PKN ORLEN's 2003 Financial Calendar

Following the Ministerial Decree of 16 October 2001, concerning the publishing of current and periodical information by listed companies (Official Gazette No. 139, item 1569), Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe's largest downstream oil company, hereby publishes its financial calendar for 2003.

Unconsolidated financial reports, produced at quarterly and half-yearly stages under Polish Accountancy Standards, will be published as a section within the consolidated financial report.

Quarterly reports:

Q4 2002 - 27.02.2003
Q1 2003 - 15.05.2003
Q2 2003 - 13.08.2003
Q3 2003 - 13.11.2003

Half yearly report:

H1 2003 - 25.09.2003

Annual statements:

2002 annual statements will be produced as follows:
Unconsolidated - 27.03.2003
Consolidated - 17.04.2003

IAS and LIFO adjustments

In line with its commitment to international best practice, PKN ORLEN has also voluntarily committed to publishing, whenever possible, both IAS and LIFO adjusted figures at the same time as PAS figures, thereby facilitating greater transparency. PKN ORLEN believes that this streamlined reporting process will simplify communications with investors and bring PKN ORLEN's reporting practices in line with the highest international standards.

About PKN ORLEN

PKN ORLEN 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.