Agreement to supply crude oil to PKN ORLEN

Regulatory announcement no 71/2005 dated November 17th, 2005

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”), Central Europe’s largest downstream oil company, announces that on November 16th 2005 an agreement was concluded with PETRACO Oil Company Limited, headquartered in Guernsey. Starting from December 1st 2005, and with an agreement period to December 31st 2006, PKN ORLEN will be supplied by PETRACO with 2.7 m tonnes of REBCO crude oil, based on Rosneft reserves. The conditions of the agreement allow the contractual period to be extended for two further years. The estimated gross value of the deliveries is ca. USD 1bn, i.e. ca. PLN 3.392 bn, based on a USD/PLN average exchange rate of 3.3915 as of November 16th, 2005, as quoted by the National Bank of Poland.

There are no capital connections between PKN ORLEN and the PETRACO Oil Company Limited.