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Warsaw Exchange Announces Annual Revision Of Composition Of WIG20 And MIDWIG Indices

Date 14/02/2003

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

In the WIG20 Index Amica will be replaced by Netia, which will be removed from MIDWIG Index. At the same time weights of shares of all index participants will be revised.

In the MIDWIG Index Amica, Polfa Kutno, Eldorado and Kruk will be added to the index portfolio. At the same time shares of Mostostal Export will be removed from the MIDWIG Index because they no longer meet the criteria of participation. Similarly as in case of WIG20 index weights of shares of all MIDWIG index participants will be revised.

These changes will be effective after close of business on Friday, March 21, 2003.

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