Mazeikiu Nafta re-started the refurbished Vacuum Distillation Tower

Mazeikiu Nafta has re-started the refurbished Vacuum Distillation Tower February 20, Mažeikiai. AB Mažeikiu Nafta has re-started the refurbished vacuum distillation tower, which will significantly increase production efficiency. The commissioning and start-up activities on the tower commenced on February 14, and operating efficiency has significantly improved.

Commencement of the squeeze-out of minority shareholders of AB Mazeikiu Nafta

Tomorrow, on 20 February 2007, PKN ORLEN, acting in cooperation with the Government of Lithuania, shall commence the squeeze-out of minority shareholders of AB Mazeikiu Nafta. The squeeze-out procedure shall be conducted in accordance with Lithuanian law.

Mr Pior Kownacki has been appointed President & CEO of AB Mažeikių Nafta

The management of AB Mažeikių Nafta, a member of the ORLEN Group, appointed Mr Piotr Kownacki to the position of President & CEO of AB Mažeikių Nafta on 7th February 2007. Mr Kownacki was appointed to the Management Board of AB Mažeikių Nafta on 14th December 2006.

UNIPETROL has completed the sale of Kaučuk

This morning, the contract on the sale of UNIPETROL’s 100% shares in KAUČUK, a.s. was signed between UNIPETROL, a.s. and the Polish chemicals producer FIRMA CHEMICZNA DWORY Spółka Akcyjna. The purchase price for Kaučuk shares amounts to EUR 195 million (approx. 5.4 billion CZK). The execution of the contract is the result of a tender process lasting almost one year, in which 11 investors participated.

PKN ORLEN calls for selling shares

On 25 January 2007 PKN ORLEN submitted to the Vilnius Stock Exchange a purchase order with respect to all shares in AB Mazeikiu Nafta owned by the minority shareholders. The Company has also signed a cooperation agreement with the Government of Lithuania with regards to the compulsory purchase of shares from minority shareholders of Mazeikiu Nafta.

New CEO of PKN ORLEN

At today’s meeting, having taken into account a motion from the Minister of Treasury and acting in accordance with the Company’s Articles of Association, the Supervisory Board of PKN ORLEN has dismissed Igor Chalupec from the Management Board of PKN ORLEN with immediate effect.

Statement of PKN ORLEN

Following media speculation regarding the dismissal statement allegedly issued by Cezary Smorszczewski, Vice-President of PKN ORLEN, both the Company and Cezary Smorszczewski categorically deny that such a statement was submitted either by the Company or himself. Cezary Smorszewski is performing his duties as normal on the Management Board of PKN ORLEN.

Cease of crude supplies

PKN ORLEN informs that crude supplies via the Friendship pipeline ceased on evening of 7th January 2007.

Mazeikiu Nafta - The biggest transaction in the history

Today PKN ORLEN finalized the acquisition of a strategic stake in the Lithuanian company AB Mažeikių Nafta (MN). The Polish corporation acquired a total of 84.36% shares from Yukos International UK B.V. (Yukos) and the Lithuanian Government, paying $ 2.34 billion. PKN ORLEN has taken corporate control over the Lithuanian refinery by changing the composition of its Supervisory and Management Boards.