Report No. 29/2005

Legal grounds:

Paragraph 5.1.1 of the Ordinance of the Council of Ministers of 21st March 2005 on current and periodical information provided by issuers of securities.

The report:

PKO BP SA hereby notifies that on 19th July 2005, it received information that a company under the name UKRPOLINWETSYCJE with its seat in Kiev, Ukraine has been set up. The share capital, denominated in UAH amounts to USD, 100,000 and is divided into 100 shares with a nominal value, denominated in UAH, equivalent to USD 1,000. Fifty-five of UKRPOLINWESTYCJE share capital have been acquired by PKO Inwestycje Sp. z o.o., a subsidiary company of PKO BP SA.