22.06.2010 Current Report No. 63/2010The Management Board of BRE Bank SA ("the Bank") hereby announces that the Bank concluded the Price Establishment Memorandum of Understanding (“the Memorandum of Understanding”) added to the Agreement on Underwriting the offer of TAURON shares with the Treasury of the Republic of Poland, TAURON and the syndicate of banks and investment companies on June the 22nd, 2010. The template thereof is an appendix of the Agreement on Underwriting concluded on June the 2nd, 2010 (“the Sub-issuance Agreement”). The value of the sub-issuance liability of the Bank under the Memorandum of Understanding amounts to PLN 467,517,220.50. The total value of the Sub-issuance Agreement and the Memorandum of Understanding amounts to PLN 467,517,220.50 plus the fee of the Bank acting as sub-issuer. Underwriter’s fee has been established on the arm's length basis.Pursuant to the Memorandum of Understanding of June the 22nd, 2010, the Bank undertook to purchase up to 820,205,650 TAURON shares with face value amounting to PLN 1 per share for the total sum of PLN 467,517,220.50 as part of the public offering of sale of TAURON shares, if any.The Bank shall discharge the above obligation, if Institutional Investors invited to subscribe to TAURON shares do not subscribe to the number of TAURON shares specified in the invitation or subscribe to and pay for a number of TAURON shares lower than the one specified in the invitation to Institutional Investors.No penalties are provided for in the Memorandum of Understanding.The value of the Memorandum of Understanding exceeds 10% of the equity of the Bank.