Acquisition

RNS Number:4443T
Bank Pekao SA
18 December 2003


UNOFFICIAL TRANSLATION

(18th of December 2003)

Current report 141/2003

Purchase of Bonds from State Treasury

Management Board of Bank Polska Kasa Opieki S.A. with registered office in
Warsaw informs that on 18th of December 2003, The State Treasury of Republic of
Poland represented by Minister of Finance, Swietokrzyska Street, Warsaw,
conducted private plecement of bonds denomintated in U.S.$ within framework EMTN
Programme (Euro Medium Term Note Programme). All bonds has been subscribed by
Bank Polska Kasa Opieki S.A. on total amonut U.S. $ 400,000,000 what constitutes
PLN 1,498,600,000 (in accordance with average exchange rate of National Bank of
Poland = 3.7465).  The maturity day is set on 18th of December 2010. The coupon
will be paid as six month USD LIBOR + 0.325 per cent. per annum Floating Rate.
The issue price amounts 99.73 per 100 (one hundred) nominal value.



The State Treasury on latest EGM hold 6,873,872 shares of Bank, that represents
4.14% of the share capital of Bank and allows executing 6,873,872 votes, what
constitutes 4.14% of total votes during the Shareholder Meetings of Bank.



As the base to treat purchased bonds as assets of significant value, value of
Bank's equity was considered.



The assets has been purchased within framework of typical activities of the Bank
and has been financed from fincial resources received from deposits, issue bonds
and equity.



Legal basis:

Section 5 subsection 1 clause 1 of the Council of Ministers dated 16th of
October, 2001 - Dz. U. Nr 139, poz. 1569 with later changes

Section 4 subsection 3 clause 1 of the Trading Rules, Resolution No. 29/01 of
Supervisory Board of Centralna Tabela Ofert Joint Stock Company of October 30,
2001


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