Dismissal of Mr Walczykowski from the Management Board

PKN ORLEN SA Management Board Changes

Polski Koncern Naftowy ORLEN SA (“PKN ORLEN”), Central Europe’s largest downstream oil company, hereby announces that on August 16, 2004 the Supervisory Board of PKN ORLEN reviewed the manner of Mr Jacek Walczykowski’s appointment to the position of President of the Management Board of PKN ORLEN.

Following this review, the Supervisory Board unanimously adopted resolutions to dismiss Mr Jacek Walczykowski from the position of President of the Management Board of PKN ORLEN and General Director, and appoint Mr Janusz Wisniewski, Vice President of the Management Board of PKN ORLEN, to act as temporary chairperson of the Management Board until a new President is appointed, according to the procedure agreed by the Supervisory Board.

The Supervisory Board agreed that the appointment of the new President would be made in consultation with the same personnel advisor as previously envisaged.

About PKN ORLEN
PKN ORLEN 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.