Current reports

Current report no. 2/2009 - Change in the Bank's rating outlook

Legal basis: § 5 section 1 item 26 of the Ordinance of the Minister of Finance on current and periodical information provided by issuers of securities dated 19 October 2005 (Journal of Laws of 2005, No. 209, item 1744).

Bank Handlowy w Warszawie S.A. ("Bank") announces that on January 20, 2009 Moody's Investors Service Ltd changed the Bank’s rating outlook from stable, placing the Bank’s long-term local and foreign currency deposit ratings as well as the Bank’s financial strength rating (BFSR) under review for possible downgrade. The Bank’s short-term and long-term deposit ratings and financial strength rating remain unchanged (A2/P-1/C-).

The aforementioned change follows Moody’s rating decision for Citigroup Inc. and Citibank N.A. on January 16, 2009. More information can be found in a press release "Moody's places Citigroup's ratings (snr at A2 and Prime-1) under review for possible downgrade" available at http://www.moodys.com/.