PKN ORLEN and ORLEN Deutschland AG signed a short term loan agreement

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe’s largest downstream oil company, announces that on 23 December 2004 PKN ORLEN and ORLEN Deutschland AG signed a short term loan agreement at the amount of EUR 60m for the period from 27 December 2004 till 28 February 2005 to secure the tax liabilities of ORLEN Deutschland AG. The tax liabilities come out of ORLEN Deutschland’s fuel trading operations.

PKN ORLEN holds 100% stake in ORLEN Deutschland AG.