General Meeting Of Shareholders Of LOT Polish Airlines

On June 6th, 2001, an ordinary general meeting of shareholders of LOT Polish Airlines took place. The meeting approved the financial report for 2000, the Management Board`s report on the Company`s activity within that period, as well as the report by the Supervisory Board.

The financial year of 2000 was a particularly difficult for LOT Polish Airlines. The process of privatization and joining the Qualiflyer Alliance created new opportunities for the company, while simultaneously presenting a number of difficult tasks. The amounts generated on the sale of shares purchased by the strategic investor - Swissair Group, were assigned mainly for fleet development, which was the requirement for implementing the concept of the Warsaw hub. In 2000, LOT introduced eleven new aircraft into service. The hub - launched at the beginning of the winter season - bound LOT`s connections network with the network of partner airlines from the Qualiflyer Alliance. Implementing new reservation and check-in systems, required for integration within the area of transport activity and sales, laid the foundations for introducing onto the market a new, much more appealing Frequent Flyer program, which provided LOT passengers with access to connections operated by all the partners. It also enabled implementing many considerable improvements in the fields of ticket reservation and sales, as well as the ground services. Within one year, LOT made its product much more appealing to its customers.

The General Meeting was also an occasion for the strategic investor - Swissair Group - to express their satisfaction with the smooth and fruitful co-operation with PLL LOT SA. The shareholders and management of the Swissair Group highly appreciate the enormous effort the whole LOT staff put into implementing the complicated project of hub development, as well as conducting the integration of LOT`s systems and structures with Swissair Group and the sales system of the Qualiflyer Alliance within Europe. The statement of Swissair Group CEO, Mr. Mario Conti, has been quoted on the occasion: “SwissairGroup highly evaluates the co-operation with its partner - LOT. Together with the company`s management elected for the next term of office, we wish to take advantage of any synergy opportunities resulting from the co-operation between our airlines”.

During its meeting on June 6th, 2001, held directly after the closing of the general meeting of shareholders, the company`s Supervisory Board appointed the following members of the Management Board of LOT Polish Airlines for the next term of office: Jan Litwinski as the President & CEO, as well Piotr Ikanowicz as Vice-President Finance, as well Marek Rymkiewicz as Vice-President Network, as well Wieslaw Bachorski as Vice-President Flight Operations, as well Zbigniew Lesiecki as Vice-President Infrastructure, as well Zbigniew Kiszczak as Vice-President Corporate Services.