Securities Act of 1933 - Rule 902(b)

Pavel Hollmann
General Secretary
The Prague Stock Exchange
Rybná 14, Prague 1, 110 00
Czech Republic

Dear Mr. Hollmann:

This letter will confirm the response of the Division of Corporation Finance to your request that the Division designate the Prague Stock Exchange (Burza cenných papír? Praha, a.s.) as a "designated offshore securities market" within the meaning of Rule 902(b) of Regulation S under the Securities Act of 1933. A copy of your letter is enclosed in order to avoid having to recite or summarize the facts set forth therein. On the basis of the facts presented, we hereby so designate the Prague Stock Exchange (Burza cenných papír? Praha, a.s.)

Incoming Letter:

The Incoming Letter is in Acrobat format.

http://www.sec.gov/divisions/corpfin/cf-noaction/pse052804.htm