Re Agreement

RNS Number:7701T
Bank Pekao SA
31 December 2003


UNOFFICIAL TRANSLATION

(31 December 2003)


Current report 146/2003: Amendment to the loan agreement with Agora SA

The Management Board of Bank Polska Kasa Opieki S.A. with its seat in Warsaw
informs that on 30 December 2003 Bank executed annex no. 2 to the long-term loan
agreement up to 500,000,000 PLN entered into on 5 April 2002 with Agora SA with
its seat in Warsaw. Bank informed about the loan agreement in the current report
no. 18/2002.

The annex entered into on 30 December 2003 extended that drawing period of the
loan by a year, i.e. up to 31 March 2005. In connection with this extension the
repayment dates have also been changed - in accordance with the annex the
principal of the loan will be repaid in 16 equal quarterly installments in the
period starting on 31 March 2005 and ending on 31 December 2008. Also,
additional security was established for the loan by way of registered pledges on
17 protective rights or future protective rights resulting from trademarks
related to the magazines published by Agora SA, a conditional transfer of rights
resulting from certain agreements related to the magazines published by Agora SA
as well as a conditional transfer of certain copyrights related to the magazines
published by Agora SA.


Legal basis

 Section 5 subsection 1 clause 3 of the Council of Ministers dated 16th of
October, 2001 - Dz. U. Nr 139, poz. 1569

Section 4 subsection 3 clause 3 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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