Material syndicate agreement of banks with entity

UNOFFICAL TRANSLATION

Report 67/2010: Material syndicate agreement of banks with an entity from the energy sector

Management Board of Bank Polska Kasa Opieki Spółka Akcyjna ("Bank") informs, that on the 9th November, 2010 the Bank signed together with a consortium of other banks two agreements with an entity from energy sector ("Issuer") based on which bond issue programme ("Programme") to the total amount of PLN 10,000,000,000.00 is established, i.e .

Bond Purchase Commitment Agreement valid till 31st October 2013

and

Bond Issue Programme Agreement valid for 36 months since signing and maturing not later then 8th November 2013.

Under the Programme, the Bank will act as the agent, paying sub-agent, sub-depositary and the underwriter, as a result of which, it may purchase bonds in the amount not higher than PLN 2,000,000,000.00.

The criterion for considering the agreement as a significant one is the amount of bonds that may be taken up by the Bank and which may exceed 10% of the Bank's equity

Legal basis:

Section 5 subsection 1 clause 3 of the Finance Minister's Ordinance of the 19th of February 2009 regarding 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.