Sale of shares in ORLEN Transport Poznan

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") Central Europe's largest downstream oil company, announces that on 30 December 2003, on the basis of a share transfer agreement, the Company sold 108,659 shares in ORLEN Transport Poznan Sp. z o.o. with a par value PLN 100 each, representing 96.39% of the initial capital of ORLEN Transport Poznan Sp. z o.o. and the same number of votes at its shareholders' meeting, for a total price of PLN 10,900,000.00.
The remaining 3.61% of the shares of ORLEN Transport Poznan Sp. z o.o. are in possession of its current and previous employees.

PKN ORLEN has 97.59% of the initial capital in ORLEN Transport Plock Sp. z o.o.

Except in respect of the execution of the share transfer agreements referred to in the above, no other relationship exists between the issuer and the issuer's managing or supervising persons, and the sellers of the shares.