Impact of LIFO valuation of inventories on the financial results of PKN ORLEN in Q3 2005 and nine months to end-September 2005

Regulatory announcement no 69/2005 dated 14 November 2005

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe’s largest downstream oil company, can now outline the impact of the LIFO method of valuation of inventories on the unconsolidated financial results of PKN ORLEN, and also the consolidated financial results of the PKN ORLEN Capital Group for Q3 2005 and the nine months to end-September 2005.