Third stage of privatisation - update

Polski Koncern Naftowy ORLEN Spolka Akcyjna ("PKN ORLEN"), Central Europe's largest downstream oil company, announces today that as part of the third stage of the Company’s privatisation, on 14th August 2001 PKN ORLEN received from Nafta Polska S.A., a PKN ORLEN shareholder, copies of the invitations to tender sent by Nafta Polska SA and PKN ORLEN’s financial advisors to selected oil sector entities. The invitations to tender refer to the acquisition by such entities of 17.58% of the Company’s shares owned by Nafta Polska S.A., an acquisition by PKN ORLEN of a significant stake in these entities’ share capital as well as any subsequent integration progress.