We are pleased to inform you that, on 19 August 2005, ADVISERS S.A. was accredited by the Polish Agency for Enterprise Development within The Sector Operations Program – Increasing Enterprise Competitiveness (Action 2.1. “Aiding the increase of competitiveness in small and medium enterprises”), in the following areas:

• Merging companies
• Gaining external funds for the development of business activity

The accreditation means that the Polish Agency of Enterprise Development acknowledges the firm's appropriate resources, i.e. experts with high qualifications and experience to carry out the above-mentioned consulting tasks in the sector of small and medium enterprises.

More information about programs co-financed by the European Union funds can be found at the Polish Agency of Enterprise Development website:

http://www.parp.gov.pl/