Agreement over IPO of Polkomtel

PKN ORLEN has entered into an agreement with KGHM S.A. and PSE S.A. over the simultaneous sale of their respective stakes in Polkomtel through an Initial Public Offering of shares by not later than 30 September 2005. This shall be undertaken in compliance with the law and internal regulations of the three companies.
PKN ORLEN’s holding in Polkomtel equals 19.61 per cent.