GTC to raise capital on WSE but to increase investments abroad

The Polish market that so far accounts for 90% of GTC's investments, will still be expanded, but its share will systematically decrease. "By the end of 2008 we will have invested at least USD 600 million. We are going to raise additional capital from the Warsaw Stock Exchange (WSE) in order to further differentiate our investments. At the moment ten projects are operating in Poland and residential real estate is gaining in importance. According to Eli Alroy, the head of the supervisory board, GTC is also considering the possibility of entering joint ventures, but only if they will have a majority stake. GTC posted a net profit of USD 144.1 million in 2005. (Puls Biznesu p.10) A.L.