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    PPF Group Transformation

    The restructuring of the PPF Group which began in the summer 2005 has resulted in the Group’s exclusive focus on retail financial services. The activities of RFS include financial services in the areas of insurance, pensions provision, consumer finance, retail banking, asset management and collective investing.

    PPF Group is an international financial group that manages assets worth approximately CZK 200 billion as of year-end 2004. The Group comprises Ceská pojistovna, Home Credit, Penzijni fond CP, eBanka and companies specializing in asset management. PPF Group is active in the Czech Republic, Slovak Republic, Russian Federation and Kazakhstan, and has actively been monitoring other markets across Eastern Europe and Asia.

    In addition to focusing exclusively on retail financial services, PPF Group has also undergone a centralization of certain strategic functions such as treasury, cost control, trading, risk management, asset management and funding. This process will contribute to a more efficient financial and operational management and will further improve the transparency of individual group companies, as well as the entire PPF Group.

    The “PPF” brand is also being adopted by the international private equity group PPF Investments on the basis of contractual arrangements. Going forward PPF Group and PPF Investments will remain independent businesses from each other in terms of assets, business activities and management.

    PPF Group is owned and controlled by the Netherlands-based company PPF Group N.V. Mr. Petr Kellner holds a 95% stake in PPF Group N.V. and the remaining 5% is held by Mr. Jiri Smejc.

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