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Warsaw Exchange Announces Adjustments In WIG And WIRR indices

Date 18/12/2002

The Warsaw Stock Exchange announces the following quarterly adjustment changes to the WIG and WIRR SmallCap Indices:

Mitex, 7Bulls, Ropczyce and Olawa will be removed from the WIG Index and Bedzin, Ponarfeh, Pekabex, Piasecki and Beefsan will be removed from the WIRR Index, because they no longer meet the criteria of participation.

Poligr, BCZ and Emax will be added to the WIG Index and Ropczyce, Olawa, Novita, Wandalex, Suwary, Bielbaw, Milmet, Ferrum, Gant, Pekpol, Ampli, Polna and Budopol will be added to the WIRR Index.

Both WIG and WIRR Index will consist of 77 companies.

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

WIG Index is one of the main (after WIG20 and MIDWIG) Warsaw Exchange's index. It consists of the biggest companies on WSE and covers 99% of the market capitalization. WIRR Index is dedicated to small companies and covers 1% of the market capitalization. Additional information of the methodology of WSE indices, selection criteria and portfolios is available at www.warsawstockexchange.com