PKN ORLEN – second quarter 2008 results.

Substantial improvements in operating efficiency despite unfavourable macroeconomics boosted the Corporation’s Q2 2008 results to record quarterly levels reported so far. The PKN ORLEN Capital Group reported EBITDA of PLN 2,253m – up 20%, and a net profit* of PLN 1,668m - up 47% compared to the same quarter last year.

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PKN ORLEN first quarter 2008 results

Significantly improved financial results compared to Q1 2007: EBITDA up almost PLN 160m, operating profit up PLN 190m and net profit attributable to shareholders of the holding company up PLN 577m. Operating cash flow is also up while financial leverage is down.

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Azeri Light crude in ORLEN

In March 2008 the Plock refinery will begin processing the new brand of Azeri Light crude oil. It is expected to offset a drop in diesel production after the planned overhaul of the diesel hydrodesulphurization plant VI.

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Mazeikiu Nafta at full production capacity

Mazeikiu Nafta at full production capacity Representatives of the Lithuanian Government, the Management Board of PKN ORLEN and Mazeikiu Nafta have today officially opened the Vacuum Distillation Unit (VDU) in AB Mazeikiu Nafta.

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PKN ORLEN has signed a credit agreement with the European Investment Bank

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 21 December 2007, it signed a credit agreement (“Agreement”) with the European Investment Bank (“EIB”) in the amount of EUR 300 million, i.e. PLN 1 085.4, based on a EUR/PLN average exchange rate as of 21 December 2007, as quoted by the National Bank of Poland.

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PKN ORLEN THIRD QUARTER 2007 RESULTS

Significant growth in retail fuel sales, and good results in the petrochemical and chemical sectors in an unfavorable macroeconomic situation, are the main factors impacting the consolidated financial results of the PKN ORLEN Group in Q3 2007.

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PKN ORLEN: FIRST QUARTER 2007 RESULTS

Good results from the ORLEN Capital Group’s Polish and Czech companies, especially in retail and petrochemicals, the consolidation of Mažeikiu Nafta, and inventory valuation, were the main factors affecting PKN ORLEN’s first quarter 2007 results. The ORLEN Group generated an EBITDA of PLN 995m, representing a 39.5% increase over the Q4 2006 results and a 1.2% improvement over the corresponding period of last year. Net profit was influenced primarily by the consolidation of our Lithuanian assets, reserve valuation, crude prices and other incidental factors. The cost reduction program’s results were 63% better than in the first quarter of 2006.

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PKN ORLEN Q4 2006 results

Despite an unfavourable macroeconomic environment in Q4 2006, PKN ORLEN reported good operating and financial results. In Q4 2006, the PKN ORLEN Group generated PLN 13,115m in revenue and an operating profit of PLN 173m. Consolidated net profit was PLN 76m and the net profit attributable to shareholders of the holding company was PLN 146m. These results are the effect of continued growth in the wholesale and retail sales of fuels, petrochemical products and consolidation of the Group’s foreign assets.

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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.

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