It's been a prosperous 2005 for GTC, with more to follow in 2006

The value of Galeria Kazimierz now stands at around EUR 140 million while during Q3 it was valuated at EUR 100 million. The transaction is to be finalized in Q1 2006, but the profit of around EUR 40 million in total will probably be recorded in the accounting books in Q4 2005. This year GTC also plans to sell an Allianz office building in Warsaw to Allianz Polska SA and the earlier published data indicate that it may post a profit of EUR 11 million from this transaction. The recent transactions concluded by GTC mean that its profit in 2005 may largely exceed analysts' expectations who forecast that the company's net profit would total around USD 103 million. After the first nine months of this year GTC had a profit of almost EUR 80 million. The beginning of next year may be equally successful for the company since it plans to complete the Topaz office building in Warsaw, America House in Budapest and Centerpoint II in Budapest. The market welcomed the news and the price of GTC shares grew yesterday by 2.65% to zł.174 - the largest figure in GTC history. (Parkiet, p. 6) E.B.