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4 May 2000

Jacek Siwicki appointed managing partner of Enterprise Investors

Warsaw, 4 May 2000 — Jacek Siwicki has been appointed the managing partner of Enterprise Investors (EI) and charged with coordinating the firm’s expanding operations. He will be responsible for Enterprise Investors’ strategy and operations in Poland as well as Central and Eastern Europe. Jacek Siwicki joined EI in 1992 as a partner and he has played a pivotal role in Enterprise Investors’ growth and success during the last eight years, participating in and leading investments in a wide range of Polish companies. Mr. Siwicki and his team have pioneered new concepts in financing and privatization in the course of building one of the leading private equity investment firms in Central and Eastern Europe. He is well known in Poland from his prior positions in government and consultancy as well as his positions on the supervisory boards of several Polish companies. Mr. Siwicki previously served as Poland’s Deputy Minister of Privatization (1991) and as adviser to the International Finance Corporation (1992). Jacek Siwicki received a Master’s degree in Economics from the University of Gdańsk.

Ryszard Wojtkowski has been appointed a new partner of Enterprise Investors. Mr. Wojtkowski, who has 17 years of government, operations and industry experience, started his professional career as chief of staff to various Polish prime ministers (1983-1991). He has an extensive operating background in the area of consumer products, having held senior management positions at Coca Cola and Novartis/Gerber. Most recently he was promoted to Head of Infant/Baby Food and Gerber OTC, a $1.5 billion business within Novartis Consumer Health. Previously Ryszard Wojtkowski was Regional Director of Novartis Consumer Health with responsibility for Eastern Europe and several other countries. His prior positions include president of Alima Gerber (1994-97) and deputy general manager for Coca Cola (1991-93). Ryszard Wojtkowski graduated from the Academy of Economics in Katowice and studied at Harvard Business School.

“The changes in the structure of EI’s management are closely connected to our plans to raise a new fund and further expand the investment activity of Enterprise Investors in Poland and Central and Eastern Europe,” said Robert G. Faris, president of Enterprise Investors.

Enterprise Investors is the leading venture capital/private equity management firm active in Poland and the CEE region. Since 1990 the funds managed by EI have invested about $550 million in 70 Polish companies representing different sectors of the economy. Enterprise Investors is in the process of raising a new fund with capital of $300 million. The new fund will invest in Poland as well as in other CEE countries.