Competitive labor costs Source: Statistical Offices.

Competitive labor costs

Source: Statistical Offices

Unemployment rate, May 2010

3,5 3,5 3,74,7

5,6 5,6

10,1

0

2

4

6

8

10

12

Warszaw a Poznań Katow ice Kraków Gdańsk Wrocław Łódź

Average monthly wages and salaries in enterprise sector, May 2010

774 835 838

10241111

0

1000

2000

3000

4000

5000

Łódź Wrocław Kraków Katow ice Warszaw a

Office space in Łódź

Competitive office lease combined with A and B+ class office buildings

Office space in Łódź

• Modern stock office in Łódź (A/B+, B) is currently approx. 164 000 sqm • Additional 129 000 sqm will be available in 2010/2011 (including 74 300 class A office space) • The office space is concentrated in the City centre • 45 900 sq m of the total office space in Łódź has standard A• Prime headline rents in Łódź are 14 – 15 EUR/sqm (10 EUR/sqm for B/B+ class) • There is a trend of increasing supply of the A grade office space

• Large number of old post – industrial buildings dating back to the 19th century have been revitalized and adapted for office purposes

• 2009 ended with a high vacancy rate (around 20%) but the competitive office lease costs and many non – rent incentives given by the developers encourage more and more companies into the City and make it very attractive for investors searching for office space with a short time – frame

Source: Team analysys