1. Dom Development SA Presentation of 2nd Quarter 2007 Results http://inwestor.domdevelopment.pl/information-for-investors/presentations (Meeting with investors and analysts – 10 August 2007)

2. 2 Evaluation of the Warsaw real estate market  Demand for flats and houses  Households’ financial condition  Availability of mortgage facilities  Macroeconomic conditions  Demographic environment Neutral Positive Neutral Positive FACTOR: EVALUATION:

3. 3 Price increase dynamics in the 6 months of 2007 Average price per sq m (PLN) December 2006 June 2007 Change of price per sq m Warsaw 7,3548,133 10.6% Source: redNet Property Consulting Increase by 10.6 %  In the 6 months the prices increased by 10.6%, with about 8% in the 1st Q and about 2.6% in the 2nd Q

4. 4 Basic financial results for the 6 months of 2006 and 2007 (mPLN)  2Q 2007/2Q 2006 revenues increased by 0.7 % net profit increase by 28.1 % Record levels of net profit at PLN 54.7 mn  1H 2007/1H 2006 revenues increased by 15.2 % net profit increase by 59.1 %, 2Q 20062Q 2007 change % Revenues228.3230.0+ 0.7 Gross sales profit 70.788.4+ 25.0 EBITDA53.066.5+ 25.5 Net profit42.754.7+ 28.1 1H 20061H 2007 change % Revenues349.0401.9+ 15.2 Gross sales profit 104.1151.4+ 45.4 EBITDA73.8110.9+ 50.3 Net profit57.992.1+ 59.1 Quarterly financial results6 month financial results

5. 5 Quarterly financial results 1Q 2006 – 2Q 2007 (mPLN) Quarterly profits: Quarterly revenues:  Record level of revenues and profits in the 2Q 2007 indicates the ever growing scale of operations of the company and increased efficiency

6. 6 Quarterly margins (%) 1Q 2006 – 2Q 2007  The clear increase of the net profit and the gross sales profit margins is a consequence of price increase, greater effectiveness of projects and a relatively high share of high standard projects in 2006 Quarterly margins:

7. 7 Balance sheet data 1Q 2006 – 2Q 2007 (mPLN)

8. 8 Flat sales and completion 2 Q 20062 Q 2007Change Popular flats 229441+ 212 Superior apartments 13394- 39 Luxury apartments 190- 19 Houses 81- 7 Total389536+ 147  Dynamic increase in flat sales in the 2Q 2007 by about 38% as compared to 2Q 2006. 2 Q 20062 Q 2007Change Total190158- 32 Quarterly completions delivered to clients Quarterly sales 1H 20061H 2007Change Popular flats 584813+ 229 Superior apartments 307199- 108 Luxury apartments 340- 34 Houses 212- 19 Total9461 014+ 68 1H 20061H 2007Change Total555561+ 6 6 month sales 6 month completions delivered to clients

9. 9 Projects – high increase of land bank Number of flats As at 31 March 2007 As at 9 August 2007 Change Completed projects 8,9649,220+ 256 Projects under construction and offered for sale 2,6853,273+ 588 Controlled land / projects in the course of preparation 6,0047,328+ 1,324 Total 17,65319,821+ 2,168  The Company completed projects consisting of over 9,200 flats and houses.  At present the Company is in the process of constructing over 3,200 flats and apartments having the value of about PLN 1.5 billion  Dom Development also has further 7,328 flats and houses under preparation. The value of these projects amounts to about PLN 3.4 billion.

10. 10 Controlled land / projects in course of preparation (as at 9 August 2007)

11. 11 Dom Development on the WSE Debut date: 24 October 2006 End price on debut date: PLN 121.50 Capitalisation at debut price: PLN 2.6 billion Capitalisation on 8 August 2007: PLN 3.9 billion Capitalisation increase since the 1st quotation: + 50 % Debut quotation price of PLN 121.5 Price on 8 Aug 2007 PLN 158.0