Bank Przemyslowo - Handlowy PBK SA

Current report no. 102/2003

In reference to the Current report no. 91/2003 dated 8 December 2003 Bank
Przemyslowo - Handlowy PBK SA (BPH PBK) informs that according to the Banking
Supervision Commission's resolution no. 368/KNB/03 dated 3 December 2003 it will
take over assets of Sp�ldzielczy Bank Rozwoju "Samopomoc Chlopska" (SBR) from 1
January 2004.

The taking over of SBR will be effected pursuant to the art.147, section 2 of
the Banking Law.