RNS Number:3547L
Bank Millennium S.A.
20 May 2003


Bank Millennium SA


                                                      Date of issue: 20 May 2003
                                 Current Report

Re: rating of the Bank

Bank Millennium S.A. announces that on May 20, 2003 it received information from
Moody's rating about unchanged long and short-term deposit rating at
respectively A3 (7th position in 21 grade scale) and P-1 (1st position in 4
grade scale) but improved outlook to stable from negative. The agency informed
also about downgraded financial strength rating from D to D- (11th position in
13 grade scale).

Moody's notices in comments to its announcement that the ambitious restructuring
programme completed by the Bank in 2002,  should in the short to medium-term,
lead to reduced costs, improved productivity and lower provision charges.
Moody's recognizes also that the Bank may encounter some constraints in its
income generation because of difficult conditions in the economy and very
competitive market.


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