Appointment of Jaroslaw Cholodecki as a member of the Supervisory Board

Polski Koncern Naftowy ORLEN S.A. (PKN ORLEN), Central Europe's largest downstream oil company, hereby announces that The Polish State Treasury, on May 15, 2001 appointed Mr Jarosław Chołodecki a member of the Supervisory Board of PKN ORLEN. The appointment was made according to the Company’s Statutes, under § 8, item 1.

Mr Jaroslaw Cholodecki replaces Mr Ludomir Handzel.

Mr Jaroslaw Cholodecki was born on January 9, 1952 in Milcz. Since 1992 he has been a social communications consultant at LGPP USAID programme. He is experienced in marketing and public relations. He has a master degree in economics from The Academy of Economics in Wrocław. In 1985 he studied international affairs at The University of Chicago and in 1998 he completed a course for members of supervisory boards. Due to the termination of the Supervisory Board of PKN ORLEN, the Ordinary General Meeting of Shareholders on May 15, 2001 elected a new Supervisory Board of PKN ORLEN (full resolutions reported in current report 26/2001/27 as of May 15, 2001).

There are 9 members of the Supervisory Board of PKN ORLEN SA including 2 independent members. On the basis of the resolutions passed at the Ordinary General Meeting of Shareholders the following persons were appointed members of the Supervisory Board:

1. Mr Andrzej Herman - Chairman
2. Mr Marcin Gizewski - independent member
3. Mr Marek Wasowicz - independent member
4. Mrs Kalina Grzeskowiak-Gracz
5. Mr Jerzy Idzik
6. Mr Aleksander Olas
7. Mr Szczepan Targowski
8. Mr Stanisław Kondracikowsk

With the exception of Mr Jaroslaw Cholodecki and Mr Stanisław Kondracikowski the remaining members of the Supervisory Board of PKN ORLEN SA were members of the previous Supervisory Board.

Mr Stanislaw Kondracikowski was born on February 12, 1961 in Bialystok. Since 1995 he has been a private investor through the Warsaw Stock Exchange. In 1988-1999 he was Vice President with BIAZET SA. and since 1995 he has held the position of CFO in this company. He has graduated from the faculty of Administration and Economics at The Warsaw University and has completed training management and marketing.