Bankruptcy of Dromech

Warsaw District Court declares bankruptcy of Dromech Polski Koncern Naftowy ORLEN Spolka Akcyjna ("PKN ORLEN"), Central Europe's largest downstream oil company, informs that on 4th October 2001 Sad Rejonowy m.st. Warszawy XVII Wydzial Gospodarczy Upadlosciowy ul. Swietokrzyska 12 w Warszawie (”District Court in Warsaw”) examined an application submitted by a Warsaw based BHT Dromech SA. (“Dromech”) to commence an agreement on debt reduction with creditors. The application has been rejected and District Court in Warsaw declared bankruptcy of Dromech. At the same time Mr Jozef Syska has been appointed an official receiver.

(also see release dated 16th August 2001)