Change of recommendation of the Management Board respecting the amount of dividend

Friday, 16 May, 2008
Report no. 32/2008

The Management Board of KGHM Polska Miedź S.A. hereby announces that on 16 May 2008 it resolved to change the proposal of the Management Board of the Company to the General Shareholders’ Meeting concerning the appropriation of profit for financial year 2007 dated 4 March 2008 (current report no. 15/2008 on the same day). 
In accordance with the proposal accepted on 16 May 2008, the Management Board of the Company will propose to the General Shareholders’ Meeting payout of a dividend of PLN 1 800 000 000.00, i.e. PLN 9.00 per share. 
The higher level of the dividend recommended is due to the anticipated postponement of investments planned for 2008, mainly due to the extended process of acquiring the shares of Polkomtel S.A. from TDC. 
The right to dividend date and the dividend payment date proposed to the General Shareholders’ Meeting by the Management Board of the Company and published in the current report no. 28/2008 dated 6 May 2008 remain unchanged. 
The proposal of the Management Board was positively evaluated by the Supervisory Board of the Company. 
A final decision respecting appropriation of the profit of KGHM Polska Miedź S.A. for 2007 will be made by the Ordinary General Shareholders’ Meeting of KGHM Polska Miedź S.A. which will take place on 26 June 2008. 

Legal basis: §39, sec. 1 point 7 of the Decree of the Minister of Finance dated October 19, 2005, regarding current and periodic information disclosed by the issuers of securities (Journal of Laws from 2005 No. 209, item 1744).