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Warsaw Exchange Announces Quarterly Revision Of The WIG-PL Index

Date 17/12/2003

Following the ranking, drawn up as of 12 November 2003, the composition of the WIG-PL portfolio will be changed:

WILBO will enter the WIG-PL index and HUTMEN, KABLE and TRASTYCHY will be removed from the WIG-PL index as they no longer meet the index participation criteria.

The participation of individual companies' share in the index portfolio: TPSA, PEKAO and PKN ORLEN will be limited to 10% and the banking sector to 30%.

Following the revision, the WIG-PL index will consist of 87 companies.

These changes will be effective after close of business on Friday, December 19, 2003.

The WIG-PL is the newest index launched by the Warsaw Exchange. It consists of the biggest domestic companies listed on WSE and covers 99% of the market capitalisation. Additional information of the Warsaw Stock Exchange indices, methodology, selection criteria and portfolios is available on the WSE web site at www.wse.com.pl (Market data -> Indices).