Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 26 November 2010 it signed a spot agreement with TOTSA Total Oil Trading S.A., Geneve, Switzerland („TOTSA”), for crude oil deliveries to AB ORLEN Lietuva (“ORLEN Lietuva”). The estimated net value of the agreement amounts to approximately USD 61 million (i.e. approximately PLN 185 million, based on the average PLN/USD exchange rate as of 26 November 2010, as stated by the National Bank of Poland).

The total estimated value of agreements signed between PKN ORLEN and TOTSA in the period between 22 December 2009 to 26 November 2010 amounts to approximately USD 652.7 million (i.e. approximately PLN 1 938 million, based on the average PLN/USD exchange rates as of the dates of signing the agreements, as stated by the National Bank of Poland).

PKN ORLEN S.A. owns 100% of ORLEN Lietuva shares.

In accordance with the “Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information to be published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state” the abovementioned agreements constitute a “significant agreement” due to the fact that their total value exceeds 10% of PKN ORLEN’s equity.

See also: regulatory announcement no 190/2009 dated 22 December 2009.