BRK

S.S.I.F. BROKER S.A.

BVB TICKER: BRK

Address: CLUJ-NAPOCA, jud. CLUJ, Str. Albert Einstein nr. 8

Phone: +40 264433677

http://www.ssifbroker.ro/

Date: 26.07.2007

About the company

S.S.I.F. M Broker SA is a Romania based Investment Intermediary company. It is one of the first stock-exchange operating companies in Romania. Since its foundation, no shareholder was completely in power over the company; the founding document stipulates that no shareholder may own more than 15% of the share capital of SSIF Broker SA company. This stipulation is ment to protect the company and the shareholders by a taking-over. Since it has been founded (since 1994), SSIF Broker SA increased almost yearly its share capital. These operations were determined by the increasement of the volume of the companies’ transactions which implied the capital market development, and by the high profitableness of the companies capitals, which determined new founds allocation from the existing shareholders and the involvement of new shareholders.

The firm is a founding member of the Bucharest Stock Exchange, of the National Association of securities Companies, shareholder at the National Clearing, Billing and Deposit Securities Company, Sibiu Monetary, Financial and Merchandise Stock Exchange, The Romanian Clearing House.

SSIF Broker SA Cluj-Napoca has the Romanian National Securities Exchanges Commission (CNVM) operating number 11/28.12.1994 and stock exchange transactioning authorization number. D8/19.04.1995.

History

SIVM Broker SA (first commercial name of the company SSIF BROKER SA) was founded as a share company starting on the 26^th October 1994. The starting capital of SSIF Broker SA was of 58,500,000 lei.

SSIF BROKER S.A. Cluj-Napoca has the CNVM operating number 11/28.12.1994 and stock exchange transactioning authorization number. D8/19.04.1995.

Major shareholders

Shareholder	Shares	Percent
OTHER SHAREHOLDERS	92,282,966	84.49%
CARTIS IOAN	9,546,774	8.74%
S.C. INTERVALCO S.A.	7,391,336	6.77%

Total No. of Shares	109,221,076
Nominal Value	0.5000
Share Capital	54,610,538.00

Annual financial information (Key financials)

	2006(RON)	2005(RON)	2004(RON)*
Fixed assets - Total	4,985,317.00	12,018,109.00	8,806,821.80
Current assets - Total	98,937,968.00	41,175,101.00	26,269,366.90

Debtors - due within one year	21,132,232.00	7,235,493.00	2,387,432.60
Current assets/Net current liabilities	77,705,221.00	33,928,757.00	23,881,934.30
Total assets less current liabilities	82,690,538.00	45,946,866.00	32,688,756.10
Debtors - due after more than one year	175,201.00	0.00	0.00
Revenues in advance	136,546.00	15,517.00	0.00

Subscribed paid up capital	54,610,538.00	31,870,393.00	23,114,587.00
Shareholders equity - Total	82,515,337.00	45,946,866.00	32,688,756.10

Total receivables	2,574,673.00	1,057,454.00	116,850.20
Total liabilities	21,307,433.00	7,235,493.00	2,387,432.60

Net turnover	13,284,568.00	8,982,828.00	4,379,711.30

Operating income - Total	13,825,597.00	9,030,237.00	4,412,666.80
Operating expenses - Total	10,309,522.00	8,144,561.00	3,849,004.40
Operating result	3,516,075.00	885,676.00	563,662.40

Financial income - Total	21,536,750.00	15,427,149.00	563,662.40
Financial expenses - Total	3,257,593.00	1,315,079.00	351,883.20
Financial result	18,279,157.00	14,112,070.00	7,203,865.50
Current result	21,795,232.00	14,997,746.00	7,767,527.90

Extraordinary income	0.00	0.00	0.00
Extraordinary expenses	0.00	0.00	0.00
Extraordinary result	0.00	0.00	0.00

Total revenues	35,362,347.00	24,457,386.00	11,968,415.50
Total expenses	13,567,115.00	9,459,640.00	4,200,887.60

Gross result	21,795,232.00	14,997,746.00	7,767,527.90
Net result	18,676,427.00	12,951,020.00	5,941,621.40
Result per share	-	-	-

Back payments - Total	0.00	0.00	0.00
Back payments for suppliers - Total	0.00	0.00	0.00
Back payments of liabilities to the social insurance budget	0.00	0.00	0.00
Taxes which are not paid to the State budget upon payment date	0.00	0.00	0.00

Average number of employees (only full time employees)	136	92	69