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General Business Conditions

THIS TRANSLATION IS NOT LEGALLY BINDING

I. Initial Provisions

Article 1
Building Saving

1. Any party to conclude a written agreement on building saving with Stavební spořitelna České spořitelny, a. s. (hereinafter only "Stavební spořitelna") shall become a participant in its building saving scheme (hereinafter only the "Participant") as of its conclusion date.
2. Building saving is a purpose-orientated saving scheme involving the following operations and services:
   1. acceptance of deposits from the Participants,
   2. provision of loans to the Participants,
   3. financial support of the Participants - private individuals (hereinafter only the "State Allowance").
3. The building saving system of Stavební spořitelna is governed by:
   1. Statute No. 96/1993 of the Collection of Laws on building saving, state support of building saving and amendment of Statute No 586/1992 of the Czech National Council on income tax amended by Statute No. 35/1993 of the Czech National Council, published in the Collection of Laws, as amended (hereinafter only the "legal regulations").
   2. Individual agreements on building saving, including these general business conditions of Stavební spořitelna České spořitelny, a.s. regulating building saving procedures (hereinafter only the "Conditions").
   3. Individual agreements on provision of loans from building saving and agreements on provision of bridging loans from building saving, including relevant loan conditions of Stavební spořitelna České spořitelny, a.s. (hereinafter only the "Loan Conditions").

II. Agreement on Building Saving

Article 2
Subject Matter and Conclusion

1. The following obligations of both contracting parties represent the subject matter of their agreement on building saving:
   1. Obligations of Stavební spořitelna:
      • establishment and maintenance of a building saving account (hereinafter only the "Account") for the Participant, the number of which is identical to the number of the agreement on building saving concluded with the Participant,
      • payment of account balance interest in compliance with the agreement on building saving,
      • provision of the State Allowance under the conditions specified by relevant legal regulations,
      • provision of building saving loans to the Participant upon his/her meeting of relevant statutory terms & conditions and his/her compliance with the Conditions,
   2. Obligations of the Participant:
      • settlement of agreement conclusion fees within the specified time limit,
      • depositing of financial instalments in agreed amounts and on agreed dates,
      • immediate reporting of all changes of his/her personal details specified in the agreement on building saving, especially those affecting general compliance with statutory conditions and the Conditions.
2. Any party interested in concluding an agreement on building saving with Stavební spořitelna (hereinafter only the "Applicant") has to present a conclusion proposal (hereinafter only the "Proposal") on the official form provided by Stavební spořitelna. Here, the Applicant is to state all requested personal details, select his/her target amount, building saving alternative and the amount of monthly instalments and declare whether he/she is applying for the State Allowance or not.
3. The agreement on building saving is concluded on the date a Proposal is effectively accepted by Stavební spořitelna (in compliance with Sec. 43c and 44 of the Civil Code). Agreements on building saving may be concluded on behalf of Stavební spořitelna by its representatives authorised in writing, by its authorised employees or by authorised employees of Česká spořitelna, a.s. However, the said persons are not entitled to accept any Proposal, the target amount of which exceeds CZK 1,000,000.00, from private individuals who are not Czech citizens and from parties that are not private individuals. All such Proposals must be forwarded to the registered office of Stavební spořitelna, Vinohradská 180/1632, 130 11 Praha 3. Any agreement on building saving concluded contrary to valid legal regulations and/or the Conditions shall be regarded as invalid from the very beginning.
4. Stavební spořitelna is entitled to refuse the Applicant's Proposal.
5. Unless specified otherwise by relevant legal regulations, underage private individuals or private individuals whose legal capacity has been partially or fully limited may conclude agreements on building saving through their guardians at litem; with parties that are not private individuals entitled to conclude agreements on building saving through authorised persons. This provision also applies to other acts conducted on behalf of such Participants.
6. Agreements on building saving, all resulting and/or related legal obligations and other related and/or resulting legal relations are governed by relevant Czech legal regulations. All possible disputes concerning the rights and obligations of both contracting parties resulting from and/or related to their agreement on building saving will be heard and arbitrated exclusively by Czech courts of justice in compliance with Czech legal regulations.

