PGNiG: Recommendation of the PGNiG Management Board concerning distribution of the 2011 net profit – Supervisory Board opinion

The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA ("PGNiG", the "Company") hereby reports that on May 9th 2012 Supervisory Board of PGNiG issued a positive opinion of the Management Board’s decision, published in the current report no. 69/2012, regarding the recommendation to General Meeting of PGNiG to allocate the 2011 net profit of PLN 1,615,690,672.36 to the Company's statutory reserve funds, with the allocation of that amount resting within the powers of the PGNiG General Meeting, and regarding the allocation of the retained earnings of PLN 72,471,800.88 to the Company's statutory reserve funds.See also: Current report no. 69/2012