Legal grounds: Paragraph 5.1.22 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and the conditions for regarding information required by the law of a non-member state as equivalent The report: The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (“PKO Bank Polski SA”) hereby informs that on 27 January 2010 the Supervisory Board adopted resolution appointing Mr. Jakub Papierski for the position of the Vice - President of the Bank’s Management Board, as of 1 April 2010. According to the adopted resolution Mr. Jakub Papierski is appointed for the above position for the joint term of office of the board which has started on 20 May 2008. Information about appointed member of the Management Board: Jakub Papierski Jakub Papierski (38) is a graduate of Warsaw School of Economics (SGH) and is CFA charterholder (Chartered Financial Analyst). He started his career in 1993 in a consulting firm Pro-Invest International. In 1995-96 he worked in Brokerage House ProCapital, then in Creditanstalt Investment Bank. In March 1996 he joined Deutsche Morgan Grenfell / Deutsche Bank Research dealing with the banking sector in Central and Eastern Europe. From November 2001 to September 2003 he worked at Bank Pekao SA as the Executive Director of the Financial Department, directly supervising the financial and tax policy, management information systems as well as treasury and investment portfolios, and also was a member of the Asset and Liability Management Committee of the Bank . In October 2003 he became President of the Management Board of CDM Pekao S.A ., brokerage and investment subsidiary od Bank Pekao, and since September 2006 he was also Deputy Chairman on the Supervisory Board of Pioneer Pekao TFI SA. On May 2009 was appointed by the Supervisory Board of Allianz Bank Poland SA for the position of President of the Management Board of the Bank and in October 2009 he was permitted for the position by Financial Supervision Authority in October 2009. He is also the member of the Supervisory Board of TFI Allianz Polska SA. In 2005-2009 Mr. Jakub Papierski was a Chairman of the Program Council of Academy of Leaders at the Lesław Paga’s Capital Market Foundation and remains its active member. The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna informs that Mr. Jakub Papierski stated: - since 1 April 2010 he will not conduct any business activity outside of PKO BP SA competitive to the business of PKO BP SA., - he does not participate in any business competitive in respect of PKO BP SA as a partner in a partnership., - since 1 April 2010 he will not be a member of a governing body of a company competing with PKO BP SA - he is not a member of a governing body of any other legal person competing with PKO BP SA., - he is not registered in the Register of Insolvent Debtors.
