Report No. 1/2012

Legal basis:

Paragraph 38.1.10 of the Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the laws of a state which is not a member state

The report:

The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (the “Bank”) hereby informs that on 4 January 2012 the Bank was advised on valid end of proceedings to the declare the invalidity of resolutions: - No. 1/2011 adopted by the Bank's Ordinary General Meeting of 30 June 2011, on the election of the Chairman of the Ordinary General Meeting; - No. 7/2011 adopted by the Bank's Ordinary General Meeting of 30 June 2011, on the distribution of the profit earned by the PKO Bank Polski SA in 2010; - No. 8/2011 adopted by the Bank's Ordinary General Meeting of 30 June 2011, on the payment of dividend for the year 2010, as a result of the Circuit Court in Warsaw orders to return of a statement of claims because of the claimant did not supplement the formal defects. The proceedings mentioned in the Current Report No. 54/2011 dated 11 August 2011 are validly ended so there was not any declaration of the invalidly of aforementioned resolutions of the Bank's Ordinary General Meeting of 30 June 2011.