Jiří Kunert - CEO

UniBanka

London, December 5th, 2002

2nd UCI INVESTOR DAYFocus on New Europe

2

AGENDA

Slovakia: Key Highlights

UniBanka: Key Figures

Key projects and strategies

Zivnostenska Banka

3

THE ECONOMIC PORTRAIT OF SLOVAKIA

Year 2001 Slovakia

Population, mln

Inflation rate, %

5.4

7.1

Per Capita GDP, Eur 4,133

2002E

Real GDP growth, %

Ref. interest rate

3.9

7.7

Inflation rate, % 3.4

2003E

4.1

6.3

8.4

Ref. interest rate, % 7.6

2004E

3.8

6.0

5.9

S&P country rating BBB-

Slovakia: an OECD member and has been invited to join NATO and EU in 2004

Political stability has been achieved, with a market-friendly and stable government

Growing profitability of corporate sector driven by advancements in restructuring and by higher inflow of FDI

Low per capita income reflecting low labour costs Highly open economy dependent on international

development

Investments and exports are the main drivers of growth

Historically low inflation achieved through control of administrated prices, with liberalisation expected starting from 2003

Interest rates are decreasing to withstand appreciation of the currency

Source: UniBanka estimates

4

BANKING SECTOR IN SLOVAKIA SHOWS SIGNIFICANT IMPROVEMENTS AFTER RESTRUCTURING AND PRIVATISATION

2001

8.6

11.3

9.6

10.9

2002E

9.3

12.4

2003E

9.8

13.0

(Loans+Deposits)/GDP

Relatively high level of banking penetration (almost 95%) compared to CEE region

Over 90% of banking sector controlled by foreign banking groups

High concentration – TOP 3 banks having over 50% of assets and 60% of sector deposits

103%

EU

203%

Slovakia

Loans growth, %*

Deposits growth, %

2004E

9.8 9.1 8.1 7.4Rate on Loans(1), %

4.8 4.1 3.3 3.0Rate on Dep.(1), %

5.0 5.0 4.8 4.4Spread (1), %

(1) End-of-period average Banking System data; growth calculated in local currency, * net of restructuring process

Loans growth revival after period of credit-crunch in 98-00

High deposits growth partially distorted due to privatisation proceeds inflow

External interest rates highly dependent on central bank policy

192

EU Slovakia

580

Branches per mln inhabitants

Slimming of margins reflecting high competition on loans market

Source: UniBanka estimates

5

AGENDA

Slovakia: Key Highlights

UniBanka: Key Figures

Key projects and strategies

Zivnostenska Banka

6

Branches 62Employees 921Customers 109,000

o/w retail+SME 104,000o/w corporate 5,000

Cost/income 67.6%ROE 10.6%Deposits Mkt Share 3.3%Loans Mkt Share 5.9%

Total Assets 772.6Deposits 594.6Loans 397.3Deposits/loans 149.7%Total Revenues 30.5Net Income 3.54

UNIBANKA: THE MID-SIZED BANK IN SLOVAKIA

Euro mln, consolid. figures as at Sep 02, IAS

Slovakia

10 Branches

52 Sub-branches

Strong position in corporate funding with 8% market share

Variety of highly competitive products’ offer for both retail and corporate segments

UniBanka is the 4th bank in Slovakia as for distribution, offering a high growth potential especially in SMEs, Affluent and Private segments

7

Operating costs +15.8% y/y highly impacted by: one-off re-branding costs (approx. Euro 1.2 mln) investments into expansion network project increasing deposit insurance fund fees (from 0.25% to 0.75%) growth engineering project costs

9M02 UNIBANKA RESULTS: IMPROVING NET INCOME (+16.4%Y/Y) THANKS TO GOOD REVENUES WELL COUNTERBALANCING RISING COSTS

(Euro mln, IAS)

