Revised applications for UNIPETROL, PARAMO and SPOLANA MTO

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe’s largest downstream oil company, announces it has applied to the Czech Securities Commission (the “SC”) for consent to tender mandatory offers for shares issued by UNIPETROL, a.s., PARAMO, a.s. and SPOLANA a.s. The revised applications include all additional information required by the SC.

All questions asked by the SC on 23 and 24 August 2005 were immediately forwarded to the independent expert responsible for the share valuation. The share valuation report includes a new proposed price for Unipetrol shares as a result of the expert’s advice and instructions from the SC referring to shares valuation.

The price proposed by PKN ORLEN is CZK 139 per Unipetrol share. The prices proposed by PKN ORLEN for Paramo and Spolana shares remained unchanged and amounts to CZK 978 per one Paramo share and CZK 155 per one Spolana share.

The new higher price is a result of additional remarks from the SC referring to the methodology used in share valuation report.

On 24 August 2005 the SC set the date for the final decision for 31 August 2005.

(see also: Regulatory Announcement dated 12 August 2005)