PKN ORLEN and Basell to continue negotiations

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe's largest downstream oil company, informs that, with regard to a JV Agreement signed on September 30, 2002 between PKN ORLEN and Basell Europe Holdings B.V. ("Basell"), the Parties agreed to extend the negotiations regarding the associated commercial agreements until October 23, 2002. Should the agreements not be signed by this date the Parties, within 15 working days, shall mutually analyse the situation and assess the possibility and ways of finalising these commercial agreements.

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.