Legal basis: Art. 56 item 1 point 2 letter a of the Act of 29 July 2005 on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading and Public Companies The report: The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (the “PKO Bank Polski” or “Bank”) announces that on 10 May 2011 the rating agency Standard & Poor's Ratings Services (the ” S&P”) informed that the S&P had maintained the rating given to the Bank at level “A-pi”. In S&P opinion, the announced fall in the state's shareholding (in PKO Bank Polski) which could be further cut over the coming years (although the stake should remain above 25%), will not prevent the government from retaining control over Bank’s strategic decision. This is because of a recent change in the Bank's articles of association (Resolution No. 3/2011of the Extraordinary General Meeting of the Bank on the amendments to the Articles of Association of PKO Bank Polski).