Article 3
Target Amount

1. The particular amount to be saved is one of the determinative parameters of each agreement on building saving (hereinafter only the "Target Amount"). It is calculated as a summary of all instalments, State Allowance payments, interest on individual instalments and the State Allowance (less the relevant income tax) and the loan from building saving.
2. The summary of individual instalments and interest on the State Allowance and individual instalments, less the relevant income tax and the fees charged by Stavební spořitelna, forms the overall saved amount.
3. The overall saved amount with the amount of the State Allowance form the Participant's account balance.
4. The Target Amount is specified in thousands of Czech crowns. The minimum Target Amount is CZK 40,000.00.

Article 4
Building Saving Alternatives

1. The selected building saving alternative affects all main loan provision parameters, such as the length of the waiting period, the amount of repayments and the length of the repayment period.
2. Main building saving alternatives:
   1. standard,
   2. accelerated
3. Stavební spořitelna may also offer its clients other building saving alternatives. Other alternatives will be published by Stavební spořitelna primarily in the Notification of Stavební spořitelna České spořitelny, a. s., (hereinafter only the "Notification") available in individual branches of Stavební spořitelna and on the official website of Stavební spořitelna.

Article 5
Agreement Conclusion Fee

1. Agreement conclusion fees are calculated in accordance with the price list of bank transactions of Stavební spořitelna České spořitelny, a. s. (hereinafter only the "Price List"). The Price List is available at the headquarters of Stavební spořitelna, in individual branches and on the official website of Stavební spořitelna.
2. The Participant is obliged to settle the relevant agreement conclusion fee immediately, but no later than two months after the agreement's conclusion date. Any outstanding fee will be offset against the Participant's instalments until its full settlement.
3. Should the Participant increase the agreed Target Amount, he/she will be obliged to make up for the difference between the original Target Amount and the new Target Amount in accordance with the Price List. Unless paid in another way, the due sum will be offset against the Participant's account balance.
4. Once paid, neither the agreement conclusion fee (and/or target amount increase fee) nor any part of this fee is refundable (not even in the event of Target Amount reduction).

Article 6
Participant's Account

1. The Participant's account is maintained and individual deposits accepted exclusively in Czech crowns. The Participant saves in the form of regular monthly instalments specified in the agreement on building saving. Stavební spořitelna is entitled to accept one-off and irregular deposits.
2. Individual instalments will be regarded as settled as soon as credited to the Participant's account.
3. The Participant will not be entitled to deposit on his/her account any additional financial means if its balance is equal to or exceeds the agreed Target Amount. Stavební spořitelna is entitled to return any payment that might cause the Participant's account balance to exceed the agreed Target Amount as well as all payments to any account, the balance of which has already exceeded the agreed Target Amount.
4. Should the Participant's account balance be higher than the agreed Target Amount, Stavební spořitelna will be entitled - after notifying the Participant in advance - to cancel their agreement on building saving.
5. Should the balance on the Participant's account exceed the agreed Target Amount at the end of saving period, Stavební spořitelna will charge the Participant an additional fee, as if the Target Amount were increased in compliance with Section 3, Article 5, of the Conditions, offsetting this fee against the Participant's financial means deposited therein. This provision in no way affects Sections 3 and 4 of this Article.

Article 7
Interest

1. The balance of the Participant's building saving account is subject to an annual interest rate specified in his/her agreement on building saving. All interest-related conditions are specified in the Notification.
2. Stavební spořitelna is allowed to grant preferential (higher) interest rate, the exact amount of which is published in its Notification, to the Participant. Stavební spořitelna is entitled to grant such preferential interest to selected groups of Participants.
3. Stavební spořitelna is entitled to change interest rates unilaterally (even repeatedly) 6 years after the conclusion date of individual agreements on building saving under the conditions specified by relevant legal regulations, with new interest rates published by Stavební spořitelna in the Notification. Each Participant will be informed in writing of the bank's exercise of the aforementioned right.
4. The Participant shall be receiving interest on the financial means deposited on his/her account from the date the Participant's initial instalment is settled in full until the day preceding the day on which the account balance is paid out to the Participant or transferred to another account. Interest is credited to the Participant's account regularly on 31 December of the given calendar year and on the day the account balance is paid out to the Participant or transferred to another account. Interest is not paid out to the Participant separately.

Article 8
State Allowance

1. Stavební spořitelna arranges provision of the State Allowance to the Participant under the conditions specified in the relevant legal regulations.
2. The Participant is obliged to inform Stavební spořitelna in writing of any change of the conditions governing the provision of the State Allowance in accordance with relevant legal regulations. Until Stavební spořitelna receives any such information, it is understood that the situation remains unchanged and the Participant is still entitled to receive the State Allowance.
3. The Participant undertakes to return any State Allowance obtained contrary to relevant legal regulations to Stavební spořitelna within the time limit specified by Stavební spořitelna in writing in its request for return of State Allowance.

