Polski Koncern Naftowy ORLEN Spolka Akcyjna ("PKN ORLEN") hereby announces that in order to optimise the management of financial liquidity within the PKN ORLEN Capital Group, on 9 March 2010 PKN ORLEN issued short term bonds to its subsidiary, ORLEN Deutschland GmbH (“ORLEN Deutschland”). The bonds were issued in accordance with the Bond Issue Programme signed by PKN ORLEN and a syndicate of 6 banks in November 2006.

The bonds are used for managing the working capital of PKN ORLEN Capital Group. 

The bonds were issued in compliance with the Law on Bonds dated 29 June 1995 (unified text: Journal of Laws, 2001 No 120, point 1300 with subsequent changes) in euro, as bearer, dematerialized, unsecured, and zero-coupon securities. The redemption of the bonds will be at their nominal value.

The bonds purchased today by ORLEN Deutschland were issued by PKN ORLEN with the following issue conditions:
Series: ORLEN274180310; value of the bond issue EUR 20 000 000 (i.e. PLN 77 674 000 based on EUR/PLN average exchange rate as of 9 March 2010, stated by National Bank of Poland), composed of 800 bonds with a nominal value of  EUR 25 000 per bond (i.e. PLN 97 092.50 based on EUR/PLN average exchange rate as of 9 March 2010, stated by National Bank of Poland).
- Date of issue: 9 March 2010
- Redemption date: 18 March 2010
- Yield on bonds: based on market conditions, unit nominal price amounted to EUR 24 997.45 (i.e. PLN 97 082.60 based on EUR/PLN average exchange rate as of 9 March 2010, stated by National Bank of Poland).

PKN ORLEN owns 100% of the registered capital of ORLEN Deutschland.

See also: regulatory announcement no 75/2006 dated 27 November 2006.