17.07.2012 Current report No. 54/2012The Management Board of  BRE Bank SA (the "Bank"), in view of the fact that on 16 July 2012 by the District Court for  the Capital City of Warsaw, 12th Commercial Division of the National Court Register registered  amendments to the Bank's By-laws under Resolution No. 25 of the 25th Annual General Meeting of BRE Bank SA of 30 March 2011, hereby announces the amendments thereto, introduced as a result of the aforesaid registration:In Article 6 (2) :i) point 3 has been deleted;         ii) the numeration of points 4-9 has been respectively changed to 3-8;   iii) the numeration of point 10 has been changed to point 9 with the following wording:"9) converting debt into the debtor's assets, under terms and conditions arranged with the debtor",           iv) the numeration of points 11-15 has been respectively changed to 10-14, and the dot at the end of point 14 has been replaced with a coma;      v) point 15 has been added with the following wording: "15) provision of certification services within the meaning of the electronic signature regulations, excluding the issue of qualified certificates used by the Bank in the activities to which the Bank is a party."In Article 22:(1) letter a) receives the following wording:"a) approving the proposals of the Management Board concerning the essential organisational structure of the Bank which shall be construed as separated structurally and organizationally basic areas of the Bank's operation reporting to particular members of the Management Board,"            ii) the dot at the end of (1), letter j) has been replaced with a coma;   iii) in (1), letter k) has been added with the following wording:"k) approval of the policy of variable items of remuneration of the persons holding managerial positions at the Bank.”iv) in (3).1, letters c), d) and e) have been deleted and the coma at the end of b) has been replaced with a dot;          v) in (3).3 letter a) receives the following wording:"a) exercising regular supervision of credit risks, market risks, operational risks and liquidity risks as well as recommending to approve the risk-bearing exposure of an entity according to parameters defined by the Supervisory Board from time to time;  vi) in (3), point 4 is added with the following wording:" 4) The Remuneration Committee, whose authority includes, among others, the following:a) reviewing principles and amounts of remuneration of Members of the Management Board, including the setting of relevant amounts,b) presenting opinions concerning approval for Members of the Management Board of BRE Bank SA to engage in competitive activity,c) issuing recommendations to the Supervisory Board regarding:  general guidelinesfor the Management Board on the level and structure of remuneration for thesenior management of the Bank and the policy of variable items of remunerationof the persons holding managerial positions at the Bank,d) monitoring the level and structure of remuneration of the senior management."3. In Article 30, (1) point 2 has been amended as follows:"2) commercial proxies – acting in accordance with the law on commercial proxy, jointly with a Management Board member, commercial proxy or proxy acting within the limits of the granted power of attorney;"        4. Article 34 has been amended as follows:"The share capital amounts to PLN 168,410,984 (one hundred sixty-eight million four hundred ten thousand nine hundred eighty-four) and is divided into 42,102,746 (forty-two million one hundred two thousand seven hundred and forty-six) registered and bearer shares with a nominal value of PLN 4 (four) per share." 5. Article 35a. is deleted.