Article 9
Agreement Modification

1. The following modification of agreements on building saving will be executed by Stavební spořitelna at the Participant's written request:
   1. Target Amount increase,
   2. Target Amount reduction,
   3. change of building saving alternative,
   4. change of monthly instalments,
   5. application for provision/cancellation of the State Allowance,
   6. other changes.
2. Should the agreement on building saving be modified in accordance with Subsections a) - c), Section 1, of this Article, the Participant's right to be granted a loan from building saving will be postponed. The modified agreement on building saving may be re-assessed in terms of possible provision of a loan from building saving in compliance with Article 16 of the Conditions no earlier than at the end of the period specified in the Notification, but no later than six months after the given modification is agreed by both contracting parties.
3. Agreements on building saving may be modified only before the end of the saving period. The Participant is entitled to apply for provision/cancellation of the State Allowance (see Subsection e), Section 1, of this Article) only once every calendar year.

Article 10
Transfer of Rights and Obligations Resulting from Agreements on Building Saving

1. The Participant's rights and obligations resulting from his/her agreement on building saving may not be transferred to another party.
2. If approved by Stavební spořitelna in writing, the Participant's entitlement to be granted a loan from building saving may be transferred to his/her next of kin, on condition that such a person is also a Participant. In accordance with the Act on Building Saving the next of kin includes relatives in a direct line, siblings and spouses. The loan from building saving is then granted upon the terms specified in the agreement on building saving of the Participant whose entitlement to a loan from building saving has been transferred to his/her next of kin.

Article 11
Termination of Agreements on Building Saving

Agreements on building saving are terminated in the following way:

• full repayment of the provided loan from building saving,
• written agreement concluded by and between the Participant and Stavební spořitelna,
• expiration of cancellation period,
• withdrawal from the agreement on building saving,
• withdrawal from the agreement on loan from building saving,
• dissolution of the Participant - corporate body,
• death of the Participant - private individual (unless specified otherwise by relevant legal regulations),
• as a result of other circumstances defined by relevant legal regulations.

Article 12
Cancellation of Agreements on Building Saving

1. The Participant is entitled to cancel his/her agreement on building saving at any time in writing, except when granted a loan from building saving or a bridging loan. The Participant must inform Stavební spořitelna of his/her decision to cancel the agreement on building saving on a special form featuring all required essentials. The form must be signed by the Participant and his/her identity verified by an authorised employee of Stavební spořitelna, its representative authorised in writing, an authorised employee of Česká spořitelna, a. s. or a notary.
2. Should the Participant wish to end his/her agreement on building saving after meeting the State Allowance conditions specified by relevant legal regulations, without asking for a loan from building saving, he/she will also be obliged to cancel it in accordance with the previous Section.
3. Stavební spořitelna is entitled to cancel the agreement on building saving in the following cases:
   1. due to reasons resulting from legal regulations or due to the Participant's failure to meet the agreed contractual conditions,
   2. under the circumstances defined in the agreement on building saving,
   3. as a result of possible order of receivable payment from account.
4. The cancellation period for both contracting parties is three calendar months, starting on the first calendar day of the month following the month in which a cancellation note is delivered by one contracting party to the other. If the agreement on building saving is cancelled, the Participant will be paid the entire balance of his/her account.
5. The saved amount will be made available to the Participant on the next working day following the end of the aforementioned cancellation period in compliance with Statute No. 124/2002 of the Collection of Laws on payment systems as amended, on condition that the Participant meets all his/her terms and conditions. If all relevant statutory conditions are duly met, the Participant will also receive the State Allowance credited to his/her account.
6. Both the Participant and Stavební spořitelna will be entitled to retract their cancellation in writing on condition that such an action is approved by the other contracting party in writing and that the relevant account balance has not been paid as yet. Otherwise, the agreement on building saving concluded by the parties will be terminated at the end of the cancellation period.

