Termination of PKN ORLEN - Rotch consortium

The Management Board of Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe's largest downstream oil company, announces that it has notified Rotch Energy Limited of the termination of the Consortium Agreement between PKN ORLEN and Rotch Energy Limited signed on 30 October 2002.

The Consortium's objective, to purchase a 75% stake in the LOTOS Group, has become impossible to reach as a result of Nafta Polska's decision to reject the PKN ORLEN - Rotch offer.