Initial capital changes in Rafineria Trzebinia

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe’s largest downstream oil company, informs that on 28 January 2005 a Register Court in Krakow registered a change in both the amount and structure of the initial capital of Rafineria Trzebinia S.A. (“Rafineria Trzebinia”), based in Trzebinia, Poland.

The initial capital of Rafineria Trzebinia was reduced from PLN 43,041,890 to PLN 42,995,350 and divided into 4,299,535 shares with a par value of PLN 10 each. Each share entitles a single vote at the general meeting of shareholders.

The capital was reduced to fulfill Resolution no. 1, passed on 28 December 2004 by the Extraordinary General Meeting of Rafineria Trzebinia Shareholders, regarding the remission of 4,654 common shares of Rafineria Trzebinia.

Consequently PKN ORLEN now owns 77.15% of Rafineria Trzebinia shares. The remainder is held by:
- The State Treasury – 9.19%
- Others – 13.66%

All of these shares carry voting rights.