PKN ORLEN sold 4,000 shares in ORLEN Polimer

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) Central Europe’s largest downstream oil company, announces that on 12 May 2004, on the basis of share transfer agreements, the Company sold 4,000 shares in ORLEN Polimer Sp. z o.o. (“ORLEN Polimer”) with a par value of PLN 500 each, representing 100% of the initial capital of ORLEN Polimer and the same number of votes at its shareholders’ meeting, for a total price of PLN 5,803,782.41 to Brenntag Polska Sp. z o.o.

As a result of the sale of the above-mentioned company, PKN ORLEN will record a gross profit amounting to PLN 3,803,782.41. As of the date of the transaction, the company employed 33 people.

Following the above transaction, PKN ORLEN will not have any holding in ORLEN Polimer.

ORLEN Polimer’s activities include wholesale and retail plastics.

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.