PGNiG: Opening of liquidation proceedings with respect to Al-Mashariq-Geofizyka Torun Limited Company, indirect subsidiary

The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA (“PGNiG”) hereby reports that on May 8th 2012 it was notified that the Extraordinary General Meeting of Al-Mashariq-Geofizyka Torun Limited Company of Dammam, Saudi Arabia (“AMGT”) had resolved to open liquidation proceedings.AMGT is an indirect subsidiary of PGNiG, held through Geofizyka Toruń Sp. z o.o., which holds 50% shares in the company.Mr Saad Bin Mohammad Mesfer Al-Zahrani was appointed as AMGT's.The petition for opening the liquidation proceedings was filed with SAGIA Service Investment, Dammam.Initially, AMGT was to assist in securing contracts for Geofizyka Toruń sp. z o.o. in Saudi Arabia. Despite the commitment of Geofizyka Toruń Sp. z o.o.'s employees, the cooperation with AMGT in two tenders in Saudi Arabia failed to bring the expected results. As AMGT offers no prospects for the future, it was resolved to liquidate the company.