PKN ORLEN and Rotch Energy sign a Consortium Agreement to bid for the Gdansk Refinery

Polski Koncern Naftowy ORLEN S.A., Central Europe's largest downstream oil company, hereby announces that on 30th October 2002 it signed a Consortium Agreement with UK-based Rotch Energy in respect of their joint bid for a 75 per cent stake in Gdansk Refinery, the second largest refinery in Poland.

The Consortium Agreement was yesterday submitted to Nafta Polska, which supervises the privatisation of the Gdansk Refinery, and is subject to their approval.

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.