Our share in the market of pension funds using external transfer agent services is 47% (in terms of assets managed by the OPFs, current as at 31 December 2007). We service three Open Pension Funds:

• Pekao OPF
• Aegon OPF
• Allianz OPF

Together with our pension funds clients, we were among the first to set up the infrastructure for open pension funds in the Polish market: since 1998 we have worked out innovative solutions for pension fund service, being subsequently the first transfer agent to consolidate the OPFCs which were acquired by Pekao Pioneer PTE S.A.

Our duties under the OPFC service include:

• keeping of fund member records;
• opening and management of personal accounts for fund members;
• conversion into investment units of moneys deposited in the accounts of fund members;
• processing of transfer payments;
• distribution of correspondence to fund members, including marketing materials designed by a pension company;
• input, administration and secure storage of data;
• submission of reports to pension companies providing information regarding, among other things, new fund memberships, contributions, or transfer payments;
• electronic and physical archiving of documentation related to fund membership;
• execution of financial transactions in a fund's bank accounts;
• calculation of commission fees for distributors;
• exchange of information between a fund and the co-operating organisations, i.e. the Social Insurance Institution, the Financial Supervision Authority and KDPW SA.

In addition, we run a call center for fund members and provide an IVR service, which is available round the clock, seven days a week, enabling fund members to inquire at any time about their current OPFC balances.