Please be informed that Treasury BondSpot Poland Market Rules have been changed by the Management Board of BondSpot S.A.

The changes are associated primarily with changes in fees for transactions concluded on the cash market by the Participants with the status of a market maker. Changing the fees is associated with expiration (at the end of this year) of a long-term promotion in the form of a reduction in fees for Primary Dealers and candidates for Primary Dealers.

In addition, changes to the Regulations are associated with:
• establishing the date of exchange rate for conversion into PLN the transactions in securities denominated in a foreign currency as well as for fees charged PLN and converted into euro (including cancellation fees), as the last business day of the calendar month (Annex P and Annex Q), and
• the separation between the date of exchange rate used for conversions and the date of the invoice.

The above mentioned changes will come into force as of 1 January 2015, if none of the Treasury BondSpot Poland participants objects to the shortening of the changes notification period until 19 December 2014.

In the opposite case, the above mentioned changes become effective as of 1 February 2015.