An agreement on supplies of "Rozewie" crude oil

Pursuant to § 4, par 1, item 3 and §8, par. 1,2,3,4,5 of the Council of Ministers Decree dated 22 December 1998 concerning the nature, form and scope of current and periodical information as well as time when such information is bound to be forwarded by issuer admitted to public trading (Official Journal No 163, item 1160 as amended) The Management Board of Polski Koncern Naftowy S.A. wishes to inform that on April 26, 2000 PKN "ORLEN" S.A. and PETROBALTIC Sp. z o.o , an oil and gas up-stream company, signed a term agreement on supplies of "Rozewie" crude oil from B3 field located on Polish shelf of the Baltic Sea in the economic area of Poland. The deliveries will be realised on monthly basis by the end of year 2000. The agreement may be prolonged and its estimated value amounts to approximately PLN 200 mln.