PKN ORLEN in talks with the Government of Lithuania on Mazeikiu Nafta

PKN ORLEN and the Lithuanian government are proceeding with the schedule for the closing of the transaction. The report of the Lithuanian governmental commission should be ready by 1st December 2006.

New JV of PKN ORLEN

On 16th October 2006 PKN ORLEN entered into a JV agreement for the production of ethylbenzene, a key component in the production of styrene, with Firma Chemiczna Dwory SA (Dwory). The JV will be operating under the name of ETYLOBENZEN Plock.

Reg. Mazeikiu Nafta - continue

In a teleconference with capital market analysts today, PKN ORLEN President of the Board Igor Chalupec announced a delay in the signing of the financing programme in support of the acquisition of Mazeikiu Nafta. This delay is caused by the need to analyze the emergent situation in the Lithuanian refinery.

Hydrotreatment plant shut down

Today, 13th October 2006, PKN ORLEN shut down its Hydrotreatment plant in order to replace worn elements. The shut down of the unit has been scheduled for approx. 12 days, until the replacements are complete and final tests carried out. The facility’s overhaul will be performed within a record pace, given that the standard period for such work is normally around 18 days. Given the above circumstances, PKN ORLEN has prepared a precise overhaul work-schedule together with different scenarios for the operations of other units.

Reg. Mazeikiu Nafta

Today at approximately 2:30 p.m. Lithuanian time a fire broke out in the Mażeikiu Nafta refinery, damaging a vacuum pipe tower distillation column. The are no casualties. The impact of the fire is yet undetermined. Although PKN ORLEN is not yet the formal owner of Mażeikiu Nafta, we will offer our assistance in coping the effects of the fire to the refinery, the local authorities and the community.

Reg. Yukos Oil Company

Yesterday, 4th October 2006, Cezary Smorszczewski and Cezary Filipowicz, Vice-Presidents at PKN ORLEN, met with Eduard Konstantynowicz Rebgun, an official receiver of Yukos Oil Company to primarily discuss the arbitration measures regarding crude oil supplies from Petroval.

Consent motion regarding Mazeikiu Nafta

Today, 29th September 2006, PKN ORLEN has submitted to the European Commission Directorate General for Competition a consent motion regarding permission for the concentration of PKN ORLEN and Mazeikiu Nafta assets. The receipt of consent from the Commission is the last condition suspending the transaction as defined in the agreements of the Mazeikiu Nafta share purchase from Yukos International UK B.V. and the Government of Lithuania.

PKN ORLEN at Oil & Gas 2006 Exibition

Between 27-29 September Warsaw will host XI International Exhibition of Oil & Gas Industries: Oil & Gas 2006. The honour patronate over the Exibition is held by the State Treasury, the Ministry of Industry, Nafta Polska, PKN ORLEN, PGNiG and AHG University of Science & technology in Cracow.

PKN ORLEN at Fuel Forum PetroTrend 2006

On 20 September Warsaw will host The International Fuel Forum PetroTrend 2006 held under a main theme: What is there to fight for – competitive struggle in the Polish fuel market.