Current report No. 6/2016 of March 4, 2016

Changes to the composition of theCompany's Management Board and Supervisory Board

Legal basis (selected in ESPI): Article56.1.2 of the Act on Public Offering - current and periodical information

The Management Board of Polski HoldingNieruchomości S.A. (the "Company" or "Issuer") hereby informs that underresolutions adopted on March 4, 2016, the Supervisory Board appointed:

1. Maciej Jankiewicz for the position ofPresident of the Management Board, as of March 7, 2016.2.Zbigniew Kulewicz for the position of Vice-President - Member of theManagement Board for Managing Property Assets, as of March 7, 2016.3.Piotr Staroń for the position of Member of the Management Board forFinance, as of April 1, 2016.

The Company's Supervisory Board alsodecided to end the recruitment procedure for the positions of:

1. President of the Management Board,2.Vice-President - Member of the Management Board for Managing PropertyAssets,3. Member of theManagement Board for Finance,4.Member of the Management Board for Investment,

without selecting a candidate for theposition of Member of the Management Board for Investment.

Maciej Jankiewicz has an MA degree in Lawof the University of Warsaw. He also completed a postgraduate course inreal estate management and brokerage at the University ofEntrepreneurship and Regional Development in Falenty, and postgraduatecourse "Construction and investment projects" in English at the RealEstate University in Warsaw. Mr. Jankiewicz has both theoretical andpractical knowledge of management, including law and economics,confirmed among others by passing the exam for candidates for members ofsupervisory boards of companies with the Treasury's stake, and a licenseof the Ministry of Infrastructure in the area of real estate managementand brokerage. From 2012 till now, Mr. Jankiewicz ran his own businessin the area of real estate management and brokerage. In 2010-2011, heserved as Vice-President of the Supervisory Board of the housingassociation "Widzewskie TBS" in Łódź. In 2007-2009, he was Member of theSupervisory Board of "Kaskada" Sp. z o.o. in Warsaw. In 2007-2008, heworked as Manager of POC Dipservice (currently Polski HoldingNieruchomości S.A.), and in 2006, he was President of the ManagementBoard of T.O.N. Agro S.A. (currently part of Polski HoldingNieruchomości S.A.) and President of the Supervisory Board of AgromanSp. z o.o. In 2004-2006, he served as Director of the MunicipalFinancial Office for Education, and in 2001-2003 he held managerialpositions at Centralny Zarząd Poczty Polskiej.

Mr. Jankiewicz declared that starting fromthe day of commencing his work, he will have no conflicts of interests,he will carry out no competitive business outside the Company and hewill conduct no activities at the Company's competitors, as member ofgoverning bodies of a company or as a shareholder in a civil lawpartnership or other partnership, and he will not participate in theactivities of any competitive incorporated entity as a member of itsgoverning body. Mr. Jankiewicz also declared that he is not entered intothe Register of Insolvent Debtors, maintained under the National CourtRegister Act of August 20, 1997 (Journal of Laws of 2007 No. 168, item1186, as amended).

Under the resolution adopted by theCompany's Supervisory Board on March 4, 2016, appointing Mr. Jankiewiczfor the position of President of the Management Board ends the period ofdelegating Member of the Supervisory Board, Izabela Felczak-Poturnicka,to temporarily perform the duties of the President of the ManagementBoard.

From December 21, 2015, Zbigniew Kulewiczserved as Member of the Supervisory Board, and on December 21, 2015 wasdelegated by the Supervisory Board to temporarily act as Vice-Presidentof the Management Board - Member of the Management Board for ManagingProperty Assets for a period not exceeding 3 months. On March 4, 2016,Mr. Kulewicz resigned from the function of Member of the Issuer'sSupervisory Board.

