The agreement for crude oil supply to Unipetrol Rafinerie

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”), Central Europe’s largest downstream oil company, announces that on September 29th 2005 an agreement was concluded with Unipetrol Rafinerie a.s.. Starting from January 1st 2006 PKN ORLEN will be the exclusive supplier of REBCO crude oil to Unipetrol Rafinerie a.s.. The estimated gross value of the contract is ca. USD 1bn, i.e. ca. PLN 3.239bn per year, based on USD/PLN average exchange rate of 3,2390 as of September 29th, 2005, stated by National Bank of Poland.

The parties will also negotiate the conditions of the sweet crude oil supply in two months time.
The agreement refers to the creation by PKN ORLEN Capital Group of a crude oil center to supply the refiners in Plock, Litvinov and Kralupy.

PKN ORLEN owns 62.99% of shares in Unipetrol a.s. and Unipetrol a.s. owns 100% of shares in Unipetrol Rafinerie a.s.