České dráhy, a.s.

In 2009, EEIP prepared a comprehensive analysis of selected equity holdings of Czech Railways. The analysis included the development of economic data and other economic and financial documentation (position on the market , dependence on Czech Railways – cost benefit assessment for Czech Railways, evaluation of the current financial situation and process perspective) of selected properties of Czech Railways (Research Institute and CD – Telematics a.s., Track machinery company, a.s., Jídelní a lůžkové vozy, a.s., RAILREKLAM , spol . Ltd., ČD Travel , Ltd., Traffic Training Institute , Inc.) in terms of the potential for a sale and ensuring the implementation of key activities for the parent company. In 2008, EEIP prepared an analysis of the impact of connecting the national rail freight operator ČD Cargo, a.s. and ŽSSK Cargo, a.s.