Article 13
Withdrawal from the Agreement

1. Stavební spořitelna is entitled to withdraw from an agreement on building saving in the following cases:
   1. further continuation of its contractual relationship with the Participant might damage its rightful interests; Stavební spořitelna is not obliged to inform the Participant of its withdrawal reasons,
   2. the Participant fails to settle the agreement conclusion fee defined in Section 2, Article 5, herein in full and within the specified period of time.
2. Possible withdrawal of Stavební spořitelna from the agreement on building saving in no way affects its right to claim the agreed contractual penalty, compensation for all damages resulting from the breach of the agreement or relevant legal regulations, settlement of all services already provided to the Participants and punitive interest on all receivables based on the cancelled agreement on building saving.

Article 14
Participant's Death

1. In the event of the Participant's death, all rights and obligations resulting from and/or related to his/her agreement on building saving are transferred to his/her surviving spouse.
2. If the deceased Participant is not survived by any spouse, the rights and obligations resulting from the agreement on building saving will become subject to inheritance proceedings only on condition that the heirs agree in writing that such rights and obligations will be assumed by one of them.
3. If no agreement is reached by the Participant's heirs in compliance with Section 2 of this Article, the agreement on building saving will expire upon the Participant's death, with only the overall saved amount, including interest and a proportional part of the State Allowance, subject to inheritance procedures.

III. Loans from Building Saving

Article 15
Basic Provisions

1. The maximum sum of loans from building saving that can be granted to the Participants will be calculated as the difference between their Target Amount and the balance on their account as of the day the relevant agreement on loan from building saving is delivered to the registered office of Stavební spořitelna.
2. Loans from building saving are provided by Stavební spořitelna exclusively for the purpose of financing of the Participants' housing needs. If such a loan is granted before the statutory State Allowance conditions are met, the Participant's housing needs must be financed also from the overall saved amount and State Allowance.
3. The housing to be financed from the loan from building saving granted by Stavební spořitelna must be located within the territory of the Czech Republic. Housing needs are defined by relevant legal regulations.

Article 16
Loan Provision Terms

1. Stavební spořitelna conducts its assessment of individual agreements on building saving under the conditions defined in Section 2 herein once a month, for each calendar month on its last calendar day (hereinafter only the "Assessment Date").
2. The Participant may be granted a loan from building saving by Stavební spořitelna only on condition that he/she meets all of the following terms simultaneously:
   1. at least 24 months have elapsed from the conclusion date of his/her agreement on building saving;
   2. the overall saved amount, including all State Allowance contributions credited to the Participant's account, is equal to at least 40 per cent of the Participant's Target Amount as of the relevant monthly Assessment Date; Stavební spořitelna is entitled to change the aforementioned minimum amount as a part of its commercial strategy, publishing this information in the Notification;
   3. the score rating of agreements on building saving (hereinafter only the "score rating") exceeds or is equal to the level specified by Stavební spořitelna in its Notification for the period in which the Participant's assessment is carried out.
3. The following formula shows score rating calculation (the summary of the overall saved amount, the State Allowance and the interest factor is divided by four per mille of the Participant's Target Amount):
    
   BH = ( UČ + SP + ÚF ) / ( 0,004 x CČ )
    
   Legend:
   BH = score rating
   UČ = saved amount
   SP = State Allowance advance payments credited to the Participant's account
   ÚF = interest factor
   CČ = target amount

The interest factor represents the multiple of all individual amounts of the interest on instalments and the State Allowance credited to the Participant's account as of the Assessment Date. The value of the said multiple is specified in the Notification. When score rating is calculated, any interest for which the Participant qualifies as of the Assessment Date will be regarded as already credited to his/her account even though the relevant transaction has not been completed yet. If offering a new building saving alternative, Stavební spořitelna will also specify the relevant new interest factor.

Article 17
Advice on the Possibility of Provision of a Loan from Building Saving

1. When the Participant meets all contractual terms specified in Section 2, Article 16, of the Conditions, he/she is advised by Stavební spořitelna in writing of his/her qualification to be granted a loan from building saving (hereinafter only the "Advice").
2. Unless the Participant forwards a written loan application within the specified period of time to Stavební spořitelna, his/her right to be granted the loan from building saving shall expire. However, the Participant will be entitled to apply for a loan from building saving in writing at any time afterwards. The Participant's application will be assessed on the next Assessment Date following its delivery to Stavební spořitelna.

