PKN ORLEN loan for ORLEN Transport Krakow

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe’s largest downstream oil company, announces that on 24 August 2005 it signed a long term loan agreement for the amount of PLN 2.7m with ORLEN Transport Krakow Sp z o.o. (“ORLEN Transport Krakow”). The term of the loan runs from 24 August 2005 to 31 July 2009.

The debt facility will be used to repay the liabilities of ORLEN Transport Krakow Sp. z o. o. owed to other subsidiaries of PKN ORLEN Capital Group and for the financing of current activity.

The loan will be repaid over 48 months in equal monthly instalments. Interests will be calculated according to the floating exchange rate.

PKN ORLEN holds a 98.41% stake in ORLEN Transport Krakow.