Polski Koncern Naftowy ORLEN Spolka Akcyjna ("PKN ORLEN") hereby announces that in connection with the agreement on the sale of AB Mazeikiu Nafta shares, concluded on 26 May 2006, PKN ORLEN on 3 December 2008 ,delivered to Yukos International UK B.V., headquartered in the Netherlands (“Yukos International”) notice regarding PKN ORLEN’s claims against Yukos International due to differences between Yukos International’s statements made on 14 December 2006 with the actual state of AB Mazeikiu Nafta.

On the closing date of the purchase of AB Mazeikiu Nafta by PKN ORLEN, i.e. on 14 December 2006, Yukos International submitted statements regarding the actual legal and financial state of AB Mazeikiu Nafta. In accordance with the agreement on the sale of AB Mazeikiu Nafta shares, concluded on 26 May 2006 between PKN ORLEN as a purchaser and Yukos International as a seller, PKN ORLEN should vindicate its claims with Yukos International regarding differences between Yukos International’s statements with the actual state. In accordance with the abovementioned agreement the maximum value of Yukos International’s responsibility for differences in the questioned statements with the actual state amounts to USD 250 million. On the closing date of the transaction this amount of money was deposited in the escrow account according to the Escrow Account Agreement dated 14 December 2006 (“Escrow Account Agreement”), as a part of the payment for AB Mazeikiu Nafta shares in order to secure the potential claims of PKN ORLEN towards Yukos International.

PKN ORLEN’s claims are a result of the verification of Yukos International’s statements regarding AB Mazeikiu Nafta’s situation, concluded by PKN ORLEN after the transaction had closed. Yukos International, according to the Escrow Account Agreement, may contest PKN ORLEN’s claims within 30 days.

PKN ORLEN S.A. owns ca. 90% of AB Mazeikiu Nafta shares.