Bank's ratings correction

UNOFFICIAL TRANSLATION

Report 16/2010 P:

Correction of Current Report no. 16/2010

Management Board of Bank Polska Kasa Opieki S.A. ("Bank") informs that it has received on February 25, 2010 from Standard and Poor's correction of information, which had been received on February 23, 2010 and published on February 24, 2010 in Bank's Current Report no. 16/2010.

In result of received correction the contents of Current Report no. 16 reads as follows:

Report 16/2010: Bank's ratings affirmed

Management Board of Bank Polska Kasa Opieki S.A. ("Bank") received on February 23, 2010 information that Standard & Poor's Ratings Services has affirmed ratings of the Bank in the following way:

1) foreign currency long-term rating at "A-"

2) foreign currency short-term rating at "A-2"

3) local currency long-term rating at "A-"

4) ) local currency short-term rating at "A-2"

Stable Outlook of Bank's ratings has been sustained.

The gradation scale of ratings applied by Standard & Poor's Ratings Services

Long-term ratings - Rating of capability to pay long-term liabilities of the Bank. The gradation scale for investment level: AAA, AA, A, BBB, and for speculative level: BB, B, CCC, CC, C, DDD, DD, D. ("AAA" is the highest rating, "D" is the lowest rating).

Gradation scale of Outlook from Positive via Stable to Negative. Positive outlook means that there is possibility to upgrade the ratings in the future, Stable outlook means that the ratings will remain unchanged, and Negative outlook - that there is a possibility to downgrade the ratings.

Short-term ratings - Rating of capability to pay short-term liabilities of the Bank. The gradation scale: A-1, A-2, A-3, B, C. ("A-1" is the highest and "C" is the lowest rating).