INVESTMENT POLICY
The BPH FIZ Capital-Protected 1 combines the potential for relatively high yields with an aim for the invested capital protection. The capital protection applied in defined 3 years periods is provided by CPPI Strategy (Constant Proportion Portfolio Insurance). 

SUBSCRIPTION DATES
The fund payments were collected by subscription for the investment certificates in the public issue in the period commencing on 10th May and ending on 4th June 2004.
Currently the investment certificates may be purchased in trading at the brokerage office.

CERTIFICATES REDEMPTION
We would like to inform that as of 1st March 2008 according to the agreement concluded on the 15th January 2008 Biuro Maklerskie Banku BPH S.A (BPH Brokerage Office PLC) seated in Cracow acts as the Offeror for the issue of BPH FIZ Capital-Protected 1 certificates.

The redemption of the certificates takes place on the last trading day in March, June, September and December. The single request for the redemption shall cover more than 10 investment certificates. It should be remembered that the certificates are the subject to trading thus may be purchased or redeemed only by the Brokerage Office of BPH.

THE TABLE OF FEES AS FROM 1ST JANUARY 2008

The fund does not guarantee reaching its investment objective including the capital protection on the level set by the investment portfolio protection strategy as well as reaching the anticipated performance. Therefore the investor must bear in mind the possibility of losing some capital invested. The investment fund performance is not equal to the return of the individual investor as the fees and the tax levied on the income from investments in the fund, particularly the tax on the capital gains shall be taken into account.