Registration of changes in share capital of the company ZANAM-LEGMET Spółka z o.o.

Wednesday, 25 May, 2005

The Management Board of KGHM Polska Miedź S.A. announces that on 13 May 2005 a change in share capital was registered by the Regional Court for Wrocław-Fabryczna in Wrocław, Section IX (Economic) of the National Court of Registration for the company ZANAM-LEGMET Spółka z o.o. with its registered head office in Polkowice (an indirect subsidiary of KGHM Polska Miedź S.A.). The share capital was increased by PLN 18 435.0 thousand through the issuance of 368 700 shares having a nominal value of PLN 50.00 per share. The share capital of ZANAM-LEGMET Spółka z o.o. after registration amounts to PLN 30 469.9 thousand and is divided into 609 397 shares of PLN 50 per share.

After registration of this change in share capital, Dolnośląska Spółka Inwestycyjna. (a subsidiary of KGHM Polska Miedź S.A.) owns 609 397 shares, representing 100% of the share capital of ZANAM-LEGMET Spółka z o.o. and granting the right to the same number of votes at the general shareholders meeting.

The total number of votes arising from all issued shares after registration of this change in share capital is 609 397.

These shares were covered by:

1. cash in the amount of PLN 16 410.0 thousand (328 200 shares), and

2. a contribution in kind in the form of debtors due, arising from a repayable payment to the equity of DSI S.A. from ZANAM-LEGMET Spółka z o.o. in the amount of PLN 2 025.0 thousand (40 500 shares). The carrying amount of these debtors is PLN 2 025.0 thousand.

These assets were acquired at their nominal value.

The carrying value of the acquired assets in the accounts of DSI S.A. is PLN 18 435.0 thousand.

These assets were acquired using the internal funds of DSI S.A.

The assets acquired are of a long term, equity investment nature.

The criteria used for describing the assets as significant is that the financial assets acquired by DSI S.A. represent over 20% of the share capital of ZANAM-LEGMET Spółka z o.o.