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: Paragraph 49.1.7 of the Ordinance of the Council of Ministers on current and periodical information provided by issuers of securities dated 16 October 2001 The report: The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna hereby informs that on 29 March 2005 adopted the resolution and decided to submit to the General Meeting the recommendation of the dividend payments for 2004 in the amount of PLN 1 000 000 000 (PLN 1 per one share). Pursuant to art. 395 § 2 point 2 of the Code of Commercial Companies and paragraph 35 of the Bank’s statutes this recommendation will be submitted to determinate by the General Meeting after being submitted to considerate and give an opinion by the Supervisory Board (pursuant to paragraph 9 item 2 of the Bank’s statutes). The recommendation on dividend payments for year 2004 is consistent with the dividend policy described in “Rules of dividend payments for the accounting years 2004-2006” given in PKO BP SA shares’ prospectus. The recommendation on dividend payments is higher then 40% because of the amount of solvency ratio guarantying the safety of Bank’s activity.
