PKN ORLEN purchases shares of Polkomtel

PKN ORLEN together with three other Polish companies has signed an agreement concerning the purchase of Polkomtel’s shares, which are now owned by TDC Mobile International. After the agreement is executed total share of Polish companies in Polkomtel SA will rise from 61% to 75%. Signing the agreement will support further implementation of the announced withdrawal from investments in Polkomtel’s shares announced PKN ORLEN.

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New managers in UNIPETROL and PKN ORLEN

PKN Orlen announces senior appointments to drive the further integration of Unipetrol and to strengthen the Group's upstream team.

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PKN ORLEN submits bid for AB Mazeikiu Nafta

Today PKN ORLEN submitted a bid for the purchase of the 53.7% of Mazeikiu Nafta offered by Yukos International UK B.V. The bid also contains a declaration of a potential purchase, under the same terms, of the shares owned by the Lithuanian government.

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ORLEN completed its biggest petrochemical investment

Today PKN ORLEN officially completed the Olefin II revamping, an investment which has allowed the company to double its ethylene and propylene streams – key feedstocks for the production of plastics. The modernized plants are capable of producing up to 700,000 tonnes of ethylene and up to 385,000 tonnes of propylene per annum. The bulk of the output will be streamed to the new plants of Basell Orlen Polyolefins and Anwil Wloclawek.

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Investment in Unipetrol will secure IRR of over 33%.

(Warsaw, Prague, 17th October) - The EBITDA of Unipetrol will improve at least 138 mln Euro by 2008, in the 2004 macroeconomic conditions, as a consequence of the streamlining of the company ´s operations with the PKN ORLEN Group.

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PKN ORLEN wins bid for Unipetrol

PKN ORLEN's bid for a 62.99% stake in Unipetrol a.s. ('Unipetrol') has won approval from the Czech Government. Poland's largest downstream oil company, will also acquire a 9.76% stake in Spolana, a.s., as well as receivables towards some of the companies of Unipetrol Group owned by Ceska konsolidacni agentura (“CKA”). The transaction is expected to be completed by the end of 3Q 2004.

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PKN ORLEN's offer for 62.99% of UNIPETROL

On April 23, 2004 PKN ORLEN submitted an offer for the acquisition of 62.99% of the share capital of UNIPETROL, a.s., a company operating in the Czech oil sector, and the purchase of the receivables of Ceska konsolidacni agentura (“CKA”) towards certain entities directly or indirectly owned by UNIPETROL, as well as for the purchase of 9.76% of the share capital of SPOLANA, a.s., currently being held by CKA (collectively the “CKA Assets”).

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PKN ORLEN withdraws from a binding offer for SNP Petrom

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) Central Europe’s largest downstream oil company hereby announces that it has withdrawn from submitting a binding expression of interest to the Romanian Ministry of Economy and Commerce in respect of the purchase of a 51% stake in SNP Petrom S.A., Romania’s largest oil company.

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Award for Basell Orlen Polyolefins

The award was given for the project financing for the construction of new sites manufacturing polyethylene and polypropylene. The overall size of the project is approximately EUR 500 million. Project Finance magazine awarded Basell Orlen Polyolefins its “European Petrochemical Deal of Year 2003” at an awards ceremony in London.

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