Purchase of own series 'A' convertible bonds

The Management Board of Polski Koncern Naftowy ORLEN S.A. (PKN ORLEN) discloses that, on the basis of Resolution No 8 dated 15th May 2000, PKN ORLEN on 31 December 2003 repurchased 3,812,860 series 'A' convertible bonds, which were not converted into shares in accordance with the management incentive program.
The price paid by PKN ORLEN for one convertible bond is equal to PLN 20.30.