Capital increase in ORLEN Transport Olsztyn

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe's largest downstream oil company, informs of the registration on 7 March 2003 by a District Court in Olsztyn (Poland) of the initial capital increase in ORLEN Transport Olsztyn Sp. z o.o. ("ORLEN Transport Olsztyn").

The initial capital of ORLEN Transport Olsztyn was raised by PLN 2,324,000.00 from PLN 6,139,600.00 to PLN 8,463,600.00. The amount of PLN 2,324,000.00 was covered by a contribution-in-kind from PKN ORLEN (book value PLN 1,521,518.96).

All 84,636 shares are voting shares.

As a result of the capital increase PKN ORLEN increased its stake in ORLEN Transport Olsztyn from 92.30 per cent to 94.41 per cent of the total shares.