Appointment of K.Cetnar to the position of CFO

PKN ORLEN APPOINTS NEW FINANCE DIRECTOR

Polski Koncern Naftowy ORLEN Spolka Akcyjna (“PKN ORLEN”), Central Europe’s largest downstream oil company, announces today that on 6th August 2001 the Supervisory Board appointed Mr Krzysztof Cetnar, to the position of Vice President and Chief Financial Officer of the Company, in succession to Mr Marek Mroczkowski, who has also left the Management Board of PKN ORLEN following his appointment as President of the Management Board of Polkomtel S.A. Prior to this appointment Mr Cetnar was PKN ORLEN's Planning and Supervision Director and a member of the management board.

Mr Krzysztof Piotr Cetnar is a graduate of the Faculty of Physics at the Jagiellonian University in Krakow. He holds a licence to act as a securities broker and investment adviser. In 1999 he graduated with an MBA degree from the University of Teesside and the School of Entrepreneurship and Management of the Academy of Economics in Krakow. He commenced his professional career as a physicist at the Nuclear Physics Institute in Krakow. He was the general manager and then the investment manager at the Brokerage House Certus Sp. z o.o. in Krakow. From 1996 to 1999 he was the finance director and member of the management board of chemical plant Zaklady Chemiczne Alwernia S.A. He was also the Economics and Financial Director and a member of the management board of CPN SA until its deletion from the commercial register in 1999. Also, on 6th of August 2001 the Supervisory Board accepted the resignation of Mr Tadeusz Szczerba as a member of the management board. He was Director of Integration but the mission to integrate Petrochemia Plock S.A. and CPN S.A. is now considered complete.

On 6th August 2001 the Supervisory Board of PKN ORLEN also accepted the long-term programme “PKN ORLEN’s strategy for 2001-2005 together with perspective until 2010” and the “Development Programme of PKN ORLEN - 2001-2010 (see the Company’s release dated 28th June 2001).