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) hereby informs that on 26 July 2007, in performance of the agreement entered into with European Bank for Reconstruction and Development on 20 April 2007, mentioned in report No. 21/2007, PKO BP acquired assets of significant value i.e. 6,194,908,483 shares of KREDOBANK SA representing 28.2486% of the share capital of KREDOBANK SA and voting rights at the General Meeting of Shareholders of KREDOBANK SA. The transaction price was set at EUR 17,348,177 (say: seventeen million three hundred and forty eight thousand one hundred and seventy seven euro). The purchase of the shares of KREDOBANK SA was financed entirely from the own funds of PKO BP. PKO BP currently holds 21,531,149,420 shares of KREDOBANK SA of the total nominal value of UAH 215,311,494.20 (say: two hundred and fifteen million three hundred and eleven thousand four hundred and ninety four Ukrainian hryvnias and 20 kopecks) representing 98.1815% of the share capital of KREDOBANK SA and voting rights at the General Meeting of Shareholders of KREDOBANK SA. The acquisition is an investment with long-term duration . KREDOBANK SA is linked entity as defined in the Law of Accounting. The assets acquired are significant because they exceed 20% of the share capital of KREDOBANK SA.
