Current report no.18/2008

Subject: Closure of individual subscription of shares to the bearer, issue J

Legal basis: Article 56 of Section 1 item 2 Public offer Section – current and periodical information

Report content:

Legal basis: § 33 section 1 of the Finance Minister resolution from 19^th October 2005 on current and periodical information provided by stock issuers (Law Journal no. 209, item 1744)
LSI Software’s Board wishes to inform that individual subscription was conducted on 24^th April 2008 due to the rise of capital stock within limits set by the target capital by the issue of common shares to the bearer, issue J, with the simultaneous dispossession of the shareholders so far the purchase right of the new issue. Due to the subscription kind and contracting the share assumption the investors did not file orders and no shares were assigned.

Assumption contracts of the shares, issue J, were signed on 28^th April 2008 (Current report no.16/2008 from 29.04.2008r.).

The subscription included 193,726 (one hundred and three thousand seven hundred and twenty six) shares. The issue was directed to two investors being natural persons (holders of individual warrants, issue B) – Andrzej Ziółkowski and Piotra Żychski (investors) – former shareholders of Softech Co., Ltd. with headquarters in  Kołobrzeg, in possession of liabilities due to sale of shares Softech Co., Ltd. Purchased by LSI Software S.C.

Within the subscription the two investors assumed 193,726 (one hundred and three thousand seven hundred and twenty six) shares.

The shares were assumed at issue price in the amount of PLN 10.84 (ten Zloty and 84/100 Groszy) each. Each of the investors covered them with required liability due to payment of the sale price of shares Softech Co., Ltd. purchased from the investors by LSI Software S.C.
The total value of the conducted subscription amounted PLN 2,099,989.84 (two million ninety nine thousand nine hundred and eighty nine Zlotys and eighty four Groszy).

The issue cost estimated by the Issuer for shares of issue J (preparation and carrying out) will exceed round PLN 52,000.
In account registers companies and issue expenses to be born were registered In section „Progress report for accounting on the day of rising the capital stock”. Those expenses will diminish the Company’s reserve capital created by surplus of issue value with issue J over its nominal value. The average cost of conducting a subscription for one share will amount PLN 0.27. 

Signatures of persons representing the company: