Financial Year 2003 Results and Outlook for the Future

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

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. KB HAS A SOLID CONSERVATIVELY PROVISIONED BALANCE SHEET WITH RELATIVELY EXPENSIVE CAPITAL STRUCTURE • Consolidated Balance Sheet as of December 31, 2003 • PLN million • Assets • 23,942 • Liabilities • 23,942 • 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 • Customer loans* (net) • 14,957 • Customer deposits • 14,519 • Investments • 174 • Interbank • 2,939 • Debt securities • 4,432 • Capital*** • 1,756 • Long term financing: KIF B. V. and BGF funding • Interbank • 1,783 • 2,974 • Cash • 822 • Fixed assets • 970 • Other liabilities • 1,754 • Other assets • 804 * 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

4. THE OPERATING RESULT IN 2003 IS BELOW THE 2002 LEVEL MAINLY DUE TO THE IMPACT OF NPLs • Item (in PLN million) • 2002 • 2003 • 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 • 797.3 • 2034.6 • 1237.3 • 486.8 • 216.1 • 21.4 • 1,521.6 • (494.5) • (558.3) • (117.2) • (28.4) • (1,198.4) • 323.2 • (666.4) • (29.4) • (28.2) • (421.3) • 723.2 • 1491.2 • 768.0 • 524.8 • 154.8 • 6.2 • 1,409.0 • (507.4*) • (462.6) • (168.6) • (37.9) • (1,176.5) • 232.5 • (1,533.3) • (187.5) • (81.7) • (1,567) • -9.3% • +7.8% • -28.4% • -71.1% • -7.5% • +2.6% • -17.1% • +43.9% • +33.5% • -1.9% • -28.1% • +130% * 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

5. THE MAJORITY OF DEPOSIT BALANCE DECREASES FOLLOWED ANNOUNCEMENTS OF ‘BAD NEWS’ • Client deposits in PLN million, end of month • Investment funds • Securities in custody • Client deposits • 1/03 • 2/03 • 3/03 • 4/03 • 5/03 • 6/03 • 7/03 • 8/03 • 9/03 • 10/03 • 11/03 • 12/03 • 1/04 • 2/04 • 3/04 • Press announce-ments • Resignation of board members • Profit for 1Q 2003 • New CEO • Loss for 2002 • Pulling out of Lithuania and Ukraine • Loss for Q2 2003 • 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 • In November, due to the ‘Belka’ effect, typically deposits are flowing out of banks

6. OPERATIONAL RESTRUCTURING STARTED IN 2003 AND KB REDUCED THE NUMBER OF BANKING OUTLETS AND EMPLOYEES • Number of employees • FTE* • Number of outlets • -8% • -9% • 6,972 • 6,558 • 6,338 • HO • Network • 2002 • 2003 • March 2004 • 2002 • 2003 • March 2004 • Employment cost as percentage of assets: KB • Market share • 3.9% • 3.8% • N/A • 1.68% • 1.62% • Employment as percentage of assets: peer group • 1.76% • 1.75% * Kredyt Bank

7. SIGNIFICANT NEW PROVISIONS WERE RAISED BOTH DUE TO NPL GROWTH AND FOLLOWING PRUDENT REASSESSMENT OF COLLATERAL • Irregular loans • PLN million • Receivables from financial, • non-finacial and budget sector • 19,029 • 18,539 • 18,129 • 16,054 • 2001 • 2002 • 3Q 2003 • 2003 • 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 • Shares issue of PLN 665 mil. in 2003 • Issue price PLN 10.50 • 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 10.00 • 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 • Increase of bank’s core funds in 2003 • Total financial supportof 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 • Assistance from KBC Bank NV • Providing supplementary funds

9. WHEN THE NEW SHARE ISSUE IS COMPLETED IN 2Q KREDYT BANK’S CAPITAL WILL BE MORE THAN ADEQUATE TO SUPPORT FURTHER GROWTH • Tier 1 capital • Tier 2 capital • Tier 1 and Tier 2 capital • PLN million • Expected after capital increase • 2001 • 2002 • 3Q 2003 • 2003 • 2Q 2004 • Capital adequacy • 14.9% • 11.0% • 8.6% • 8.8% • 12.0% • Tier 1 ratio • 14.2% • 8.7% • 6.6% • 4.9% • 7 - 8%