Total Revenues*

9M02

30.57.1%

9M01

28.5

9M02

3.5

16.4%

9M01

3.1

* Including extraordinary items

9M02

4.8

1.3%

9M02

21.9

19.5%

9M01

4.7

9M01

18.3

9M02

3.8

-30%

9M01

5.4

Net Interest Income

Net Commissions and Fee Income

Other Operating Income

Very good increase of Net Income y/y (+16.4%) thanks to a 7.1% rise in total revenues driven by a substantial growth of NII (+19.5%) mainly due to increased volumes (loans +23%; deposits +14.2%) and tax optimisation. NII’s growth impacted by introduction of swaps/FRAs.Other operating income decreased due to lower contribution of FX income

Net IncomeOperating Costs

9M02

20.615.8%

9M01

17.8

Loan loss prov.

9M02

5.910.3%

9M01

5.4

8

Total Assets

23.8%

19.7%

8.9%

15.1%

Net Loans

26.4%

21.2%

Deposits

Erste Bank

IntesaBCI

Slovenská sporiteľňa

Všeobecná úverová banka

Major Shareholders

12.3% 15.1% 12.6% Reiffeisen ZBTatrabanka

7.6% 4.1% 7.6% KBCČSOB

3.6% 6.6% 2.7% Bank Austria AGHVB Slovakia

3.7% 5.4% 3.4% UniCredito ItalianoUniBanka

2001 2001 2001 2002

GOOD MARKET SHARE IN LOANS AMONG MID-SIZED PLAYERS

9

Net DOUBTFUL LOANS

Doubtful* and NPLs** as % of Total Net Loans

6.7%

2001 9M02

5.7%5.3%5.1%

81.4%

2001 9M02

77.9%77.9% 76.0%

Coverage ratios

Net Doubtful/

Total Net LoansNet NPLs/ Total Net Loans

On Gross Doubtful Loans

On Gross NPLs

Net NPLs

22.7 -1.2%

12.9%17.8

Dec. 2001

% ch. on

Dec.’01(Euro mln)

22.4

20.1

9M 2002

Careful lending policy focusing on state controlled entities (relying on state guarantees, e.g.: Railways, Electricity provider, etc.) and low risk profile foreign companies

Selective lending with conservative risk assessment

Enhancing scoring and monitoring systems

ASSET QUALITY UNDER CONTROL WITH CAUTIOUS COVERAGE RATIOS

* Doubtful Loans = doubtful, substandard and loss loans

** NPLs = loss loans

10

AGENDA

Slovakia: Key Highlights

UniBanka: Key Figures

Key projects and strategies

Zivnostenska Banka

11

KEY STRATEGIC PROJECTS

Growth Project Engineering

Network Restructuring and Expansion

Human resources dept. and commercial divisions working together to identify and hire highly talented staff to be trained to develop the selling activity

Focus on Strategic Segments

Introduction of new business divisional model for branch management (with directors for retail and corporate)

Expansion of network: opening of 17 new outlets and a call centre in 2002, additional 8 new outlets and 3 private centres in 2003

Retail: Affluent, Private and SMEs as drivers of future growth (development of new service models and products)

Corporate: Focus on mid sized companies

To support improvement of business profitability and risk management

ALM, Profitability and Credit Risk reporting available in the first months of 2003

New MIS Project (Management Information System)

12

AGENDA

Slovakia: Key Highlights

UniBanka: Key Figures

Key projects and strategies

Zivnostenska Banka

13

THE ECONOMIC PORTRAIT OF THE CZECH REPUBLIC

Year 2001Czech

Republic

Population, mln

Inflation rate, %

10.3

4.7

Per Capita GDP, Euro 6,147

2002E

Real GDP growth, %

Ref. interest rate

2.5

2.8

Inflation rate, % 1.9

2003E

3.7

3.5

2.0

Ref. interest rate, % 5.2

2004E

4.0

4.0

2.8

S&P country rating A-

Czech Republic: growing open economy benefiting from historically developed industrial base and good location in the heart of Europe close to Germany

Uninterrupted strong flows of FDI supported by a stable and strengthening local currency

