Bank's ratings affirmed by Fitch Ratings

UNOFFICIAL TRANSLATION

Report 25/2014: Bank's ratings affirmed by Fitch Ratings, including the highest Viability Rating among rated banks in Poland

Management Board of Bank Polska Kasa Opieki S.A. ("Bank") informs that on 26th of November 2014 rating agency Fitch Ratings affirmed Bank's ratings at unchanged levels.

In the result of this decision Bank's ratings are as follows:

Long-term IDR: 'A-'; Outlook: Stable;

Short-term IDR: 'F2';

Viability Rating: 'a-';

Support Rating: '2'.

In justification among others it was stated that Bank's Long- and Short-term ratings are based on its intrinsic strength, reflected in its Viability Rating of level 'a-', which is the highest among banks rated in Poland and reflects the combination of its high capital ratios, consistently robust performance, strong franchise and conservative management.

The review and confirmation of Bank's ratings was made within the review of leading Polish banks ratings

Legal basis: section 5 subsection 1 clause 26 Finance Minister's Ordinance of 19 February 2009 re. current and periodic reports published by the issuers of securities and the rules of equal treatment of the information required by the laws of non-member states