Choosing the entity authorized to audit financial reports.

Date of issue: 2011-04-20

Legal basis: Art. 56 Clause 1 Item 2 of the Offering Act - current and periodic information.

SUBJECT:
Choosing the entity authorized to audit financial reports.

CONTENT OF THE REPORT:
Izostal S.A. (the Company) Management Board hereby announces that at the meeting dated April 20,  2011 the Supervisory Board passed a resolution under § 12 Item 2 Letter g) of the Company Articles, to choose the auditing company Kancelaria Porad Finansowo - Księgowych dr Piotr Rojek Sp. z o.o. with its registered seat in Katowice at Floriana 15 Street (entered in the register of entities licensed to audit financial reports, as ref. No. 1695) to:

•    audit the Company annual financial reports, drawn under IAS/IFRS, for the financial years 2011 – 2012
•    review - under IAS/IFRS - the Company semi-annual financial reports for the years 2011 -2012.

The Supervisory Board made a decision in accordance with valid regulations and standards.
The contract with the selected entity will be concluded for two years.

The Company employed the above business entity in the previous years, to audit and review financial reports for the years 2005 - 2010 and to audit historical financial information and forecasts for drawing the issue prospectus.

Specific legal basis: §5 Clause 1 Item 19 of the Ordinance of the Minister of Finance of February 19, 2009 on current and periodic information disclosed by the issuers of commercial papers and the conditions for recognizing as equivalent the information required by the laws of a non-member state (Journal of Laws No. 33, item 259).

SIGNATURES OF PERSONS REPRESENTING THE COMPANY:
Management Board President, General Director Marek Mazurek 2011-04-20
Management Board Vice President, Commercial Director Jacek Podwiński 2011-04-20

INFORMATION ON THE ENTITY:
Full name of the issuer: IZOSTAL SPÓŁKA AKCYJNA
Abbreviated name of the issuer:  IZOSTAL S.A
Sector based on the classification of Warsaw Stock Exchange:  Other industry
Address: 47-120 Zawadzkie Polna 3
Telephone: (77) 405 65 00
Fax: (77) 405 65 01
e-mail:info@izostal.com.pl
www.izostal.com.pl
VAT No. [NIP]:756-00-10-641
Statistical No. [REGON]: 530884678