Fitch rates PKN ORLEN 'BBB' and F3

PKN ORLEN informs that Fitch Ratings Limited has maintained Senior Unsecured Debt and Short-time ratings of ‘BBB’ (triple-B) and ‘F3’, respectively, to PKN ORLEN.

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PKN ORLEN S.A. has become the majority shareholder of Unipetrol a.s. Holding

Today, following the transfer of the purchase price due to the Czech Government for the acquisition of the Unipetrol shares, and the registration of these shares to PKN ORLEN's securities account, PKN ORLEN S.A. has become the majority shareholder of Unipetrol a.s. Holding.

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New Incentive Scheme at PKN ORLEN

The Supervisory Board of PKN ORLEN has today agreed to put into a force a Management by Objectives programme (MBO), a new incentive scheme for the Management Board and managerial staff of PKN ORLEN.

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PKN ORLEN welcomes the decision of the European Commission regarding acquisition of Unipetrol

On April 20, 2005 Polski Koncern Naftowy ORLEN S.A., Central Europe’s largest downstream oil company, received the notification from the European Commission Directorate General for Competition, informing about approval of the purchase of 62,99% of Unipetrol a.s. shares.

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Sale of shares in Naftoport

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") Central Europe's largest downstream oil company, announces that on 14 April 2005, on the basis of share transfer agreements, the Company sold 24 shares representing 30.77% of the initial capital of Przedsiebiorstwo Przeladunku Paliw Plynnych "Naftoport" SP. Z o.o. ("Naftoport") to PERN "Przyjazn" S.A. ("PERN").

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Anti-monopoly application to the European Commission

The Management Board of PKN ORLEN informs, that on the 11th March, 2005 they delivered to the European Commission Directorate General for Competition the notification issue concerning PKN ORLEN’s purchase of 62,99% of Unipetrol a.s. holding shares. Delivering of this application is connected with the necessity of fulfilling the last of suspending conditions, reserved in the conditional agreement of Unipetrol a.s. holding’s shares purchase signed on the 4th June, 2004 between Czech Republic National Treasure Fund and PKN ORLEN, concerning achieving the acceptance of the right anti-monopoly office.

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PKN ORLEN: A record performance in 2004

PKN ORLEN has achieved another record yearly financial result, with net profits of PLN 2.44 bn, some 147 per cent higher than in 2003. Sales revenues in 2004 rose by 25 per cent in comparison with 2003, while ROACE improved by 10 percentage points to 19 per cent. Over the course of the full year, PKN ORLEN’s cost cutting programme generated savings of PLN 637m.

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Retail Strategy 2005 - 2009

PKN ORLEN aims to remain the retail leader in Poland PKN ORLEN has announced its retail sales development plan for Poland for 2005 – 2009. The strategy is geared at achieving the position of a regional...

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Bull and Bear title for PKN ORLEN

PKN ORLEN has today won the coveted title of Best Investment in 2004 on the WIG 20, Warsaw Stock Exchange’s blue-chip index. Pawel Szymanski, CFO of PKN ORLEN, was presented with the prestigious “Bull and Bear” statue inaugurated by Parkiet, the Polish financial daily newspaper.

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