Share boost for cable TV and Internet provider Spray

During the last session on Friday the share price increased by 11.2% and was valued at zł.22.8, which was 181% more than the issue price. Apart from revenues of zł.6.61 million for the last year, the company has not published any new information. Spray had to revise the forecast presented in its prospectus, when the funds obtained from the stock exchange proved to be more moderate than expected. This forced the company to restrict their plans and focus only on the development of Internet networks instead of acquiring other telecommunication networks in Warsaw. However, Bogdan Paszkowski, Spray's chairman, assures that the company will continue to carry out the plans from the prospectus. Despite the revision of forecasts for 2005, Spray has not changed its plans for this year. It predicts revenues of zł.16 million, zł.4.8 million of EBITDA and zł.2.74 million of net profit. (Parkiet, p. 2) M.K.