG in 2011, Thomas Kurzmann went back to Volksbank AG, the initial shareholder of Europolis, to become Head of Real Estate and Corporate Business.

According to Thomas Kurzmann, he is not entered in the register ofinsolvent debtors maintained pursuant to the Polish Act on the National Court Register dated 20 August 1997, he does not perform any activities outside of the Company's business which could be considered competitive thereto, he does not participate in any competitive business, either as a partner in a civil partnership or any other type of partnership, and he is not member of the authorities of any competitive company or any other competitive entity.

More information on page: biznes.pap.pl

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