Cyfrowy Polsat (www.cyfrowypolsat.pl) announced that Polaris Finance B.V, controlled by Zygmunt Solorz-Żak, and Sensor Overseas, controlled by Hieronim Ruta, will sell the shares in order to quicken the process of building market demand. However media magnate Zygmunt Solorz-Żak plans to maintain a major share in Cyfrowy Polsat's. The money gained from this sale will be used for investments in the telecommunication sector; in particular, Solorz-Żak will bid for a 100% stake in Polkomtel, a mobile phone operator in the Plus chain. The shares of Polkomtel (www.polkomtel.com.pl) are priced in the range of 16-18 million PLN.

The transaction will by conducted by Deutsche Bank, Credit Agricole Corporate and Investment Bank and Trigon. Polsat Cyfrowy stock has recently been selling at just over 16 PLN. Currently Polaris Finance B.V holds 175.025,000 shares of Cyfrowy Polsat, or 50.24% of total shares and Karswell Limited holds 53 887,972 (15.47%). The remaining 119,439,864 shares (34.29%) belong to smaller shareholders. The Board of Cyrowy Polsat has approved this sale offer as a means of increasing the financial fluidity of the company.