Bank Przemyslowo - Handlowy PBK SA

Current report no. 84/2003

Bank Przemyslowo - Handlowy PBK SA (BPH PBK) informs that Fitch Ratings, the
international rating agency, has today withdrawn its Long-term, Short-term and
Individual ratings of BPH PBK at the request of the Bank. On withdrawal, the
ratings were as follows: Long-term - 'BBB+' with Positive Outlook, Short-term -
'F2' and Individual - 'D'. At the same time, Fitch has affirmed BPH PBK's
Support rating of '2', reflecting the backing provided to the bank by its
ultimate main owner, Bayerische Hypo- und Vereinsbank (HVB), rated 'A'. The
liabilities of BPH PBK are covered by a Patronatserklaerung (declaration of
backing) from HVB.