Letter of Intent with Agrofert Holding a.s.

Polski Koncern Naftowy ORLEN S.A. ('PKN ORLEN'), Central Europe's largest downstream oil company, announces that on 26th May 2003 it signed a Letter of Intent with Agrofert Holding a.s. based in Prague (Czech Republic) in respect of possible establishment of a consortium which could participate in privatization of Unipetrol a.s.