Securities Accounts Iwona Sroka, President and CEO, KDPW Warsaw, 29 November 2011

Number of Accounts Information KDPW Participants (banks and brokers) report the number of operated securities accounts on a monthly basis. The National Depository compiles information about the number of accounts operated by Participants. Data are published including a press release and detailed statistics available on the website

Number of Accounts, The number of securities accounts on the Polish market has nearly doubled in the last eight years. There were over 1,525 thousand accounts at the end of October The number of accounts has increased by 48 thousand year to date in The highest monthly increase by nearly 27 thousand accounts took place in June. Source: KDPW, based on information from Participants. For : year- end data; for 2011: end of October data.

Big Privatisations Attract New Investors The number of accounts increases sharply at the time of big privatisations. In 2010, the year of big privatisation projects, nearly 350 thousand new accounts were opened. The biggest increase in the number of securities accounts in the past years took place at the time of the IPO of PZU. The number of accounts increased by 140 thousand within one month. Increase in the number of investor accounts resulting from big privatisation IPOs Source: KDPW, companies.

Number of Accounts with Financial Institutions, October 2011 No.IDParticipant# accounts 1806Kredyt Bank S.A Ipopema Securities S.A Opera DM Sp. z o.o X-Trade Brokers DM S.A DM Pekao Bank BPH S.A BNP PARIBAS Securities Services S.A. Oddział w Polsce BM Alior Bank S.A Copernicus Securities S.A DM Banku BPS S.A Banco Espirito Santo de Investimento, S.A. Spółka Akcyjna Oddział w Polsce Bank Gospodarstwa Krajowego PKO BP S.A Bank Gospodarki Żywnościowej S.A Centralny Dom Maklerski Pekao S.A ING Securities S.A. w Warszawie Biuro Maklerskie Banku BPH S.A Bank Millennium S.A KBC Securities N.V. (S.A.) Oddział w Polsce DM PKO BP Dom Inwestycyjny BRE Banku S.A Dom Maklerski BZ WBK S.A NOBLE Securities S.A Bank Gospodarki Żywnościowej S.A. Biuro Maklerskie Dom Maklerski Banku Handlowego S.A Bank Handlowy S.A Nordea Bank Polska S.A.* UniCredit CAIB Poland S.A Raiffeisen Bank Polska S.A Dom Maklerski AmerBrokers S.A ING Bank Śląski S.A Trigon DM S.A Dom Maklerski Banku Ochrony Środowiska S.A Millennium Dom Maklerski S.A Erste Securities Polska S.A Dom Maklerski BDM S.A BM Banku DnB NORD Polska S.A BNP PARIBAS Bank Polska S.A Societe Generale S.A. Oddział w Polsce Bank Polska Kasa Opieki S.A Deutsche Bank Polska S.A BRE Bank S.A DB Securities S.A DM IDM S.A TOTAL:

Number of Accounts on Other Markets Central Securities Depositories use two approaches to information about the number of securities accounts operated by participants. Some CSDs, including KDPW, collect reports on the number of accounts operated by participants (Lithuania, Latvia, Estonia, Finland, etc.). Other CSDs do not collect such information.

Securities Accounts: International Comparison Source: ECSDA based on CSD data. End of 2010 data.

8 National Depository for Securities (Krajowy Depozyt Papierów Wartościowych) Corporate Department Tel