The Czech market declined by 0.7% due CEZ that was under selling pressure at the end of the session closing at CZK 1,255. Philip Morris also closed lower by 2% at CZK 9,520 as foreign accounts were selling during the day. Orco increased after announcement of new project in Prague with the total investment of CZK 450m and completion at the end of 2009. We saw some profit taking on Erste Bank and it was traded in-line with Vienna market. Komercni banka was traded around the CZK 4,490 – 4,500 level for most of the day and closed at CZK 4,495.