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.

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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.

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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.

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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.

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Cease of crude supplies

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

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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.

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New Management Board in AB Mažeikių Nafta

It is PKN ORLEN ‘s intent that the new Supervisory Board of AB Mažeikių Nafta will appoint to the Management Board six representatives of PKN ORLEN: Igor Chalupec – President & CEO of PKN ORLEN, Piotr Kownacki – Vice President; Audit & Regulations, Jan Maciejewicz – Vice President; Cost Management, Paweł Szymański – Member of the Board & CFO, Krystian Pater – Executive Direcor; Refinery Production, and also Nelson English, present CEO of AB Mažeikių Nafta.

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Closure of the AB Mažeikių Nafta transaction

PKN ORLEN S.A. and Yukos International UK B.V. (Yukos) today issued irrevocable orders to a brokerage house in Vilnius to effect the transfer of shares in AB Mažeikių Nafta (MN) owned by Yukos to PKN ORLEN and to execute payment by the Polish corporation of the price for Mazeikiu amounting to $1.492 billion.

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Changes in the Supervisory Board of PKN ORLEN

Today’s Extraordinary General Assembly of PKN ORLEN SA appointed new members to the Supervisory Board: Mr. Robert Czapla, Mr. Konstanty Brochwicz - Donimirski Mr. Krzysztof Rajczewski. The new members have been recommended by the State Treasury. The new President of the Board is Mr. Zbigniew Macioszek.

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