Positive judgement of Appeal Court for the Bank

UNOFFICIAL TRANSLATION

Report 4/2011: Dismissal of the appeal against sentence dismissing the claim for repealing the resolutions No. 4 of the Extraordinary Shareholders Meeting of the Bank dated April 27, 2007 on the integration of Bank Polska Kasa Opieki S.A. with Bank BPH S.A

The Management Board of Bank Polska Kasa Opieki S.A. ("Bank") hereby informs that by the judgment of 23 February 2011 the Appeal Court in Warsaw dismissed the appeal of the Bank's shareholder against the sentence of 9 December 2009 dismissing the shareholder claim for repealing the resolution No. 4 of the Extraordinary Shareholders Meeting of the Bank dated April 27, 2007 on the integration of Bank with Bank BPH S.A. performed in way of Bank BPH S.A. spin - off by transferring a part of Bank BPH S.A. property in a form of an organized part of enterprise to Bank (spin-off by separation), and adjudicated that the plaintiff shall pay the costs of representation in the proceeding at law for the Bank.

Legal basis: § 38 section 1 point 10 of the 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.