Article 18
Provision and Utilisation of Loans from Building Saving

1. Particular conditions regulating provision of loans from building saving are specified in individual agreements on provision of loans from building saving.
2. Should the Participant wish to take advantage of the opportunity to receive the loan from building saving, Stavební spořitelna will conclude with the Participant an agreement on provision of a loan from building saving under the following conditions:
   1. the Participant demonstrates his/her ability to repay such loan, including interest and all other appurtenances, within the agreed period of time;
   2. the Participant demonstrates that his/her loan is secured in accordance with relevant terms of Stavební spořitelna;
   3. the Participant demonstrates that the loan (and possibly also the saved amount and State Allowance, if granted before the statutory conditions regulating provision of the State Allowance are met) will be used for the intended purpose in compliance with Article 15 of the Conditions.
   4. the Participant presents all documents necessary for the conclusion of the agreement on loan from building saving.
3. The Participant will be given six months to meet the conditions regulating conclusion of agreements on provision of loans from building saving specified in the previous Section of this Article following the Assessment Date defined in Section 1, Article 16, of the Conditions. Stavební spořitelna is entitled to extend the said time limit in exceptional cases. Should the Participant fail to present the required documents during the extended period, Stavební spořitelna will be entitled to reject his/her loan application.
4. Stavební spořitelna is obliged to prepare the agreement on provision of a loan from building saving within two months following the Participant's presentation of all necessary documents at the latest on condition that all other terms & conditions are duly met.
5. Should the Participant fail to meet the conditions regulating provision of loans from building saving as defined in Sections 2 and 3 of this Article, with Stavební spořitelna rejecting his/her loan application as a result, the Participant will be entitled to continue saving, unless his/her agreement on building saving is terminated in compliance with Article 11 of the Conditions.
6. The Participant may start drawing the provided loan from building saving only after the balance on his/her account is paid out, with the Participant's entitlement to the State Allowance governed by relevant legal regulations.
7. After all conditions regulating provision of loans from building saving in compliance with Section 2, Article 16, of the Conditions as well as all conditions regulating provision of the State Allowance are duly met, the Participant will be able to use the balance on his/her account independently of his/her loan. The Participant will then be entitled to conclude an agreement on provision of a loan from building saving at any time during the specified reservation period. The reservation period starts on the day the Participant receives the balance of his/her account, with its duration specified by Stavební spořitelna in the Advice.

Article 19
Loan Security

1. In order to ensure that the loan from building saving granted to the Participant is duly repaid, Stavební spořitelna may require that various security instruments, such as right of lien, third party's guarantee, bank account balance or deposit blocking, etc., be implemented.
2. Stavební spořitelna may require that any Participant applying for a loan from building saving take out life insurance or credit insurance securing his/her obligations resulting from and/or related to the relevant agreement on provision of a loan from building saving.
3. If real estate or chattels are pledged, Stavební spořitelna may require that the Participant insure such chattels or real estate for the entire debenture period. Such a requirement may represent one of the terms of the contractual relationship of both parties or be perceived as a security instrument.
4. All payments from insurance agreements concluded in accordance with Section 2 and 3 of this Article must be pledged for the benefit of Stavební spořitelna. They will be used to secure the bank's receivables resulting from the relevant agreement on provision of a loan from building saving.

Article 20
Interest and Loan Repayment

1. Loans from building saving are subject to annual interest rate specified in relevant agreements on building saving, agreements on provision of loans from building saving or agreements on provision of bridging loans. Interest is paid on the overall outstanding amount from the day the Participant draws its first part.
2. All individual loan repayment conditions are specified in the relevant agreement on provision of a loan from building saving, with loan individual instalments also including the agreed interest. The Participant is usually obliged to settle his/her first instalment by the end of the calendar month following the month in which the Participant draws the loan.
3. The calculation method of the minimum amount of monthly instalments is included in the Advice.
4. The Participant is entitled to execute irregular repayments of the loan from building saving provided by Stavební spořitelna above the limit agreed in the relevant agreement on provision of a loan from building saving under the terms and conditions specified therein.
5. Stavební spořitelna is entitled to withdraw from the agreement on provision of a loan from building saving and request immediate repayment of the provided loan, including the State Allowance, interest, penalties, expenses and outstanding amounts resulting from and/or related to the provided loan in the cases defined in the agreement on provision of a loan from building saving or in relevant legal regulations.
6. Possible withdrawal from the agreement on provision of a loan from building saving in no way affects the right of Stavební spořitelna to claim the agreed contractual penalty, compensation for all damages resulting from the breach of the agreement on provision of a loan from building saving or relevant legal regulations, payment for all services already provided to the Participant and settlement of the agreed punitive interest on all receivables based on the cancelled agreement on provision of a loan from building saving.

