Current Report of 15.12.2009

Legal basis:

Art. 70.1 of the Act of July 29, 2005 on public offering and the conditions for introducing financial instruments to the organized trading system and on public companies

The report:

The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (“PKO BP S.A.”) hereby informs that on 15 December 2009 received from Bank Gospodarstwa Krajowego (“BGK”) the notification, that as a consequence of the registration of PKO BP S.A. share capital increase BGK holds number of shares causing the crossing of the threshold of 10% of the votes at the General Meeting of PKO BP S.A.

According to this notification BGK holds 128,102,731 series D shares of PKO BP S.A. constituting 10.2482 % of the share capital of PKO BP SA and giving right to exercise 128,102,731 votes at General Meeting of PKO BP S.A., which corresponds to 10.2482 % of the total number of votes at the General Meeting.

According to BGK notification, before the registration of the increase of PKO BP S.A. share capital BGK didn’t hold any of PKO BP S.A. shares. BGK doesn’t intend to further increase its share in PKO BP S.A. number of votes during 12 months since this notification