BW20030807002052  20030807T154401Z UTC


( BW)(BANK-PRZEMYSLOWO)(BPHD) Possibility of Bank's rating upgrade

    Business Editors
    UK REGULATORY NEWS

    WARSAW, Poland--(BUSINESS WIRE)--Aug 7, 2003--

Current report no. 49/2003

Bank Przemyslowo-Handlowy PBK SA informs that Rating Agency Moody's
has placed on review for possible upgrade the D financial strength
rating (FSR) of Bank Przemyslowo-Handlowy PBK SA (BPH PBK). The
Bank's Baa1/P-2 deposit ratings remain unchanged, underpinned by
ownership and control by the HVB Group.

The review follows on the improving results posted by BPH PBK since
the beginning of the year. It will focus on the structure of revenues,
the positive impact of restructuring efforts on the bank's cost base,
asset growth and quality improvements, risk management, and the risk
profile of the bank.

Moody's said that first half 2003 results were encouraging and seemed
to indicate that BPH PBK is in a position to begin to reap the
benefits of its merger, of its recent restructuring, of increased
credit controls, and of a growth strategy that significantly relies on
the development of retail operations.


   Short Name: Bank Przemyslowo
   Category Code: MSC
   Sequence Number: 00008133
   Time of Receipt (offset from UTC): 20030807T163356+0100

    --30--ne/uk*

    CONTACT: Bank Przemyslowo - Handlowy PBK SA

    KEYWORD: POLAND UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: BANKING
    SOURCE: Bank Przemyslowo


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