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 only assumes responsibility for the Polish language report. PKO BP assumes no responsibility for the report in its unofficial English translation. Legal basis: Art. 81.1.2 of the Law on Public Trading in Securities (restated: Dz. U. of 2002, No. 49, item 447, as amended). The report: The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna hereby informs that on 13 December 2004, the Bank received from Credit Suisse First Boston (Europe) Limited (“CSFB”) a Notice on Termination of the Stabilisation Period, pursuant to which CSFB has not effected any Stabilising Transactions within the Stabilisation Period which ended on December 10, 2004, (30 days after the first quotation of the Offer Shares on the Warsaw Stock Exchange), and has not exercised the Reverse Greenshoe Option as defined in the Reverse Greenshoe Option Agreement entered into among CSFB, the State Treasury of the Republic of Poland and Bank Gospodarki Żywnościowej on 21 October 2004. Detailed information concerning the Reverse Greenshoe Option Agreement and Stabilising Transactions was published in the Current Report No. 13/2004, 22 October 2004. Stabilisation/FSA
