Current Report of 31.12.2007

Legal grounds:
Paragraph 5.1.1 of the Ordinance of the Minister of Finance dated 19 October 2005 on current and periodical information provided by issuers of securities

The report:
The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna („PKO BP”) hereby informs that on 31 December 2007 PKO BP was informed that Bankowe Towarzystwo Kapitałowe S.A. („BTK”) – PKO BP subsidiary (PKO BP owns 100% of shares in BTK), on 31 December 2007 sold 25,500 bearer’s shares in P.L. ENERGIA S.A. with its seat in Krzywopłoty near Karlino of PLN 100 value each and of total nominal value of PLN 2,550,000 for PLN 5,999,742 purchase price.

The shares were sold by BTK upon the fulfilment of all conditions provided in the sale agreement dated 22 November 2007. All conditions were fulfilled on 31 December 2007.
BTK sold the shares to P.L. Energia S.A., a company not affiliated with PKO BP.
P.L. Energia S.A. acquired shares objective to redemption of shares.

The value of the sold shares of P. L. Energia SA as shown in the BTK’s books is PLN 5,999,742.

The shares represented 20.32% of the share capital entitling to 19.69% of votes at the Meeting of Shareholders of P.L. ENERGIA S.A.

Upon this transfer, BTK holds no shares in P.L. ENERGIA S.A.

The assets sold constituted a medium –term investment of the BTK.

The assets sold were considered significant because their value exceeded 20% of the share capital of P.L. ENERGIA S.A.