Polish Leasing Association

Warsaw, January 2008

Leasing market in Poland 2008

2

Data collected from the following 38 companies:

• Bankowy Fundusz Leasingowy• BISE Atechnet Leasing• BNP Paribas Lease Group• BPH Leasing (HVB Group)• BRE Leasing (Commerzbank Group)• BZ WBK Leasing (AIB Group)• Caterpillar Financial Services Poland• DaimlerChrysler Services Leasing• De Lage Landen Leasing• Deutsche Leasing Polska• Europejski Fundusz Leasingowy (Credit

Agricole Group)• Fidis Leasing Polska• Fortis Lease Polska• Getin Leasing• Grenkeleasing• Handlowy-Leasing• IKB Leasing Polska• Immoconsult• ING Lease (Polska) (ING Group)

• Kredyt Lease• LHI• Masterlease Polska• Millennium Leasing (Banco • NL Leasing Polska• NOMA 2• Nordea Finance Polska • ORIX Polska• PEKAO Leasing• Raiffeisen Leasing Polska • Renault Credit Polska• Scania Finance Polska• SEB Leasing POlska• SG Equipment Leasing Polska• SGB-Trans-Leasing PTL• Siemens Finance• VB Leasing Polska (Volksbank Group)• VFS Usługi Finansowe Polska• Volkswagen Leasing Polska

3

Estimated total net value of movables & real estateleased 1997 – 2007 (bln PLN)

0

5

10

15

20

25

30

35

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Movables Real estate

32,647

4

Value of leasing outstandings in Polandat 31 December 2007

11,129

37,501

0

5

10

15

20

25

30

35

40

Movables Real estate

(estimated value – 48,63 bln PLN)

5

Structure of leasing outstandings in Polandat 31 December 2007

Portfolio structure

77,12%

22,88%

Movables Real estate

Movables structure

29,86%

1,58%

2,01%

0,77%

21,22%

44,60%

Road transport vehicles excl. passenger cars

Passenger cars

Machines and industrial equipment

Computers and business machines

Rail, ships, aircraft

Other

6

Leasing share in investments in Poland 2000-2007

13,80

17,30

6,79 6,32 7,57

10,00

11,97 12,37

0

2

4

6

8

10

12

14

16

18

20

2000 2001 2002 2003 2004 2005 2006 2007

%

estimated

7

Movables leasing share in investments on fixed assets

(except buildings) in Poland 2000-2007

33,84

27,02

12,1311,05

14,67

20,2722,05

22,92

0

5

10

15

20

25

30

35

40

2000 2001 2002 2003 2004 2005 2006 2007

%

estimated

8

Total net value of movables leased in years 1997 – 2007 (in bln PLN)

29,6

19,6

13,812,3

10,5

7,56,3

7,86

4

8

0

5

10

15

20

25

30

35

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

9

Movables analysis by type of assetsin years 1999 – 2007

0

10

20

30

40

50

60

70

80

Road transport vehicles Machinery and industrialequipment

Computers and businessmachines

Ships, rail, aircraft Other movables

1999 2000 2001 2002 2003

2004 2005 2006 2007

10

Movables market structure 2006 vs 2007

2006 - 19,79 bln PLN

61,80%

32,70%

2,90%

0,70%

1,90%

Road transport vehiclesMachinery and industrial equipmentComputers and business machinesShips, rail, aircraftOther movables

2007 - 29,6 bln PLN

65,7%

29,9%

2,0%

1,6%

0,8%

Road transport vehiclesMachinery and industrial equipmentComputers and business machinesShips, rail, aircraftOther movables

11

Dynamics of new portfolio movables in Poland 2007 vs 2006

49,60%

59,20%

36,80%

29,60%

0,30%

-5% 5% 15% 25% 35% 45% 55% 65%

Movables

Road transportvehicles

Machines andindustrial equipment

Computers andbusiness machines

Ships, rail, aircraft

12

Share of top 10 companies in movables leasing market in 2007

(estimated total net value – 29,6 bln PLN)

BZ WBK5,8%

Millennium Leasing

6,6%

BRE Leasing8,0%

Raiffeisen Leasing10,8%

EFL12,6%

Other33,9%

Fortis Lease3,9% Bankowy Fundusz

Leasingowy4,3%

BPH Leasing4,4%

VB Leasing5,4%

SG Equipment4,3%

13

Estimated total net value of road transport vehicles leased in years 1997 – 2007 (in million PLN)

12220

19452,8

8850

350032002000

4500 4300 5100

7600

8800

0

5000

10000

15000

20000

25000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

14

Analysis by type of assets in road transport vehicles leasing market in 2007

(estimated total net value – 19,45 bln PLN)

15

Share of top 10 companies in road transport vehicles leasing market in 2007

(estimated total net value – 19,45 bln PLN)

Bankowy Fundusz Leasingowy

4,2%

VB Leasing5,6%

BPH Leasing4,6%

BZ WBK5,6%

Volkswagen Leasing

3,6%

Fortis Lease 3,4% Millennium Leasing

6,4%

BRE Leasing9,2%

Raiffeisen Leasing11,6%

Other31,8%

EFL14,0%

16

Estimated total net value of passenger cars leased in years 1997-2007 (in million PLN)

600

1450

4350

7311,8

2800

25

700

4035175

30

0

1000

2000

3000

4000

5000

6000

7000

8000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

17

Share of top 10 companies in passenger cars leasing market in 2007

(estimated total net value – 7,31 bln PLN)

