Legal grounds: Paragraph 5.1.1 of the Ordinance of the Minister of Finance dated 19 October 2005 on current and periodical information provided by issuers of securities Report: The Management Board of Powszechna Kasa Oszczędności Bank Polski SA (hereinafter PKO BP SA) hereby informs that on 24 January 2006 it entered with Credit Suisse Asset Management Holding Europe (Luxembourg) S.A. into a conditional agreement for the sale of 45,000 registered voting preference shares of PKO/CREDIT SUISSE Towarzystwo Funduszy Inwestycyjnych S.A. with its seat in Warsaw (hereinafter TFI) of the nominal value of PLN 100 each. The shares shall be acquired by PKO BP SA upon satisfaction of all conditions precedent provided for in the agreement. The transfer of ownership of the shares is to be completed by the end of the 1st quarter of 2006. The shares purchased represent 25% of votes at the general meeting of TFI. As a result of the purchase of the shares of TFI, PKO BP SA will hold 135,000 shares representing 75% of the share capital of TFI and 75% of votes at the general meeting of TFI. The purchase price for the shares is PLN 55,000,000 (fifty five millions). Credit Suisse Asset Management Holding Europe (Luxembourg) S.A. is not an affiliate of PKO BP SA. The assets purchased are recognised as material due to the fact that they exceed 20% of the share capital of TFI. The shares shall be purchased for the own funds of PKO BP SA. The assets purchased constitute the long-time capital investment of PKO BP SA.
