The associated agreements with Basell

Polski Koncern Naftowy ORLEN S.A. (PKN ORLEN), Central Europe's largest downstream oil company, announces that in respect of the Joint Venture Agreement signed on 30 September 2002 between PKN ORLEN and Basell Europe Holdings B.V., both parties have agreed the associated commercial agreements on 23 October 2002.

The transaction is still subject to clearance from the Polish Office for Protection of Competition and Consumers and securing satisfactory financing for the project (also see current reports as of September 30 and October 17, 2002)

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.