Report No. 20/2008

Legal basis:

Paragraph 39.1.7 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 Spółka Akcyjna hereby informs that on 8 April 2008 adopted the resolution and decided to submit to the General Meeting the recommendation of the dividend payments for 2007 in the amount of PLN 1,090,000,000 (PLN 1.09 per one share). The Supervisory Board will consider and give an opinion on this recommendation, pursuant to paragraph 9 item 2 of the Bank’s statutes. Pursuant to art. 395 § 2 point 2 of the Code of Commercial Companies and paragraph 34 of the Bank’s statutes this recommendation will be submitted to determinate by the General Meeting.