Bond Sub-Fund. The Sub-Fund invests up to 100% in bonds and other debt
instruments with a maturity of more than 1 year, save that the Sub-Fund may temporarily invest up to 50%
in short-term bonds and money market instruments. The Sub-Fund invests at least 66% of funds in
securities of Polish issuers and with regard to the remaining part it may seek investment opportunities
in foreign markets. The Sub-Fund may invest up to 100% of the assets value in corporate bonds.