The text below is an unofficial translation of the report disclosed by PKO BP pursuant to the Polish Act on Public Trading in Securities of 21 August, 1997 (as amended). As Polish is the only official language in the Republic of Poland, PKO BP assumes only responsibility for the Polish language report. PKO BP assumes no responsibility for the report in its unofficial English translation. Pursuant to Article 81.1.1 of the Act of 21 August 1997 - the Law on Public Trading in Securities, Powszechna Kasa Oszczędności Bank Polski S.A. in connection with furnishing on October 25, 2004 the Preliminary Information Memorandum to selected foreign institutional investors, hereby informs of the following changes to the Bank's prospectus published on 6 October 2004. Capitalized terms not defined in the report shall have the meaning assigned to them in the Prospectus. Stabilization/FSA.
