Securities Accounts

Iwona Sroka, President and CEO, KDPW

Warsaw, 29 November 2011 Number of Accounts Information

KDPW Participants ( 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 www.kdpw.pl

Number of Accounts, 2004-2011

Number of accounts operated by KDPW Participants The number of securities accounts on the Polish 1 600 000 1 525 471 1 477 419 market has nearly doubled in the last eight years. There were over 1 132 602 1,525 thousand 1 028 962 996 565 accounts at the end of 908 926 850 513 853 333 October 2011. 800 000 The number of accounts has increased by 48 thousand year to date in 2011.

0 The highest monthly 2004 2005 2006 2007 2008 2009 2010 2011 increase by nearly 27 thousand accounts took place in June.

Source: KDPW, based on information from Participants. For 2004-2010: year- end data; for 2011: end of October data. Big Privatisations Attract New Investors

Increase in the number of investor accounts resulting The number of accounts from big privatisation IPOs increases sharply at the time of big privatisations. In 2010, the year of big Increase in # Individual investor Com- IPO value privatisation projects, accounts subscriptions Year pany (PLN bn) nearly 350 thousand (thou.) (thou.) new accounts were

opened. 26.9 5.4 168 2011 JSW 140.0 8.0 250 2010 PZU The biggest increase in the number of securities 98.5 1.2 323 2010 GPW accounts in the past 82.0 4.2 230 2010 Tauron years took place at the time of the IPO of PZU. 81.0 7.9 206 2004 PKO BP The number of accounts 20.0 2.6 63 2005 PGNiG increased by 140 thousand within one month.

Source: KDPW, companies. Number of Accounts with Financial Institutions, October 2011

No. ID Participant # accounts 1 806 Kredyt S.A. 592 2 811 Ipopema Securities S.A. 1 3 812 Opera DM Sp. z o.o. 24 4 814 X-Trade Brokers DM S.A. 7 686 5 815 DM Pekao 190 602 6 817 Bank BPH S.A. 479 7 818 BNP PARIBAS Securities Services S.A. Oddział w Polsce 379 8 821 BM S.A. 65 393 9 822 Copernicus Securities S.A. 189 10 833 DM Banku BPS S.A. 3 563 11 837 Banco Espirito Santo de Investimento, S.A. Spółka Akcyjna Oddział w Polsce 1 12 840 Bank Gospodarstwa Krajowego 3 13 855 PKO BP S.A. 1 749 14 858 Bank Gospodarki Żywnościowej S.A. 71 15 901 Centralny Dom Maklerski Pekao S.A. 215 604 16 902 ING Securities S.A. w Warszawie 57 388 17 905 Biuro Maklerskie Banku BPH S.A. 30 756 18 906 Bank Millennium S.A. 6 729 19 911 KBC Securities N.V. (S.A.) Oddział w Polsce 10 541 20 912 DM PKO BP 139 958 21 914 Dom Inwestycyjny BRE Banku S.A. 296 084 22 915 Dom Maklerski BZ WBK S.A. 128 896 23 916 NOBLE Securities S.A. 24 202 24 920 Bank Gospodarki Żywnościowej S.A. Biuro Maklerskie 30 837 25 922 Dom Maklerski Banku Handlowego S.A. 9 205 26 924 Bank Handlowy S.A. 14 368 27 928 Bank Polska S.A.* 4 28 929 UniCredit CAIB Poland S.A. 306 29 936 Raiffeisen Bank Polska S.A. 197 30 942 Dom Maklerski AmerBrokers S.A. 3 685 31 945 ING Bank Śląski S.A. 3 219 32 950 Trigon DM S.A. 106 889 33 954 Dom Maklerski Banku Ochrony Środowiska S.A. 52 934 34 956 Millennium Dom Maklerski S.A. 62 367 35 959 Erste Securities Polska S.A. 229 36 965 Dom Maklerski BDM S.A. 30 869 37 966 BM Banku DnB NORD Polska S.A. 7 904 38 968 BNP PARIBAS Bank Polska S.A. 12 39 974 Societe Generale S.A. Oddział w Polsce 225 40 979 Bank Polska Kasa Opieki S.A. 4 849 41 980 Polska S.A. 301 42 986 BRE Bank S.A. 1 892 43 995 DB Securities S.A. 5 563 44 998 DM IDM S.A. 8 726 TOTAL: 1 525 471 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

Number of accounts in selected CSDs (thou.) 1600 1517

1200 1200

800

468 400 255 127 126 41 66 0

Source: ECSDA based on CSD data. End of 2010 data. National Depository for Securities (Krajowy Depozyt Papierów Wartościowych) Corporate Department Tel. +48-22-537-91-29 www.kdpw.pl

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