Bank's ratings

UNOFFICIAL TRANSLATIONReport 44/2011: Bank's long-term and short-term ratings unchanged by Fitch Ratings, support rating downgradedManagement Board of Bank Polska Kasa Opieki S.A. ("Bank") informs that Bank's long-term, short-term and viability ratings are unchanged, therefore unaffected by downgrading ratings of UniCredit S.p.A, Bank's parent company made by Fitch Ratings rating agency ("Fitch Ratings") on 20th of December 2011. Following downgrading ratings of Bank's parent company, Fitch Ratings downgraded Bank's support rating by one notch from level 1 to level 2 and removed it from Rating Watch Negative.The ratings of Bank Polska Kasa Opieki S.A.. in the result are as follows:Long-term foreign currency IDR: 'A-'; UnaffectedShort-term foreign currency IDR: 'F2'; UnaffectedViability Rating: 'a-'; UnaffectedSupport Rating: '2'Full text of information released is available on the Fitch Ratings website: www.fitchratings.comLegal basis: section 5 subsection 1 clause 26 Finance Minister's Ordinance of 19 February 2009 re. current and periodic reports published by the issuers of securities and the rules of equal treatment of the information required by the laws of non-member states