Intention to introduce changes of theBank'sStatute

UNOFFICIAL TRANSLATION

Report 9/2011: Intention to introduce changes of the Bank's Statute

The Management Board of Bank Polska Kasa Opieki Spółka Akcyjna ("Bank"), upon receiving positive opinion of the Bank's Supervisory Board, informs of its intention to introduce following changes of the Bank's Statute. The proposed changes shall be submitted for approval to the nearest Bank's Ordinary General Meeting.

Legal basis: § 38 section 1 point 2) of the Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information disclosed by the issuers of securities and the recognition of the information required by the law of a non-member state (Journal of Laws No 33, item 259)

Report contents

Pursuant to § 38 section 1 point 2) of the Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information [...], in relation to the intention of changing the Bank's Statute by the Ordinary General Meeting, the Bank's Management Board presents the hitherto specification of changes of the Statute along with current content of provisions.

1) replacing the present wording of § 6 point 22 of the Statute:

"22) Trading and agency in securities"

by the following wording:

"22) Trading in securities",

2) deleting the present § 6 point 25 of the Statute:

"25) Dealing in derivative instruments on own account and on order",

3) deleting the present § 6 point 28 of the Statute:

"28) Agency sale of participation units or certificates of investments in the understanding

of the law on investment funds",

4) replacing the present wording of § 6 point 31 of the Statute:

"31) Running the securities accounts"

by the following wording and mark it as the point 29):

"29) Safekeeping and registering financial instruments",

5) renumbering the present points 26 to 37 of the Statute into 25 to 35 respectively,

6) adding in § 6 of the Statute a new point 36 of the following wording:

"36) Acting as an agent for investment company."

7) adding in § 6 of the Statute a new point 37 of the following wording:

"37) Performing the following activities not classified as brokerage activity:

a) accepting and forwarding orders of selling and purchasing financial

instruments,

b) performing orders referred to in point a, on the account of the ordering party,

c) purchasing and selling financial instruments on Bank's own account,

d) offering financial instruments,

e) investment advice,

f) providing services involving execution of agreements for investments sub-issues or services or concluding and exercising other agreements of similar nature, if they involve financial instruments,

with reservation that the activities specified in letters a) - f) can only involve securities issued by the State Treasury or the National Bank of Poland or other financial instruments and bonds precluded from the organised trading system, specified in art. 39p section 1 of the act of 27 October 1994 on paid motorways and the National Road Fund."

The Bank Management Board intends to submit for Bank's Ordinary General Meeting an resolution authorizing the Supervisory Board to establish unified text of the Bank's Statue.