Information about resolution on liquidation of a subsidiary

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”) advises that it has received information that on February 23, 2011 the Meeting of Shareholders of „Pensjonat Dychów” Sp. z o.o. with its registered office in Dychów (the „Subsidiary”) decided to dissolve and liquidate the Subsidiary. Ms. Beata Niedobecka became a liquidator.

The Subsidiary is PGE's dependent entity under the accounting regulations binding on PGE, however in view of the insignificance of its balance sheet total and revenues, the Subsidiary is not consolidated in the PGE’s financial statements. The shareholder of the Subsidiary is PGE Energia Odnawialna S.A., which is subsidiary of PGE (PGE Energia Odnawialna S.A., as the only shareholder, has 100% of Subsidiary's shares and 100% of the total votes).

Legal ground: § 5 section 1 p. 24 and § 30 p. 18 of the Regulation of the Polish Minister of Finance of February 19, 2009 on current and periodic information published by issuers of securities and on conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state. (Dziennik Ustaw of 2009 No. 33, item 259 as amended).