Nafta Polska's rejects ORLEN / Rotch's offer

The Management Board of Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe's largest downstream oil company, announces that today Nafta Polska S.A. ("Nafta Polska") has rejected the offer made by the Consortium of Rotch Energy and PKN ORLEN to purchase a 75% stake in the LOTOS Group (formerly Rafineria Gdanska). Nafta Polska did not provide any further information about how they reached this decision.

In a separate letter, Nafta Polska notified the Board of PKN ORLEN that the tender for this stake in the LOTOS Group has been concluded without a result.

The Board of PKN ORLEN is currently analysing the impact of Nafta Polska's decision on PKN ORLEN's strategic plans regarding possible co-operation between PKN ORLEN and the LOTOS Group.