Disallowance of the exercise of voting rights attached to the shares of UNIPETROL and SPOLANA

Further to regulatory announcement No. 48/2005 of July 19, 2005, the Management Board of Polski Koncern Naftowy ORLEN S.A. (hereinafter “PKN ORLEN” or the “Company”) hereby informs that, in connection with the Company’s failure to announce by July 25, 2005, the required tenders for the shares of UNIPETROL, a.s., PARAMO, a.s. and SPOLANA, a.s., as mandatory under Czech law, as of July 26, 2005 until the day of announcing the aforementioned tenders PKN ORLEN, and persons acting in concert with PKN ORLEN, may not exercise the voting rights attached to the shares of UNIPETROL, a.s. and SPOLANA, a.s which are held by them. Additionally, within the time period in question, the Czech Securities Commission (the “SC”) may issue a decision prohibiting PKN ORLEN from exercising any other rights attaching to the shares of the aforementioned entities.

PKN ORLEN intends immediately to file with the SC new applications for consent to be granted to PKN ORLEN to announce mandatory tender offers for the shares issued by UNIPETROL, a.s., PARAMO, a.s. and SPOLANA, a.s.

If a General Shareholders’ Meeting of UNIPETROL, a.s. or SPOLANA, a.s. were to be held before the announcement of the tenders, PKN ORLEN will apply to the SC for a suspension of the prohibition regarding the exercise of the voting rights attached to the shares of UNIPETROL, a.s. and SPOLANA, a.s.; as, according to Czech Law, the SC can make such a decision.