Agreement for terephthalic acid deliveries to Mitsubishi Chemical Corporation

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”), Central Europe’s largest downstream oil company, announces that on April 27th, 2006 it signed an agreement with Mitsubishi Chemical Corporation, based in Tokyo, Japan (“Agreement”). The Agreement was signed for deliveries of 150 thousand tons per year of terephthalic acid (“PTA”) to Mitsubishi Chemical Corporation for the period 1st July 2010 to 31st December 2014, with the possibility of the delivery quantity change at +/- 10%.

The estimated total value of the Agreement in the whole contractual period amounts to approximately PLN 2, 800 m.

The Agreement is valid from the date of signing. PTA deliveries/acceptance will start on July 1st, 2010 and PKN ORLEN is granted with a right to change the date once and no more than for 9 months. After 5 years from the first delivery date, terms of the Agreement can extend the contractual period.

Payment for each delivery is due within 14 days from the date of receiving invoice – delivery will be invoiced once a month. In case of culpable unrealisation of deliveries/acceptance of PTA, the Agreement conditions require payment of penalty at the level of unit margin multiplied by non-delivered/non-accepted quantity of PTA in the certain year.