The Czech SEC gave consent to propose MTO for UNIPETROL, PARAMO and SPOLANA shares

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe's largest downstream oil company, announces that it has received from the Czech Securities Commission (the "SC") the consent to propose mandatory tender offers ("MTOs") for shares issued by UNIPETROL, a.s., PARAMO, a.s. and SPOLANA a.s.

Finally, the SC has approved the applications and prices respectively: CZK 139 per UNIPETROL share, CZK 978 per PARAMO share and CZK 155 per SPOLANA share.

The MTOs will be valid from the moment of their publication in newspapers as required by UNIPETROL’s Articles of Association. PKN ORLEN intends to publish the MTOs until the end of next week. Voting rights at UNIPETROL and SPOLANA will be restored by the force of law when the MTOs are published.

(Refer also to regulatory announcements dated 19 July 2005, 26 July 2005, 12 August 2005 and 26 August 2005)