Jacek Strzelecki appointed CFO of PKN ORLEN

Changes in the Management Board of PKN ORLEN

Polski Koncern Naftowy ORLEN SA (“PKN ORLEN”), Central Europe’s largest downstream oil company, hereby announces that on July 11th, 2002 the Supervisory Board of PKN ORLEN appointed Mr Jacek Strzelecki to the position of the Vice President & CFO of the Management Board.

Mr. Jacek Strzelecki, age 54, graduated from the Electrical Faculty at the Lodz Institute of Technology. He has a post-graduate Ph.D. degree in management and labour organisation at the Economics and Sociology Faculty of Lodz University.

Mr Jacek Strzelecki completed post-graduate studies in Banking at the Warsaw School of Economics. He has participated in a number of professional training courses in the fields of corporate restructuring, finance and banking at, among others, IDCE (Angers, France); Ecole Centrale Institute of Technology and Management (Paris, France) as well as EVCA Management Development Course and EVCA Advanced Training Course.
Between 1987 - 1990, he managed SZT-W Omega, a company implementing modern, innovative industrial technology solutions.
Between 1991 - 1996, as the President of the Lodz-based Ortex Consulting, he implemented a number of equity and ownership transformation projects as well as developed many corporate growth and restructuring programmes.
In 1997-1998 he served as a Director Corporate Banking at Powszechny Bank Gospodarczy S.A, a member of the Pekao S.A. group.
Between 1991-1998 Mr Strzelecki served as Chairman and member of supervisory boards of industrial companies and insurance institutions.

He is currently a member of the Investment Committee of Central Poland Fund, whose investors include Bank Pekao S.A., EBRD and IFC. Mr Strzelecki has vast professional experience in economic consulting as well as investment and corporate banking. Currently, he serves as a President of Pekao Capital Fund as well as Vice President of the Warsaw-based Trinity Management Sp. z o.o. and Vice President of NFI Jupiter S.A.