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    Internal restructuring of the PPF group: insurance-only holding created under CZI Holding NV

    Please be informed that the 100% interest in Ceska pojistovna, a.s. (CP) was transferred from PPF Group NV to CZI Holding NV (CZIH) as of December 22, 2006. CZIH is a newly established holding company which is 100% owned by PPF Group NV. Thus, CZIH is the direct sole shareholder of CP. The group of companies owned by CZIH will cover all insurance, pension, and reinsurance activities within the PPF Group.

    Furthermore, the transfer of the majority interest in PPF banka, a.s. from CP to PPF Group NV was completed on December 20, 2006. This process was also a part of setting an insurance-only holding within the PPF group: PPF banka is no more a part of the group under CZIH and is directly held by PPF Group NV (having an interest of 92,75%; the City of Prague and small shareholders hold the remaining interests).

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