Sale of shares in Serwis Gdansk

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") Central Europe's largest downstream oil company, hereby announces that on 4July 2003 on the basis of the share transfer agreements the Company sold:
371 shares in Serwis Gdansk Sp. z o.o. ("Serwis Gdansk") with a par value of PLN 600 each, representing 100% of the initial capital of Serwis Gdansk and the same number of votes at its shareholders' meeting, for the total price of PLN 452,620. Out of 371 shares:
93 shares were sold to Mr Andrzej Kluska for the total price of PLN 113,460;
93 shares were sold to Mr Adam Ossowski for the total price of PLN 113,460;
93 shares were sold to Mr Mieczyslaw Zajaczkowski for the total price of PLN 113,460;
92 shares were sold to Mr Stanislaw Gala for the total price of PLN 112,240;
As a result of the sale of the above-mentioned service company PKN ORLEN shall record gross profit at the level of PLN 230,020. As of the date of transaction the company employed 39 people. Serwis Gdansk provided numerous services including maintenance of retail outlets and storage depots.

Except for the relations connected with the execution of the share transfer agreements referred to in the above no other relations exist between the issuer and the issuer's managing or supervising persons, and the sellers of the shares.