IV. Bridging Loans

Article 21
Bridging Loans

1. Stavební spořitelna may help the Participant finance his/her housing need before the Participant qualifies for a loan from building saving as defined in Article 16 of the Conditions by granting the Participant a bridging loan. The maximum sum of bridging loan granted by Stavební spořitelna may not exceed the overall Target Amount.
2. The Participant may apply for the bridging loan in writing only. The agreement on provision of a bridging loan concluded by and between Stavební spořitelna and the Participant must also be in written form.
3. When all terms & conditions defined in Article 16 herein are met, the Participant's receivable resulting from his/her agreement on building saving expires, being offset against the receivable of Stavební spořitelna resulting from the bridging loan granted to the Participant. The remaining part of the receivable of Stavební spořitelna resulting from the bridging loan granted to the Participant expires at the same moment, while being replaced by a receivable resulting from the loan from building saving of the same value. Individual rights and obligations of the Participant and Stavební spořitelna, including those concerning the newly established receivable, are governed by relevant provisions of the agreement on provision of a bridging loan and a loan from building saving.
4. Bridging loans are governed by adequate provisions of the Conditions regulating loans from building saving.

V. General and Concluding Provisions

Article 22
Communication and Forwarding of Written Documents

1. All written documents forwarded by Stavební spořitelna will be regarded as duly delivered if sent to the address reported by the Participant in writing to Stavební spořitelna as his/her last postal address. If returned to Stavební spořitelna as undeliverable, written documents will be regarded as duly delivered upon the date of their return to Stavební spořitelna.
2. Individual written documents forwarded by the Participant to Stavební spořitelna will be regarded as effectively delivered when received at its registered office.
3. The Participant is obliged to immediately report to Stavební spořitelna all changes of his/her permanent address, delivery address, registered address (applies to all Participants that are not private individuals), residence address (applies to all Participants who are not Czech citizens), loss or theft of personal identification documents, as well as all other details included in his/her agreement on building saving, agreement on provision of a loan from building saving or agreement on provision of a bridging loan, and all other facts that could in any way affect general compliance with the statutory conditions regulating the provision of the State Allowance. Stavební spořitelna bears no liability for possible damages resulting from the Participant's breach of the aforementioned obligations.
4. Czech is the official language of communication at Stavební spořitelna.

Article 23
Account Maintenance

1. The Participant is obliged to pay Stavební spořitelna for the maintenance of his/her account and for other provided services in accordance with the Price List valid as of the last day such services have been provided, but no later than on 31 December of the current calendar year. The Participant hereby acknowledges and agrees that Stavební spořitelna is entitled to change its Price List, while also obliged to publish its updated version in a suitable manner.
2. All fees are charged to the Participant's account on an ongoing basis or at the end of the given calendar year, but no later than on the day the Participant's account is closed, with their overall amount offset against the Participant's closing account balance.
3. The Participant and Stavební spořitelna have agreed to rule out mutual offset of liabilities (in compliance with sec. 361, Statute No. 513/1991 of the Collection of Laws, the Commercial Code, as amended) resulting from their contractual relationship.
4. Stavební spořitelna shall send the Participant a statement of account at least once a year, on 31 March of the current calendar year at the latest, indicating its balance as of 31 December of the previous calendar year. If no written objections are received by Stavební spořitelna from the Participant within two months following the statement's delivery date, all details specified therein will be regarded as correct. The same conditions apply to account statements concerning building saving loans and bridging loans.

Article 24
Concluding Provisions

1. Any change of these Conditions is subject to approval of the Ministry of Finance.
2. Stavební spořitelna is subject to bank supervision conducted by the Czech National Bank.
3. Should Stavební spořitelna lose its bank licence or be dissolved, relevant legal regulations shall be applied to its relationship with the Participant.
4. These Conditions were approved by the decision of the Ministry of Finance of 2 January 2004, reference number: 353/112076/2003, effective as of 2 January 2004.
5. These Conditions apply to all Participants who concluded an agreement on building saving on or after their effective date.

Stavební spořitelna České spořitelny, a. s.

Friedrich Weiss, MBA
Deputy Chairman of the Board of Directors
and Deputy Director General

Ing. Jiří Plíšek
Chairman of the Board of Directors
and Director General

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