Revised financial calendar for 2002

PKN ORLEN Announces Revised 2002 Financial Calendar

Following the Ministerial Decree of 16 October 2001, concerning current and periodical information published by listed companies (Official Gazette No. 139, item 1569), Polski Koncern Naftowy ORLEN Spolka Akcyjna ("PKN ORLEN"), Central Europe's largest downstream oil company, hereby announces a revised financial calendar for 2002.

Unconsolidated financial reports, produced at the quarterly and half-yearly stages under Polish Accountancy Standards, will now be published as a section within consolidated financial report. The current timetable for these announcements is as follows and replaces all previous timetables:

Quarterly reports

Q1 2002 - 13.05.2002
Q2 2002 - 14.08.2002
Q3 2002 - 14.11.2002

Half yearly report

H1 2002 - 18.09.2002

Annual statements

2001 annual statements will be produced as follows:

Unconsolidated - 06.05.2002
Consolidated - 08.05.2002

IAS and LIFO adjustments

In line with its commitment to international best practice, PKN ORLEN has also voluntarily committed to publishing, whenever possible, both IAS and LIFO adjusted figures at the same time as PAS figures, thereby facilitating greater transparency. PKN ORLEN believes that this streamlined reporting process will simplify communications with investors and bring PKN ORLEN's reporting practices in line with the highest international standards.