Contribution in-kind assets

RNS Number:3277S
Bank Pekao SA
20 November 2003

UNOFFICIAL TRANSLATION

(20th November 2003)

Current report 128/2003

Contribution in-kind assets to subsidiary of Bank

Management Board of Bank Polska Kasa Opieki S.A. informs that on 14th of
November 2003 Extraordinary General Meeting of Centrum Kart S.A. (the Bank's
subsidiary) made the Resolution on capital increase for the total amount of PLN
1,480,648 (one million four hundred eighty thousand six hundred forty eight)
from PLN 25,302,000 (twenty five million three hundred two thousand) to PLN
26,782,648 (twenty six million seven hundred eighty two thousand six hundred
forty eight).

The increase of capital will be carried out by issuance PLN 1,480,648 (one
million four hundred eighty thousand six hundred forty eight) Series D Ordinary
Bearer Shares with the nominal value of PLN 1 (one) each. All Series D Shares
will be taken up by Bank Polska Kasa Opieki S.A. Series D Shares will be paid by
in-kind contribution for total amount of PLN 1,480,648 (one million four hundred
eighty thousand six hundred forty eight).

The book value of assets contributed in-kind amounts to PLN 1,999,533 (one
million and nine hundred ninety nine thousand five hundred thirty three) in the
Bank's books. Valuation of assets which will be disclosed in accounts book of
Centrum Kart SA amounts to PLN 1,480,648 (one million four hundred eighty
thousand six hundred forty eight). The valuation of assets, which are
contributed in-kind has been made thorough adjusted net book value method.

The contributed in kind assets comprise:

1) intangible assets,

2) technical equipment,

and they will be used in statutory activity of the Company.

The Resolution on capital increase of Centrum Kart S.A. Extraordinary General
Meeting shall come in force on the date of registration by District Court the
capital increase of company as well as connected with it amendments in the
Articles and Memorandum of Association of Centrum Kart S.A. in accordance with
Resolutions No 2 and 4 made by Extraordinary General Meeting on 31st October
2003.

Centrum Kart SA with registered office in Warsaw, Gie(3)dowa Street 5, was
registered on 2nd of September 2003 by the District Court of Capital City of
Warsaw, XIX Commercial Division with code number RHB 0000169260. The main
purpose of Centrum Kart S.A. activity is a payment card processing.


Legal basis:

Section 5 subsection 1 clause 13 Decree of the Council of Ministers dated 16th
of October, 2001 - Dz. U. Nr 139, poz. 1569 with later changes

Section 4 subsection 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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