Tranche Update on Konsorcjum Stali Spólka Akcyjna's Equity Buyback Plan announced on December 5, 2008.

Konsorcjum Stali SA is a Poland-based producer and distributor of steel. The Company's range of products includes six sectors: Reinforcement Steel, including ribbed bars, welded meshes and wire rods; Bars, comprising round smooth bars, flat bars and square bars; Cold-rolled steel sections, including square, rectangular, cold-bent angle and cold-bent channel bars; Hot-rolled shapes, encompassing channel bars, I-bars, equal-sided angles, unequal-sided angles and equal T-bars; Tubes, black and zinc coated, as well as seamless; and Sheets, comprising cold-rolled, hot-rolled, hot zinc-coated and electrolytic zinc-coated sheets. As of December 31, 2011, the Company operated a chain of 14 distribution centers and six production plants as well as two wholly owned subsidiaries, Polcynk Sp. z o.o. and KS Serwis Sp. z o.o.