Acquisition of shares in ORLEN PetroTank

The Management Board of Polski Koncern Naftowy ORLEN S.A. (PKN ORLEN) Central Europe's largest downstream oil company, hereby announces that with respect to the report No 113/2002 dated 23 December 2002, PKN ORLEN yesterday notified Tankpol Sp. z o.o. (Tankpol) that it will take possession of shares in ORLEN PetroTank Sp. z o.o. (ORLEN PetroTank) with a value PLN 31,210,505.01 which were collateral for a liability between Tankpol and PKN ORLEN.

This amount represents part of Tankpol's liabilities (plus interest as at 30 June 2002) which have not been paid. Any surplus value over the liabilities will be transferred back to Tankpol within 30 days of their valuation.

Prior to redemption PKN ORLEN owned 60 per cent of ORLEN PetroTank and following the redemption it owns 100 per cent.

ORLEN PetroTank's activities include wholesale and retail fuels.

Except for the transfer agreement referred to above, no other relationship exists between the issuer and the issuer's managing or supervising persons, and the transferor of the shares.