Legal grounds: Paragraph 5.1.3 of the Ordinance of the Minister of Finance of 19 October 2005 on current and periodical information provided by issuers of securities. The report: The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna hereby informs that on 22 November 2005 the Bank entered into 4 credit agreements with one of the PKO BP SA clients (the “Borrower”). The subject of these agreements is to grant to the Borrower revolving credits in PLN for the amount of PLN 1,110,000,000. The maturity date is 21 November 2007. Each credit will be delivered on Borrower’s request. Interest on the used part of credits is calculated at a variable rate on an annual basis. For each credit the interest rate is equal to the reference WIBOR T/N rate plus PKO BP S.A. margin. The claim under each credit granted was secured by an unconfirmed power of attorney in respect of a bank account with the National Bank of Poland and a declaration of submission to enforcement under the Banking Act for a total of up to 150% amount of credit. These agreements are to be deemed significant because during a period shorter than 12 months agreements were concluded with this Borrower the total value of which meets the criteria set out in paragraph 2.1.51 of the Ordinance of the Minister of Finance on current and periodical information provided by issuers of securities dated 19 October 2005. The total Bank’s stake because of agreements concluded with the Borrower during 12 months until 22 November 2005 (including this date) is PLN 3,760,000,000. The agreement of the highest value concluded with the Borrower: In accordance with paragraph 9.8 of the Ordinance of the Minister of Finance referred to above, the Bank informs that the object of the highest value agreement signed on 10 August 2005 is to grant to the Borrower a revolving credit under its credit account in PLN for the amount of PLN 450,000,000. The maturity date is 9 August 2007.The claim under the credit granted was secured by a declaration of submission to enforcement under the Banking Act for a total of up to PLN 675,000,000 and by an unconfirmed power of attorney in respect of a bank account with the National Bank of Poland. This is one of the agreements concluded with the Borrower during a period shorter than 12 months the total value of which meets the criteria set out in paragraph 5.1.51 of the Ordinance of the Minister of Finance on current and periodical information provided by issuers of securities dated 19 October 2005. The agreement is the agreement of the highest value concluded by the Bank and the Borrower during mentioned above period.
