Closing of Unipetrol, Paramo and Spolana MTO

Regulatory announcement no 66/2005

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe’s largest downstream oil company, announces that the process of mandatory offers tender for shares issued by UNIPETROL, a.s., PARAMO, a.s. and SPOLANA a.s. has finished on October 12th, 2005. In accordance to the report provided to PKN ORLEN by Patria Finance a.s., broker house carrying out the MTO process, the minority shareholders subscribed as follows:
- for the sale of 49 660 Paramo a.s. shares, standing for 3.7% of initial capital of that Company,
- for the sale of 277 671 Spolana a.s. shares, standing for 3.6% of initial capital of that Company,
- for the sale of 2 461 Unipetrol a.s. shares, standing for, 0,0014 % of initial capital of that Company.
Total value of subscribed shares amounts to CZK 91.97 m, i.e. ca. PLN 12 m based on CZK/PLN average exchange rate as of October 14th, 2005, stated by National Bank of Poland.
The final settlement of the transaction is planned on October 19th, 2005.

(see also regulatory announcement no: 48/2005 dated 19 July 2005, 49/2005 dated 26 July 2005, 52/2005 dated 12 August 2005, 56/2005 dated 26 August 2005, 57/2005 dated 26 August 2005)