• Investors took up all 250 million shares in the rights offering.
  • In exercise of pre-emptive rights, investors filed 67 724 subscriptions for 247 900 587 offer shares (99.16% of the offering).
  • The other 2 099 413 offer shares were allocated to investors who filed additional subscriptions. There were 9 445 additional subscriptions filed, and the resulting reduction rate was 99.04%.
  • The first listing of rights to shares in the new issue is tentatively planned for 3 November 2009.

“We have successfully completed the rights issue,” said Zbigniew Jagiełło, CEO of PKO Bank Polski.“The results of the offering confirm that our shareholders believe in our further growth and in the future of the Bank. By entrusting their funds with us, they are giving us a vote of confidence. We will not let them down, and strengthen our position as the leader of the Polish banking industry.” The CEO added: “The results of the offering also confirm that the information campaign directed towards our shareholders was very effective with 99.16% of all pre-emptive rights exercised.” As the investors have taken up 250 million shares, it means that the Bank will obtain gross proceeds from the issue of PLN 5,125,000,000 (excluding the costs of the Offering). The proceeds will mostly be used to grow PKO Bank Polski’s lending activity in two key segments: retail and corporate. Part of the funds will also be used to continue the modernization of the Bank and to further strengthen the Bank’s financial services subsidiaries.

About PKO Bank PolskiPKO BP is the largest commercial bank in Poland and the leading bank in the Polish market in terms of total assets, deposits, customers, and the distribution network. Historically, the Bank was mainly focused on providing retail banking products and services and commenced offering corporate banking products and services on a larger scale in 2004. As of 30 June 2009, the Bank serviced approximately 7.5 million retail customers, including approximately 320,000 SME clients and 10,200 corporate clients. Approximately 640,000 Bank customers used the Inteligo electronic banking platform. The Bank also generates income from its investment operations by investing the Bank’s excess liquidity on the interbank and Polish treasury securities markets. The Group has been offering banking products and services in Ukraine since 2004 through its subsidiary KREDOBANK. In addition to products and services offered in its retail banking and corporate banking, the PKO BP Group provides specialist financial services in leasing, factoring, investment funds, pension funds, internet banking and electronic bank card payment services. Moreover, the Group carries out real estate investment and development. With 1,237 branches, 2,223 agencies, 2,197 financial intermediaries, and 2,356 ATMs, as of 30 June 2009, the Bank has the largest and most extensive distribution network for banking products and services in Poland and is able to attract and service its clients throughout Poland. The Bank employed approximately 28,794 full-time equivalent staff and employees as of 30 June 2009. As of 30 June 2009, the Group had total assets of PLN 142,258.5 million, amounts due to customers of PLN 114,115.7 million and gross loans and advances to customers of PLN 111,255.7 million, thus the PKO BP Group and simultaneously the Bank had market shares of 13.2%, 18.1%, 16.2%, respectively. For the year ended 31 December 2008, the Group generated a net profit attributable to the parent company of PLN 3,120.7 million, while in the six months ended 30 June 2009 the Group generated a net profit attributable to the parent company of PLN 1,150.6 million. The Group has a strong capital base, with a capital adequacy ratio of 11.21% as of 30 June 2009. The Bank is the second largest Bank in Poland in terms of shareholders’ equity, with a shareholders’ equity of PLN 14,011.8 million (including net profits for the first half of 2009 and the fair value adjustment of available for sale portfolio charged or credited to the revaluation reserve) as of 30 June 2009.

The following materials do not constitute an offer to sell, or a solicitation of an offer to buy, any securities. These materials are for promotional purposes only and under no circumstances shall constitute the basis for a decision to invest in the shares of Powszechna Kasa Oszczędności Bank Polski S.A. (the “Company”). This does not constitute a recommendation concerning the Rights Issue. The value of the rights and shares referred to herein can go down as well as up. Past performance is not a guide to future performance. Potential investors should consult a professional adviser as to the suitability of participating in the Rights Issue for the individual concerned. On 28 September 2009 the Polish Financial Supervision Authority approved the prospectus of the Company (the „Prospectus”) which constitutes the sole and only legally binding offering document which contains information about the Company and the securities subject to the Prospectus. The Prospectus has been published and throughout its validity it will be available electronically on the Company’s website (www.pkobp.pl), on the website of the WSE (www.gpw.pl) and on the website of Dom Maklerski PKO Banku Polskiego (www.dm.pkobp.pl), while it will be available in hard copy at the offices of the Company, in Warsaw at ul. Puławska 15. These materials are not for distribution, directly or indirectly, in or into the United States, or in other countries where the public dissemination of the information contained herein may be restricted or prohibited by law. This announcement does not constitute an offer to sell, exchange or transfer any securities of the Company and is not soliciting an offer to purchase, exchange or transfer such securities in any jurisdiction where the offer, sale, exchange or transfer is not permitted or to any person or entity to whom it is unlawful to make that offer, sale, exchange or transfer. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. Merrill Lynch International, Deutsche Bank, UniCredit CAIB Poland, and Dom Maklerski PKO BP are acting for PKO BP and no one else in connection with the Rights Issue and will not be responsible to any other person for providing the protections afforded to their respective clients or for providing advice in relation to the Rights Issue. No representation or warranty, express or implied, is or will be made by the Company, its advisers, Merrill Lynch International, Deutsche Bank, UniCredit CAIB Poland, and Dom Maklerski PKO BP or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and any reliance you place on them will be at your sole risk This announcement is being communicated in the United Kingdom only to persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Order) (all such persons being referred to as relevant persons). This announcement is only directed at relevant persons and any investment or investment activity to which this announcement relates is only available to relevant persons and will be engaged in only with relevant persons.