AVAX S.A.

Press Release

J&P-AVAX SA signed on 30.05.2008 with Poland's General Directorate of National Highways & Motorways a contract for the project titled CONSTRUCTION OF SOSNICA INTERCHANGE ON THE CROSSINGS OF A1 AND A4 MOTORWAYS IN KM 517+980,04, budgeted at euro 207.2 million excl. VAT.
The tender proceed in two stages. J&P-AVAX participated in the prequalification phase with no partners, facing competition from very strong groups & joint ventures of the international construction scene, including STRABAG - HEILIT+WOERNER, SKANSKA, MSF, Mota-Engil - Mostostal Warszawa, EUROVIA -STAVBY - ODS and Polimex-Mostostal - DOPRASTAV. J&P-AVAX outbid its competitors in the second phase of the tender process and was declared lowest bidder.
When completed, Motorway A1 will cross central Poland north to south, from Gdansk on the Baltic Sea through Lodz to the Polish-Czech border, stretching 582 kilometres and constituting part of the E75 European Motorway. The new contract pertains to constructing the southern section of the A1 project, including a triple-level junction with 6 road branches at the intersection of Motorways A1, A4 and National Highway 44.
The project involves the construction of Motorway A1 over a 2.1 km stretch at dual carriageway standard with three planes plus one emergency in each direction, the construction of National Highway 44 over 2 km, two bridges with a total span of 1,700 m and a surface of 23,300 sq.m., reconstruction of local and connecting roads totaling 31.3 km, bored piles totaling 16.5 km, road lighting and sign posting, sound barriers stretching 3,850 m, etc. The project has a 14-month deadline.
This latest contract follows two projects already in progress by J&P-AVAX in Poland, one involving a euro 13.7 m building work in Gliwice and one involving a euro 16.7 m roadwork in Miedzyrzec Podlaski, and, most important of all, the project for the construction of the Sosnica-Belk section of Motorway A1, stretching 15.4 km and budgeted at euro 175 m. Including the new contract, J&P-AVAX's work-in-hand in Poland exceeds euro 315 m.