Renewed contract for crude oil supplies

PKN ORLEN Renews Contract for Crude Oil Supplies

PKN ORLEN S.A., Central Europe’s largest downstream oil company, announces today that due to the Company’s policy of diversification of supplies on 16th July 2001 PKN ORLEN S.A. renewed its agreement with BMP Trading GmbH & Co. KG on the supply of Russian R.E.B.C.O crude oil in 2002-2005.

The renewed agreement foresees supplies of 2,000,000 tonnes per year. The agreement’s realisation is secured by a 5-year guaranty given by YUKOS, the Russian oil company from which resources most of the supplies will come from. The transaction, estimated at USD 300 m per year, is significant element of the Company’s strategy to ensure long-term feedstock safety for the PKN ORLEN’s refinery based on reliable supply source.