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        Penny Blue Association (PBA) News:
         
        2008-09-01
        Financials
         
        August Financial Statement
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        Dear Shareholders,

        August was quite good month for us. However, big part of our revenues came from selling some of our investments at the WSE. The funds we have received are still locked on our account there.

        Net income totaled to L$ 17.030 out of which L$ 3.000 was paid out in dividend.

        Revenues:    L$ 21.730
        Expenditures: L$ 4.700
        ---------------------------
        Net income:   L$ 17.030

        Detailed financial statements can be found on our web page: www.pba.ej.am under investors relations link.

        For the next month we expect a decrease in net income.

        Best regards,

        Munito Jacobus

         
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