PLN 500m borrowing of Polkomtel

Polski Koncern Naftowy ORLEN S.A., Central Europe’s largest downstream oil company, and owner of 19.61% of shares in Polkomtel S.A. (the operator the Plus GSM network), announces today that on 18th June 2001, at the Extraordinary General Meeting of Polkomtel S.A., the shareholders agreed to borrow PLN 500 million from existing shareholders. Shareholders of Polkomtel S.A. will participate in the loan in proportion to their shareholding.
The money will be used for financing the further development of the company with regards to third generation mobile telecommunications(UMTS).