PKN ORLEN - consolidated 2007 results

Significant improvement in efficiency, growing sales volumes and consistency in implementing its strategy impacted PKN ORLEN Group's EBIT despite unfavourable macroeconomic factors and one-off events in 2007.

Azeri Light crude in ORLEN

In March 2008 the Plock refinery will begin processing the new brand of Azeri Light crude oil. It is expected to offset a drop in diesel production after the planned overhaul of the diesel hydrodesulphurization plant VI.

Changes to the PKN ORLEN Supervisory Board

At today’s meeting Shareholders appointed seven new Supervisory Board Members. The EGM of PKN ORLEN dismissed Malgorzata Slepowronska (Chairman), Robert Czapla, Marek Drac-Taton, Raimondo Eggink, Zbigniew Macioszek, Agata Mikolajczak and Krzysztof Rajczewski from the Board. Janusz Zielinski remained in the Board as a member designated by the State Treasury.

Mazeikiu Nafta at full production capacity

Mazeikiu Nafta at full production capacity Representatives of the Lithuanian Government, the Management Board of PKN ORLEN and Mazeikiu Nafta have today officially opened the Vacuum Distillation Unit (VDU) in AB Mazeikiu Nafta.

Statement re Anti-Trust Decision

With regard to the decision of the Polish Anti-Trust Office to impose a PLN 5.5m fine on PKN ORLEN and the Lotos Group, due to their ceasing of the production and sale of U-95 petrol, we wish to inform that PKN ORLEN will appeal against this decision to the Anti-Trust Court. PKN ORLEN is not legally bound to pay the fine before the end of these proceedings.

PKN ORLEN has acquired shares in ORLEN Transport

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") announces that on 2 January 2008, it was informed that the District Court in Warsaw (Poland) has registered a company, ORLEN Transport, a joint stock company headquartered in Plock (“ORLEN Transport”). PKN ORLEN has acquired 65,460,141 shares in ORLEN Transport, with a par value PLN 1 of each share, representing approximately 97.61% of the initial capital of ORLEN Transport, and representing 97.61% of votes at the general meeting of shareholders of ORLEN Transport.

Reconstruction of Vacuum Distillation Unit Completed

AB Mažeikiu Nafta Refinery has completed the rebuilding of Vacuum Distillation Unit. The VDU had been destroyed in a fire that broke out in October 2006.

PKN ORLEN has signed a credit agreement with the European Investment Bank

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 21 December 2007, it signed a credit agreement (“Agreement”) with the European Investment Bank (“EIB”) in the amount of EUR 300 million, i.e. PLN 1 085.4, based on a EUR/PLN average exchange rate as of 21 December 2007, as quoted by the National Bank of Poland.

PKN ORLEN donated shares in Wisla Plock to Plock District

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 20 December 2007, as donor, and Gmina Plock District, as donee, signed a contract of donation regarding shares (“Contract”) in Wisla Plock a joint stock company, headquartered in Plock, Poland (“Wisla Plock”) and a contract of donation regarding the Kazimierz Gorski stadium.