News

Dear Sirs and Madams,

I kindly inform you that starting with 22^nd of September 2006, I was appointed the President of PZU Ukraine, JSC and PZU Ukraine Life Insurance, JSC. The main task of my activity is to continue further development of PZU investment strategy in Ukraine and to take the leading position at Ukrainian insurance market in the near future. These processes will be accompanied by increasing investments of PZU Group in development of PZU Ukraine and PZU Ukraine Life Insurance.

Marcin Gozdek, Kamil Górecki, Robert Łoś and Jarosław Wodnicki as the Members of the Management Board will also implement the same tasks.

I am sure, that we will maintain high quality standards of services and shortly will be able to offer new insurance products that will meet the requirements and demands of the developing Ukrainian economy.

We will systematically send you all the necessary information regarding products for corporate clients. We are also ready for cooperation and will do our best to satisfy your demands and expectations.

In case of your interest in our development plans and new offers, we will give you the corresponding information with pleasure.

I would also like to remind that PZU Group is the largest Insurance Company in Poland as well as in Central and Eastern Europe. In 2005 the Company earned about 1 billion USD net profit. According to Standard & Poor’s Rating Agency, PZU SA has the highest rating («A-») among insurance companies of Central and Eastern Europe.

PZU Ukraine Insurance Group uses the experience of the best European insurance companies, strengthening in such a way its position in Ukraine. For today the Group’s network in Ukraine consists of 64 representative offices in all the regions of the country.

PZU Ukraine Insurance Company takes the leading position in the rating of «Insurance Top». It is also acknowledged to be one of the most transparent companies at Ukrainian insurance market.

On September 2006 the Company was highly estimated by the Informational Center «Expert Ukraine» for its stability: Aa (Non-life) and Aaa (Life). Its informational transparency and high level of corporate culture were also acknowledged.

Best regards,

President of the Management Board

of PZU Ukraine and PZU Ukraine Life Insurance

Ireneusz Wesołowski