Warsaw Exchange Announces Adjustment In WIG20 And MIDWIG Indices

The Warsaw Stock Exchange announces the following quarterly adjustment changes to the WIG20 blue-chip and MIDWIG MidCap Indices:

• In the WIG20 Index Optimus will be replaced by Debica, which will be removed from MIDWIG Index.
• Groclin and LPP will be added to the MIDWIG Index.

These changes will be effective after close of business on Friday, December 20, 2002.

Additionally, after close of business on Tuesday, November 19, 2002 BORYSZEW, GRUPAONET, IMPEXMETAL, KOGENERACJA, POLFAKUTNO, RAFAKO, RELPOL, STALPRODUKT, SZEPTEL and WILBO will be removed from the MIDWIG Index because they no longer meet the criteria of participation.

WIG20, MIDWIG and WIG indices are main Warsaw Exchange indices which cover 95% of market capitalisation and 98% of market turnover. Companies in all indices are selected based on free float and liquidity criteria. WIG20 and MIDWIG are also underlying instruments for futures contracts. Additional information on Warsaw Exchange indices methodology, selection criteria and portfolios is available at www.warsawstockexchange.com