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Espirito Santo "Neutral" on ENEA S.A. securities

In their report of 25 February 2011, analysts at Espirito Santo lowered their recommendation for shares in ENEA S.A. from "Buy" to "Neutral". The target price per share was raised by 12.4 per cent and set at a level of PLN 24.50.

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Having in mind the diverse and international nature of Enea SA's shareholding, and also the provisions of the Best Practices of WSE Listed Companies, Enea SA guarantees the availability of its website also in English. In case of any interpretation doubts and discrepancies between the Polish and English versions, the Polish version shall prevail.