Report No. 13/2006

Legal grounds:

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

The report:

The Management Board of Powszechna Kasa Oszczędności Bank Polski SA (“PKO BP SA”) hereby informs of the fulfilment on 24 March 2006 of all the conditions precedent provided for in the conditional agreement concluded on 24 January 2006 with Credit Suisse Asset Management Holding Europe (Luxembourg) S.A. for the sale of 45,000 registered privileged shares in PKO/CREDIT SUISSE Towarzystwo Funduszy Inwestycyjnych S.A. with its seat in Warsaw (currently PKO Towarzystwo Funduszy Inwestycyjnych S.A.) (“Towarzystwo”), having the nominal value of PLN 100.00 each. It is anticipated that the ownership of the shares will have been transferred by 7 April 2006. The share purchased represent 25% of voting rights in Towarzystwo. As a result of the acquisition of shares in Towarzystwo, PKO BP SA will own 135,000 shares representing 75% of the Towarzystwo share capital and conferring 75% of voting rights in Towarzystwo. The consideration for the shares purchased is PLN 55 million (say: fifty five million zlotys). Credit Suisse Asset Management Holding Europe (Luxembourg) S.A. is not an affiliate of PKO BP SA. The assets purchased are deemed significant because their value exceeds 20% of the Towarzystwo share capital. The shares shall be purchased with PKO BP SA own funds. The assets purchased constitute a long-time capital investment of PKO BP SA.