ORLEN purchases "J" series shares of Polkomtel

Polski Koncern Naftowy ORLEN S.A. (PKN ORLEN), Central Europe’s largest downstream oil company, announces today that on March 20, 2001 it paid PLN 80,891,250, the remaining amount due for the purchase of new “J” series registered shares issued by POLKOMTEL S.A. The first tranche of PLN 26,963,750 was paid on December 29, 2000 as reported on the same day.
As a result of the capital increase PKN ORLEN has signed up for 1,078,550 of the new “J” series shares at nominal value PLN 100 each.
PKN ORLEN’s 19.61 % stake in POLKOMTEL S.A. shall remain unchanged. The capital increase in POLKOMTEL S.A. was connected with UMTS licence payment.