EFL19%

Other24%

Raiffeisen Leasing14%

BRE Leasing10%

Volkswagen Leasing8%

BZ WBK6%

Masterlease Polska6%

Millennium Leasing2%

Daimler-Chrysler Leasing

4%

VB Leasing3%

BPH Leasing5%

18

Estimated total net value of machines and industrial equipment leased in years 1997-2007 (in million PLN)

1900 2100 22001900

24502850

6478

8861,5

4260

2000

1200

0

1000

2000

3000

4000

5000

6000

7000

8000

9000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

19

Analysis by type of assets in machinery and industrial equipment leasing market in 2007 (estimated total net value – 8,86 bln PLN)

20

Share of top 10 companies in machines and industrial equipment leasing market in 2007

(estimated total net value - 8,86 mld PLN)

Other32,7%

Raiffeisen Leasing9,9%EFL

10,7%

Deutsche Leasing4,1%

CaterpillarFinancial4,7%

BZ WBK Finance6,7%

Millennium Leasing

7,1%

SG Equipment7,8%

Fortis Leasing4,7%

VB Leasing5,3%

BRE Leasing6,2%

21

Estimated total net value of computers and business machines leased in years 1997 – 2007 (in million PLN)

330300

325

370

476,5

310

340

245

370 380340

0

100

200

300

400

500

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

22

Analysis by type of assets in computers and business machines leasing market in 2007

(estimated total net value – 476,5 mln PLN)

23

Share of top 10 companies in computers and business machines leasing market in 2007

(estimated total net value – 476,50 mln PLN)

RaiffeisenLeasing

5,9%

ING Lease3,7%

Millennium Leasing

4,5%

BNP Paribas2,7%

Other23,1%

Grenkeleasing6,6%

Fortis Lease8,6%

Kredyt Lease10,2%

EFL10,4%

SG Equipment Leasing11,7%

BPH Leasing12,6%

24

Total net value of real estate leased in years 1997 – 2007 (in bln PLN)

3,05

2

2,4

1,9

0,6

0,8

1,351,2

1

0,04

1,7

0

0,5

1

1,5

2

2,5

3

3,5

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

25

Real estate market structure 2007 vs 2006

26

Share of top 10 companies in real estate leasing market in 2007

(estimated total net value – 3,05 bln PLN)

Millennium Leasing2%

Raiffeisen Leasing5%

ING Lease46%

LHI Leasing18%

BRE Leasing13%Fortis Lease

7%

Bankowy Fundusz Leasingowy

4%

BZ WBK Finance1,6%

Immoconsult2%

Pekao Leasing0%

Other1%

27

Europe’s new portfolio leasing market in 2005 – 2006 (in bln Euro)

49

44

5048

36

21,8

33,4

8,54

21,2

4

16,5

28,7

56,3

5,56

55

0

10

20

30

40

50

60

Great Britain Germany Italy France Spain Poland CEE

2005 2006 2007

Source: Leaseurope and PLA

28

Europe’s vs Polish leasing market Dynamics of new portfolio in Poland and EU

48,10%

39,00%

29,90%

22,57%21,50%17,00%

15,31%13,75%7,23%7,50%

0%

10%

20%

30%

40%

50%

60%

PolandEU

Source: Leaseurope and PLA

2003 vs 2002

2004 vs 2003

2005 vs 2004

2006 vs 2005

2007 vs 2006

(forecast)

29

1,20%1,30%

1,60%

1,90%

2,40%

0,00%

0,50%

1,00%

1,50%

2,00%

2,50%

3,00%

2003 2004 2005 2006 2007(estimated)

Share of Polish leasing in Leaseurope’s leasing market 2003 – 2007

Source: Leaseurope and PLA

30

• A measure of Polish leasing professional’s expectations in relation to the state of the general Polish economy (macroeconomic environment), the leasing sector and the situation inside leasing companies

• The individual activity component (microeconomic environment). consists of 3 factors: turnover, contracts, employees, financial results

• Polish leasing companies, for the third time already, take part in edition of the Polish Leasing Barometer. It is based on the methodology for computing the European Leasing Barometer. Leaseurope creates ELB for various clusters and countries, there for it should not be examined in isolation.

Polish Leasing Barometer An indicator of confidence of Polish lessors

31

Evolution of the Polish Leasing Barometer in 2007

Source: Leaseurope

65

82 80

0

10

20

30

40

50

60

70

80

90

Feb-07 Jun-07 Dec-07

Feb-07

Jun-07

Dec-07

32Source: Leaseurope

European comparison of various December edition Leasing Barometers

33

Evolution of Polish Leasing Barometer

components in 2007

58

85

71

79

8792

57

75 76

0

10

20

30

40

50

60

70

80

90

100

Macroeconomicenvironment

Leasing sector Individual Activity

Feb-07June-07Dec-07

Source: Leaseurope

34

Evolution of the individual activity component in 2007

878388

58

757583

60

38

70

42

0102030405060708090

100

Feb-07 June-07 Dec-07

Turnover Contracts Employees Fin. Results

Source: Leaseurope

35

December Polish Leasing Barometer components compared to CEE and Europe

5

41

71

32

61

92

45

58

76

0

10

20

30

40

50

60

70

80

90

100

Macroeconomicenvironment

Leasing sector Individual Activity

European LB CEE LB Polish LB

Source: Leaseurope

36

Polish Leasing Association

Polish Leasing Association Office:

Warsaw, Rejtana 17

Tel.: (22) 542 41 36/39

Fax: (22) 542 41 37

E-mail: zpl@leasing.org.pl

www.leasing.org.pl