Legal grounds: Paragraph 5.1.3 of the Ordinance of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and the conditions for regarding information required by the law of a non-member state as equivalent. The report: The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna ("PKO Bank Polski S.A." or "Bank") hereby informs that on 1 February 2010 Bank entered – with one of the PKO Bank Polski S.A. clients ("Client") – into an agreement on organization and handling of standby bonds issue facility for an amount of PLN 1,500,000,000 (one billion five hundred million). The agreement on organization and handling of bonds issue facility terminates on 31 January 2011. PKO Bank Polski S.A. is obliged to purchase bonds issued under the programme. The bonds’ interest rate is based on WIBOR 1M rate, plus the Bank’s margin. Issued bonds will be unsecured. The agreement provides for no contractual penalties. The execution of the above agreement constitutes grounds for the requirement to disclose the entering by the Bank into a significant agreement, since the total value of consideration under the agreement concluded by Bank with the Client meets the criteria referred to in Paragraph 2.1.44) of the Ordinance of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and the conditions for regarding information required by the law of a non-member state as equivalent.
