Report No. 38/2006/C

Legal basis:

Paragraph 5.1.3 of the Ordinance of the Minister of Finance on current and periodical information provided by issuers of securities dated 19 October 2005

The report:

Referring to the current report no. 38/2006 the Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna informs that the value of the sold shares of Wawel Hotel Development Sp. z o.o. with its seat in Cracow as shown in the Bank’s books is PLN 13,865,000.