Current Report No. 20/2009 - Changes to the declaration of the Management Board of PKO BP SA referring to not paying dividend from the profits earned in 2008 which was published in current report 44/2008, and a recommendation on the payment of the..

...dividend out of the 2008 net income. Legal basis: Art. 56 item 1 point 2 of the Act of 29 July 2005 on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading and Public Companies in connection with § 38 Section 1.7 of the Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the legal regulations of a state which is not a member state. The current report: With reference to current report No. 44/2008 dated 1 December 2008, the Management Board of the Company announces that it has changed its declaration on the non-payment of the dividend out of the 2008 net income. Taking the above into account, the Management Board of the Company informs that on 8 June 2009 the Management Board of the Company adopted the resolution concerning the distribution of profit earned by Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna in the year 2008 and resolved to recommend to the Ordinary General Meeting of the Shareholders of the Company that the Company pay the dividend out of the 2008 net income in the amount of PLN 2,880,000,000, i.e. PLN 2.88 per one share. In accordance with § 9 sec. 2 of the Company’s Charter, the recommendation mentioned above will be presented to the Supervisory Board of the Company for their review and opinion. Under Art. 395 § 2 item 2 of the Polish Commercial Companies Code and pursuant to § 34 of the Company’s Charter, the said recommendation will be made available to the Company’s shareholders together with the grounds for adopting such a resolution and the opinion of the Supervisory Board of the Company before the Ordinary General Meeting of the Shareholders of the Company which will be convened on 30 June 2009. The Ordinary General Meeting of the Shareholders of the Company is entitled to adopt a resolution on the distribution of the 2008 net income of the Company.