From 2011 till now, Mr. Kulewicz has beenPresident of the Management Board of "Nasz Dom" Sp. z o.o. From 2005 to2008, he was employed at PKO BP S.A., fulfilling the followingfunctions: Managing Director of the Administration Center (where hisresponsibilities included managing the bank's real estate and movableproperty), Advisor to the President of the Management Board, Coordinator(Co-author) of the nationwide program of modernizing bank buildings. In2005, when serving as President of the Management Board of the housingassociation "TBS Bemowo Sp. z o.o." in Warsaw, he supervised theconstruction of a residential estate. In 2002-2004, he worked as BranchOffice Director at Wojdyła Budownictwo Sp. z o.o. The results of theBranch Office significantly contributed to the company's victory in thenationwide ranking of the most dynamic companies Gazela Biznesu 2003(Business Gazelle 2003). Until 2002, he was Liquidator and Receiver ofstate-owned enterprises. For many years, until 2000, he worked at theLower Silesian Voivodeship Office in Wrocław, where he was responsiblefor ownership supervision and ownership changes in many enterprises, andfor managing enterprise privatization projects. Mr. Kulewicz is agraduate of the Faculty of Mining of the Wrocław University ofTechnology. He has also completed a series of training courses inenterprise management, company liquidation and reconstruction, financesfor managers, and business negotiations. He has authored and co-authorednumerous studies for the Minister of Treasury on the economic conditionand privatization possibilities of enterprises, and on restructuringprograms.

Mr. Kulewicz declared that starting fromthe day of commencing his work, he will have no conflicts of interests,he will carry out no competitive business outside the Company and hewill conduct no activities at the Company's competitors, as member ofgoverning bodies of a company or as a shareholder in a civil lawpartnership or other partnership, and that he will not participate inthe activities of any competitive incorporated entity as a member of itsgoverning body. Mr. Kulewicz also declared that he is not listed in theRegister of Insolvent Debtors, maintained under the National CourtRegister Act of August 20, 1997 (Journal of Laws of 2007 No. 168, item1186, as amended).

Piotr Staroń is a graduate of theUniversity of Insurance and Banking in Warsaw. He also has a degree ofMaster of Arts in Financial Services of Bournemouth University.. Mr.Staroń has participated in developing and implementing businessstrategies in such areas as financial, ICT, web, commercialization andinvestment services in the real estate market. He has many years ofexperience in supervising and managing the operations of economicentities, and in designing and implementing organizational structuresand operational procedures in these areas. From 2014 till now, Mr.Staroń served as President of the Management Board of MaNA Solid InvestSp. z o.o., and from 2013 till now, he served as President of theManagement Board of NASK 4Innovation Sp. z o.o. In 2010-2012, he workedas Financial Advisor at PGE Energia Jądrowa S.A./EJ 1 Sp. z o.o., and in2009-2011, he was Director of the Investment Department and Member ofthe Risk Mitigation Committee at Polskie Towarzystwo Ubezpieczeń S.A. Hegained his professional experience also at Bank Turystyki S.A., KredytBank S.A., Fundusz Składkowy Ubezpieczenia Rolników, TotalizatorSportowy Sp. z o.o., Dom Inwestycyjny Banku Współpracy Europejskiej S.A.and PKP CARGO S.A.

Mr. Staroń declared that starting from theday of commencing his work, he will have no conflicts of interests, hewill carry out no competitive business outside the Company and he willconduct no activities at the Company's competitors, as member ofgoverning bodies of a company or as a shareholder in a civil lawpartnership or other partnership, and he will not participate in theactivities of any competitive incorporated entity as a member of itsgoverning body. Mr. Staroń also declared that he is not listed in theRegister of Insolvent Debtors, maintained under the National CourtRegister Act of August 20, 1997 (Journal of Laws of 2007 No. 168, item1186, as amended).

Legal basis: Article 5.1.22 and Article28 of the Regulation of Minister of Finance of February 19, 2009 oncurrent and periodic information published by issuers of securities andthe conditions of recognizing information required by the regulations ofnon-member states as equivalent.