PKN ORLEN signs agreement with Nordea Bank Sweden

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe's largest downstream oil company hereby informs that on 23rd September 2002 PKN ORLEN signed an agreement with Nordea Bank Sweden AB (publ) ("Nordea") upon which Nordea wishes to purchase 4,450,708 shares of LG Petro Bank S.A. ("LG Petro Bank") from PKN ORLEN.

The purchase of the above stake, which accounts for 19.9 per cent of the initial capital of LG Petro Bank, shall be realised through a public call / summon. Not later than on 8th January 2003 Nordea shall publicly call for registration for purchase of the LG Petro Bank shares in accordance with the regulations of the Law on Public Trading of Securities. The purchase price set out in public call shall equal PLN 21 per one share of LG Petro Bank.

About PKN ORLEN SA

PKN ORLEN S.A. is one of the largest companies in Central & Eastern Europe, with listings on the Warsaw and London Stock Exchanges, and trading on the OTC market in the U.S.A. It is Poland's largest refiner of crude oil and marketer of world-class petroleum and related products. It has a substantial wholesale and retail distribution system that includes the largest network of service stations in Poland. It also has significant financial investments in the telecommunications sector in Poland.