PKN ORLEN sold 5,913 shares in Serwis Lodz Sp. z o.o.

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) Central Europe’s largest downstream oil company, announces that on 11 May 2004, on the basis of share transfer agreements, the Company sold 5,913 shares in Serwis Lodz Sp. z o.o. (“Serwis Lodz”) with a par value of PLN 100 each, representing 97.3% of the initial capital of Serwis Lodz and the same number of votes at its shareholders’ meeting, for a total price of PLN 591,300 to Zaklad Urzadzen Dystrybucyjnych Sp. z o.o. (“ZUD”).

As a result of the sale of the above-mentioned service and maintenance company, PKN ORLEN will not have any holding in Serwis Lodz. As of the date of the transaction, the company employed 28 people.

Moreover, PKN ORLEN holds 99.94% shares in ZUD.

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

About PKN ORLEN SA
PKN ORLEN S.A. is one of the largest companies in Central & Eastern Europe, with listings on the Warsaw and London Stock Exchanges, and trading on the OTC market in the U.S.A. It is Poland’s largest refiner of crude oil and marketer of world-class petroleum and related products. It has a substantial wholesale and retail distribution system that includes the largest network of service stations in Poland. It also has significant financial investments in the telecommunications sector in Poland.