Signing multi-currency debts financing agreement

Regulatory announcement no 77/2005 dated December 23rd, 2005

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe’s largest downstream oil company, announces that on 22 December 2005 it signed a Multi-currency Debts Financing Agreement structured as a club-deal type, in the amount of EUR 1 000 000 000, i.e. PLN 3 833 300 000, based on a EUR/PLN average exchange rate as of December 22nd, 2005, as quoted by the National Bank of Poland.
Parties of the agreement are:
PKN ORLEN S.A. as a debtor,
and
ABN Amro Bank N.V., BNP Paribas, Bank BPH S.A., Bank Polska Kasa Opieki S.A., The Bank of Tokyo-Mitsubishi Ltd., CALYON S.A., Citibank International Plc., ING Bank Slaski S.A., Kredyt Bank S.A., Powszechna Kasa Oszczednosci Bank Polski S.A., Societe Generale S.A. Department in Poland
as a creditor.

Duration of the debts financing regards to 5 years from the moment of signing the debts financing agreement, and includes two options allowing the contractual period to be extended for one further year.

The debt can be exercised in EURO, USD, PLN, CZK.
Debt repayment is not secured through the pledge on the assets of PKN ORLEN.

Funds from the debt facility will be used for the repayment of the currently held debt at the company and for financing the activity of PKN ORLEN.