Ongoing restructuring of the economy driven by private sector and tough competition on export markets

Stable unemployment

GDP growth strongly dependent on German/European economy performance

Flat/falling rate of inflation

Low level of interest rates (25–50 bp below Euro area) boosting: - consumer demand- housing construction- corporate borrowing

Source: Zivnostenska Banka estimates

14

ZIVNOSTENSKA BANKA: A FURTHER STEP IN UCI’SPRESENCE IN NEW EUROPE

UCI SIGNED AN AGREEMENT FOR THE ACQUISITION OF 85.16% OF ZIVNOSTENSKA BANKA

Customer Loans

Deposits

700

1,235

Total Revenues 33

Total Assets 1,661

8th Czech Bank ranked on total assets (market share of 2.8%), with a leading position in the affluent and private banking segments

Excellent asset quality (NPL/Gross loans at 2%)

800 employees, 85,000 retail customers and 2,000 corporate clients

Close of the deal expected by end 2002 (subject to authorizations)

Net Income 4.5

Shareholders Equity 86

Dec 2001

Distribution network: 8 branches and 19 agencies located in all the major towns of the country

Euro mln

15

Annexes

16

Interest margin (incl. div.)

Net non interest income

Total revenues

Operating costs (incl. dep.)

Net operating income

Net income

Net attributable income

- of which: Staff costs

Dec. 00

22.38

13.99

36.36

11.54

-26.13

9.98

Net loan loss provisions 35.44

(Euro mln, IAS)

Taxes (1) 2.24

24.82

Dec. 01

24.36

13.56

37.92

14.42

3.54

9.76

8.16

2.72

23.49

Ch. % 2001/2000

8.85

-3.06

4.27

24.95

113.54

-2.17

-76.97

21.61

-5.35

Sep. 01

18.30

10.19

28.49

10.67

3.05

7.34

5.36

2.27

17.82

Sept. 02

21.87

8.63

30.50

9.87

3.54

7.94

5.91

0.41

20.63

19.53

-15.34

7.06

-7.51

16.40

8.22

10.30

-81.71

15.78

Ch. % Sept. 02/Sept. 01

Other provisions 0 0 0 0 0 0

Extraordinary income/loss 0 0 0 0 0 0

Pre-tax profit/loss -23.89 6.26 126.20 5.31 3.96 -25.47

Minorities 0 0 0 0 0 0

-26.13 3.54 113.54 3.05 3.54 16.40

UNIBANKA9M02 CONSOLIDATED INCOME STATEMENT

(1) Statutory tax rate for legal entities: 25% (29% until the end of 2000)

17

Cash and deposits with Central Banks

(Euro mln, IAS) Sept. 01

109.23 213.89 71.88

Sept. 02

-34.19 -66.39

Ch. % Sept. 02/Sept. 01

AS

SETS

Loans due from:323.03 336.81 397.29 22.99 -100.0- Customers

- Banks 0 0 0 - -

Dec. 01Ch. %

Sept. 02/Dec. 01

Trading Securities 215.58 124.18 273.22 26.73 120.02

Fixed assets 23.9 24.6 25.45 6.5 3.44

Other assets 3.21 7.22 4.76 48.16 -34.06

LIA

BIL

ITIE

S

674.96TOTAL ASSETS AND LIABILITIES 706.71 772.61 14.47 9.32

Deposits:520.7 555.19 594.66 14.20 7.11- Due to Customers

- Securities in issue 18.8 18.8 18.8 0 0

Reserve fund for possible loan losses 0 0 0 0 0

Specific reserves 0 0 0 0 0

Other liabilities 14.69 11.65 14.04 -4.42 20.50

- Due to Banks 79.15 79.73 100.12 26.49 25.57

Minority interest 0 0 0 0 0

Shareholders’ equity 41.62 41.33 44.99 8.09 8.85

Subordinated debt 0 0 0 0 0

UNIBANKA9M02 CONSOLIDATED BALANCE SHEET