The new economy retail brand

PKN ORLEN has today introduced in Poland its economy stations under the BLISKA brand. The segment is addressed at drivers who look for quality at a reasonable price. The implementation of the economy retail segment derives from PKN ORLEN’s strategy of regaining share in the domestic retail market.

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Consolidated financial results of PKN ORLEN - Q3'2005

In the third quarter this year, the ORLEN Group achieved a record net income of PLN 980 m. The return on average capital employed (ROACE) equalled 18.3%, while earnings before interest depreciation taxes and amortization (EBITDA) amounted to PLN 1,622 m. Operating cost cutting in the quarter generated savings of PLN 228 m. The total effects of the cost-cutting programme (KPRKO) attained during the first three quarters of this year has yielded 82% of the annual savings planned.

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Segment Management system in the ORLEN Group

Starting on 1 January 2006, a new management structure is to be implemented across the ORLEN Group. It will be based on the principles of the segment management system. This undertaking is aimed at achieving further efficiency improvements within the developing ORLEN Group.

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Strategy for ORLEN Deutschland

Advanced restructuring and development constitute the main assumptions of the strategy for ORLEN Deutschland for the years 2006-2009. The forecast ROACE under this concept is equal to 18.4%, including favourable SWAP transactions. The preferred scenario does not exclude disposal of assets in the future.

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PKN ORLEN completed purchase of UNIPETROL

Today PKN ORLEN has added an additional CZK 1.645 bln, ie. 14.55%, to the initial price paid for the controlling stake in the Czech Unipetrol. The transaction marks a completion of the purchase of 62.99% of Unipetrol. The final price was calculated upon the adjustment option as set down in the Agreement between PKN ORLEN and the National Property Fund (NPF).

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ORLEN completed its biggest petrochemical investment

Today PKN ORLEN officially completed the Olefin II revamping, an investment which has allowed the company to double its ethylene and propylene streams – key feedstocks for the production of plastics. The modernized plants are capable of producing up to 700,000 tonnes of ethylene and up to 385,000 tonnes of propylene per annum. The bulk of the output will be streamed to the new plants of Basell Orlen Polyolefins and Anwil Wloclawek.

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PKN ORLEN begins consolidation of its southern assets

PKN ORLEN has begun the restructuring and consolidation of its southern assets. The project is aimed at improving the efficiency of management within the ORLEN Group’s southern businesses which include the Jedlicze Refinery, Trzebinia Refinery and ORLEN Oil. The restructuring will also include the oil assets of UNIPETROL Holding.

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PKN ORLEN refinery the best in Central & Eastern Europe

Participants in the Central & Eastern European Refining and Petrochemicals 8th Annual Roundtable, organised by the British World Refining Association, have decided that the best refinery in 2005 is the Petrochemical Complex in Plock. The decision was based on considerations including corporate strategy, infrastructure, technology innovation and plans for the future.

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Final Stage of the Czech Buy-Out

The subscription for the shares of Unipetrol, Spolana and Paramo, carried out by PKN ORLEN in relation to the announced mandatory tender offers, has finished. Minority shareholders expressed an interest to sell shares representing the share capital of 3.7% of Paramo, 3.6% of Spolana and 0.0014% of Unipetrol.

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