Capital increase in ORLEN Transport Krakow

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe's largest downstream oil company, informs of the registration on 28 January 2003 by a District Court in Krakow (Poland) of the initial capital increase in ORLEN Transport Krakow Sp. z o.o. ("ORLEN Transport Krakow").

The initial capital of ORLEN Transport Krakow was raised by PLN 1,123,300.00 from PLN 11,341,700.00 to PLN 12,465,000.00. The amount of PLN 1,123,100.00 was covered by a contribution-in-kind from PKN ORLEN (book value PLN 605,521.04) and cash contribution of PLN 200.00 covered by Ms Zofia Kaczmarczyk, an employee of ORLEN Transport Krakow.

All 124,650 shares are voting shares.

As a result of the capital increase PKN ORLEN increased its stake in ORLEN Transport Krakow from 98.15 per cent to 98.31 per cent of the total shares.