Legal grounds: Paragraph 5.1.3 of the Ordinance of the Minister of Finance on current and periodical information provided by issuers of securities dated 19 October 2005 The report: The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (“Bank”) hereby informs that on 7 December 2007 the Bank entered into agreements with one of the PKO BP SA clients (the “Client”): bonds issue program agreements (agency agreement, deposit agreement and dealer agreement) and the agreement obliging to purchase these bonds. These agreements were concluded by a syndicate of seven banks. Banks’ syndicate will organize bonds issue program worth of PLN 6.2 billions. The interest of these bonds in based on market reference rate linked with bonds duration, coupon rate payment or the tenor for issue zero-cupon bonds. The bonds issued according to the program will be unsecured. According to the agreement obliging to purchase the bonds Bank is obliged to purchase: up to the total amount of PLN 500 millions during 18 months from the day of the conclusion of the agreement obliging to purchase the bonds. The contract provides for no contractual penalties. The total value of the agreements between the Bank and the Client and his subsidiaries during 12 months as at the date of execution of the abovementioned agreements is PLN 1,188 million. The execution of the agreement obliging to purchase these bonds constitutes grounds for the requirement to disclose the entering by the Bank into a significant agreement, since the total value of consideration under the agreements with the Client meets the criteria referred to in Paragraph 2.1.51), in connection with Para. 2.2 of the Ordinance of the Minister of Finance on current and periodical information provided by issuers of securities dated 19 October 2005. The highest-value agreement entered into with the Client: The abovementioned agreement obliging to purchase the bonds is the highest-value agreement among the agreements entered into between the Bank and the Client within a period of less than 12 months of the date of the above agreement, the total value of which meets the criteria referred to 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.
