Company presentation April 2004 Financial Year 2003 Results and Outlook for the Future

2 TABLE OF CONTENTS Company profile in the context of the Polish banking market 2003 results Key elements of the program to improve asset quality and manage credit risk Key elements of the restructuring process for 2004 Key retail commercial drivers for 2004

3 *Provisions of 2,759, gross amount of 16,773 **Peer groups: Pekao SA, BPH PBK, Bank Handlowy, ING Bank Slaki, BZ WBK, Bank Millenium, BRE Bank *** Incl. perpetual Tier II funds, subordinated debt Consolidated Balance Sheet as of December 31, 2003 PLN million Capital adequacy; 9.13%; Tier 1 ratio: 4.9% Provisioning rate of 52.7% versus peer group** provisioning rate of 40.1% 24% of balance sheet covered by subordinated debt, KIF B.V. and BGF loans and interbank loans Negative interest earning equity KB HAS A SOLID CONSERVATIVELY PROVISIONED BALANCE SHEET WITH RELATIVELY EXPENSIVE CAPITAL STRUCTURE Assets23,942 Customer loans* (net)14,957 Investments174 Debt securities4,432 Interbank1,783 Cash822 Fixed assets970 Other assets804 Liabilities23,942 Customer deposits14,519 Interbank Capital*** Other liabilities Long term financing: KIF B. V. and BGF funding 2,939 1,756 2,974 1,754

4 THE OPERATING RESULT IN 2003 IS BELOW THE 2002 LEVEL MAINLY DUE TO THE IMPACT OF NPLs *Includes PLN 10.6 million of restructuring reserve and PLN 8.1 million of holiday payroll reserve **Buildup and update of IT and sale infrastructure Item (in PLN million) Percent of change Net interest income –Interest income –Interest expense Net fess and commissions Result on other activities Result on other operating income and expenses Net income from operating activity Personnel costs Tangible costs Depreciation of fixed assets Taxes and fees Functioning costs Operating result before provisions Provisions for credit risk Corporate income tax Amortization of goodwill and write-off of goodwill of subsidiaries Financial result of the group -9.3% +7.8% -28.4% -71.1% -7.5% +2.6% -17.1% +43.9% +33.5% -1.9% -28.1% +130% ,409.0 (507.4*) (462.6) (168.6) (37.9) (1,176.5) (1,533.3) (187.5) (81.7) (1,567) ,521.6 (494.5) (558.3) (117.2) (28.4) (1,198.4) (666.4) (29.4) (28.2) (421.3)

5 Client deposits in PLN million, end of month 12/031/032/033/034/036/038/0311/035/037/039/03 Loss for 1H 2003 Affirmation of Fitch ratings based on credit enhance- ments provided by KBC Losses for 3Q and need for provisions Share price fall, down- grade of rating KBC’s long term interest in Poland/ share issue 4Q 2003 numbers announced, share price up 10/03 Investment funds Client deposits Press announce- ments In November, due to the ‘Belka’ effect, typically deposits are flowing out of banks 1/042/043/04 Resignation of board members Profit for 1Q 2003 New CEO Loss for 2002 Pulling out of Lithuania and Ukraine Loss for Q THE MAJORITY OF DEPOSIT BALANCE DECREASES FOLLOWED ANNOUNCEMENTS OF ‘BAD NEWS’ Securities in custody

6 *Kredyt Bank 3.9%3.8% Market share Number of outlets Number of employees FTE* N/A March %1.75% Employment as percentage of assets: peer group March ,972 6,558 6,338 HO Network OPERATIONAL RESTRUCTURING STARTED IN 2003 AND KB REDUCED THE NUMBER OF BANKING OUTLETS AND EMPLOYEES 1.68%1.62% Employment cost as percentage of assets: KB -8%-9%

7 SIGNIFICANT NEW PROVISIONS WERE RAISED BOTH DUE TO NPL GROWTH AND FOLLOWING PRUDENT REASSESSMENT OF COLLATERAL PLN million Receivables from financial, non-finacial and budget sector Q Irregular loans 16,054 18,539 18,129 19,029 Provisioning rate of irregular loans 39.6%42.5%43.0%52.7%

8 KBC BANK NV HAS BEEN BACKING KB TO MAINTAIN FINANCIAL STABILITY Increase of bank’s core funds in 2003 Assistance from KBC Bank NV Providing supplementary funds Shares issue of PLN 665 mil. in 2003 –Issue price PLN –Pre-emption rights ratio 7:3 –Share of KBC Bank NV in capital after the issue: 81.40% Shares issue of PLN ~600 mil. planned for 1H 2004 –Issue price: PLN –Pre-emption ratio 7:2 –Share of KBC Bank NV in capital after the issue: 85.53% Placing of deposit securing receivables of EUR 140 mil. Loans repayment guarantee of PLN 6,314 mil. Issuance program of registered, perpetual banking securities in amount of up to PLN 800 mil.: on December 23, 2003 the bank issued debt securities of PLN 330 mil. directed to entities of KBC Bank NV Group Total financial support of KBC Bank NV amounting to PLN ~8,590 mil. results into Maintenance/increase of own funds on the level adequate to the scale of activity Securing concentration limits on appropriate levels Increase of capital adequacy ratio

9 Expected after capital increase WHEN THE NEW SHARE ISSUE IS COMPLETED IN 2Q KREDYT BANK’S CAPITAL WILL BE MORE THAN ADEQUATE TO SUPPORT FURTHER GROWTH Q Tier 1 capital Tier 2 capital Capital adequacy 14.9 % 11.0% 12.0 % 8.6%8.8% 2Q 2004 Tier 1 and Tier 2 capital PLN million Tier 1 ratio 14.2 % 8.7%7 - 8%6.6%4.9%