Initial capital increase in ORLEN Powiernik

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe’s largest downstream oil company, informs that on 7th June 2004 a Register Court in Warsaw registered a change in both the amount and structure of the initial capital of ORLEN Powiernik, based in Plock, Poland. The initial capital of ORLEN Powiernik was increased from PLN 4,000 to PLN 25,000 and divided into 50 shares with a par value of PLN 500 each. The capital was increased through a cash contribution from PKN ORLEN.

The total number of votes in hand of PKN ORLEN, after the registration of the initial capital increase, is 50. PKN ORLEN owns 100 per cent of the total shares in ORLEN Powiernik.