PKN ORLEN subsrcibes in full to NOM initial capital

Polski Koncern Naftowy ORLEN S.A. (PKN ORLEN), Central Europe’s largest downstream oil company, announces today that on March 19, 2001 it subscribed, in full, to the initial capital issued by Niezalezny Operator Miedzystrefowy Sp. z.o.o., the Warsaw-based long distance, fixed line telephone operator. The above transaction constitutes execution of the partners agreement as announced on June 9, 2000. PKN ORLEN’s stake remains at the level of 35%.

PKN ORLEN subscribed to 70,000 shares at PLN 500 each new share. The total cost of the stake was PLN 35,000,000.