PKN ORLEN supports Poland's national heritage

Rafał Blechacz, the winner of the XV International Frederic Chopin Piano Competition in Warsaw, yesterday visited the Steinway Factory in Hamburg (Germany) where he chose his dream piano. The purchase of the instrument is being sponsored by PKN ORLEN.

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PKN ORLEN has signed an agreement with Yukos that enables the Company to acquire Mažeikių Nafta

On May 26th, 2006 PKN ORLEN S.A. and Yukos International UK B.V., have signed a Share Sale and Purchase Agreement concerning the purchase by PKN ORLEN S.A. of 53.7% stakes in AB Mažeikių Nafta. At the same time a complete set of agreements was provided to the Lithuanian Government containing the agreement to purchase from the Lithuanian Government the package of 30.66% of Mažeikių shares that it owns.

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PKN ORLEN to sponsor the Pilgrimage of Pope Benedict XVI

The Apostolic Visit of Pope Benedict XVI to our country will be an extremely important event for Poles – this will be their first meeting with a Pope since the death of John Paul II. As Poland’s largest company, PKN ORLEN feels that it has an obligation to support major initiatives of social life and therefore the decision to sponsor this event was a natural consequence of this duty.

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BIO Partnership between Trzebinia Refinery and the City of Cracow

Yesterday, the authorities of Cracow and Trzebinia Refinery (ORLEN Group) signed a letter of intent regarding the use of bio-fuels by the municipal transportation authority. Under The Partner Programme both Cracow transportation and the city cleaning services will be testing Trzebinia Refinery’s BIO ON diesel which has a bio-component content of 20%.

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Q1’2006 – poorer results, good prospects for the next quarter

Lower level of refining margins and a decrease in Ural-Brent differential significantly affected the financial results of ORLEN Group for Q1’2006. The decline of the operating result was also affected by limited gas supplies in a period of extremely low temperatures. In the first three months of this year ORLEN Group attained net profit at the level of PLN 365 million. i.e. 16% over Q4’ 2005, but 45% below performance in Q1’2005. ROACE amounted to 6.4%, and EBITDA profit was PLN 984 million. OPTIMA program brought about planned savings of PLN 54 million. The growing sales volumes in virtually all areas of Group’s operations and cost discipline give good prospects under more favorable macroeconomic conditions recorded in the second quarter this year.

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Announcement

In the 1st quarter 2006 there was a dramatic combined drop in refining margins and the Ural-Brent differential - in total, a fall of 29% in relation to the corresponding period of the previous year. In addition a decrease in natural gas deliveries and a cold winter affected the PKN ORLEN Group's operations. In consequence, although there was an increase in wholesale and retail sales volumes, the results of the Group in the 1st quarter of 2006 were only at a similar level to the result in the 4th quarter of 2005.

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Claim of penalty by Agrofert

PKN ORLEN informs that on 9th May, the representative of PKN ORLEN received from the Prague Arbitration Court a second claim of contractual penalty filed by Agrofert Holding a.s. in Prague. The amount under dispute is EUR 77,266,500, plus interest.

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Claim of penalty by Agrofert

In 2005 PKN ORLEN attained a record net profit (after elimination of negative goodwill of acquired assets of Unipetrol over the acquisition price) of PLN 2,745 m. The profit including the negative goodwill amounted to PLN 4,638 m.

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PKN ORLEN and UNIPETROL - partners of the 41st Karlovy Vary International Film Festival

From June 30 to July 8, Karlovy Vary is hosting its well known film festival. This is the most important Category A international film festival in Central and Eastern Europe, and the only Category A festival in the Czech Republic. The Karlovy Vary IFF is open to the public and is visited by thousands of people every year. More than 200 new films from around the world are presented annually. The partners of this year’s film festival will be PKN ORLEN and Unipetrol, both members of the ORLEN Group – a major regional oil company.

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