Initial capital increase in Petrotel

Regulatory filing dated January 30th, 2002

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”), Central Europe’s largest downstream oil company, today announces that it has been notified of the registration of a change in the initial capital in Petrotel Sp. z o.o.(“Petrotel”). The registration took place in Sad Rejonowy dla miasta Stolecznego Warszawy XXI Wydzial Gospodarczy Krajowego Rejestru Sadowego (“Warsaw District Court”).

The initial capital was increased by PLN 5,000,000 (five million), from PLN 3,200,000 (three million two hundred thousand) to PLN 8,200,000 (eight million two hundred thousand), through a cash injection from PKN ORLEN the main shareholder. The initial capital of PLN 8,200,000 consists of 8,200 shares with a nominal value of PLN 1,000 each. All of these shares are voting shares. PKN ORLEN owns 88.8 per cent of the total shares. The employees of the company hold the remainder. The company specialises in selling telecommunications services in the Plock and Stara Biała districts.