Registration of the Plock Industrial and Technological Park

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe’s largest downstream oil company, informs of the registration on 14 July 2004 of the company Plocki Park Przemyslowo-Technologiczny Spolka Akcyjna (“the Company”) based in Plock by a District Court in Warsaw (Poland).

PKN ORLEN owns 50% of shares in the initial capital of the Company, i.e. 50,000 preference shares series “A” with a par value of PLN 10 each, representing 50% of votes of the general meeting of shareholders. The shares were covered before the registration by a cash contribution from PKN ORLEN of PLN 200,000. The rest of the amount i.e. PLN 300,000 will be paid until 31 December 2004.

The Company specialises in:
• managing and directing business activity;
• activity connected with holding management;
• consulting on business activity and management;
• settling, selling and purchasing of properties on its own account.

Every share gives the holder the right to two votes at the General Meeting of shareholders.

The remaining 50% of preference shares in the initial capital of the Company is owned by a legal entity named “Miasto Plock” (municipal borough Plock).

The cash contribution was financed from PKN ORLEN’s equity.

The investment in the Company is a long term one.

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.