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 2006 Bank entered - with one of the banks operating in Poland - into buyback debt liability agreement of the dept which belongs to this entity against one of Bank’s client (“Client”). This dept belongs to mentioned above entity because of multicurrency revolving credit agreement signed by a syndicate of banks, with the total amount of EUR 800 million (PLN 3,053 million). The subject of the buyback agreement is buyback debt liability with the amount of EUR 20 million (i.e. PLN 76.3 million), with the possibility of drawing in USD. According to the buyback agreement Bank became a part of credit agreement signed by a syndicate of banks. The loan term for the facility is 29.11.2011. Credit has two options allowing the contractual period to be extended for one further year. The loan interest rate is based on EURIBOR rates or LIBOR rates, plus the Bank’s margin. Pursuant to the agreement, the margin level depends on the selected financial indicator of the Client. The claims under the facility have not been secured. The total value of the agreements concluded between the Bank and the Client during 12 months till the date of execution of the abovementioned agreement is PLN 1,129 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 concluded by Bank 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 syndicated loan agreement, presented in current report nr 51/2005, is the agreement of the highest value among the agreements entered into between the Bank and the Client within the 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.
