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 hereby informs that on 22 December 2005 the Bank entered into a syndicated loan agreement with one of the PKO BP S.A. clients (the “Borrower”). The object of the agreement consists in a syndicated loan being extended to the Borrower by a consortium of eleven banks including PKO BP S.A. comprising tranche A of EUR 250 million (i.e. PLN 958,325,000) and tranche B of EUR 750 million (i.e. PLN 2,874,975,000 ), with the option to draw tranche A in EUR and USD and tranche B in EUR, USD, CZK or PLN. The participation of PKO BP S.A. in the two tranches is, respectively, EUR 22.7 million (i.e. PLN 87,015,910) and EUR 68.2 million (i.e. PLN 261,431,060). The loan term for the facility tranches A and B is five years with an option to renew for another two years. The loan interest rate is based on EURIBOR and LIBOR rates, as applicable, for tranche A of the loan, and EURIBOR, LIBOR, PRIBOR or WIBOR rates, as applicable, for tranche B of the loan, plus the Bank’s margin. Pursuant to the agreement, the margin level depends on the selected financial indicator of the Borrower. The claims under the facility have not been secured. The syndicated loan agreement provides for standard conditions precedent to be fulfilled by the Borrower for the disbursement of tranche A and tranche B of the loan. The total Bank’s stake because of the agreements concluded with the Borrower as at the date of signing of the abovementioned agreement is PLN 868.97 million. The execution of the above agreement 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 Borrower 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 Borrower: The abovementioned syndicated loan agreement is the highest-value agreement among the agreements entered into between the Bank and the Borrower 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.
