Bonus shares of PKN ORLEN

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe's largest downstream oil company, announces today, following information received from Nafta Polska SA, the owner of the stake from which bonus shares will be allocated, and the brokerage house WBK SA., an underwriter of the second public offering of PKN ORLEN shares, that the National Securities and Exchange Commission in Warsaw approved the transfer of ownership of the bonus shares of PKN ORLEN over the counter.

The bonus shares were one of the incentives for individual investors who purchased shares of PKN ORLEN during the second offering in the retail tranche between June 16 and July 6, 2000, as outlined in the Offer prospectus. The maximum number of bonus shares could reach 4,370,000, ie. 10% of all shares sold in the retail tranche. Bonus shares will be issued on the basis of one bonus share for each 10 shares held for the year since the Offer. Allocation of the bonus shares will commence on July 7, 2001 and will be realised through automatic records of the bonus shares on individual investors’ accounts.