PKN leads Polish companies in Bankowa's "500 List"

Gazeta Bankowa's "500 List" - the ninth ranking of Poland's largest companies - is due to be published April 25. The list was prepared by the Market Economy Research Institute (IBGR) and ranks companies by revenues recorded in 1999. Polski Koncern Naftowy (PKN) occupied the first position, pushing Polish Grid (PSE) into the second position. Polish telecom Telekomunikacja Polska SA exceeded Powszechna Kasa Oszczednosci (PKO), which in 1998 occupied second place. The new "500 List" reflects economic changes in Poland where private capital has already exceeded that of the state. Heavy industry companies have gradually disappeared from the list, giving way to service and finance companies which are most often represented by private sector firms. (Prawo i Gospodarka, page 1) A.Z.