VARIABLE RATE MORTGAGE EXAMPLES including interest rates
(valid from 28^th July 2008)

The loans below are from a major Polish bank which will lend to foreigners without restrictions, and are for illustration purposes only.

Basis of loans as at 28^th July 2008:
LIBOR 3M CHF 2.68%
LIBOR 3M EUR 4.95%
WIBOR 6M PLN 6.81%

The rates below are correct for up to 80% LTV over 20 years (or up to 90% LTV over 15 years only in PLN):

SWISS FRANC (CHF) DENOMINATED MORTGAGE

1. Mortgage amount up to 200 000 PLN:
   Interest Rate 4.53% (LIBOR 3M + BANK MARGIN 1.75%)
2. Mortgage amount higher than 200 000 PLN:
   Interest Rate 4.28% (LIBOR 3M + BANK MARGIN 1.5%)

EURO (EUR) DENOMINATED MORTGAGE

1. Mortgage amount up to 200 000 PLN:
   Interest Rate 6.7 % (LIBOR 3M + Bank Margin 1.75%)
2. Mortgage amount higher than 200 000 PLN:
   Interest Rate 5.45% (LIBOR 3M + Bank Margin 1.5%)

POLISH ZLOTY (PLN) DENOMINATED MORTGAGE

1. Mortgage amount up to 200 000 PLN:
   Interest Rate 7.96 % (WIBOR 6M + Bank Margin 1.15%)
2. Mortgage amount higher than 200 000 PLN:
   Interest Rate 7.46% (WIBOR 6M + Bank Margin 0.65%)