Signing the agreement for terephthalic acid deliveries to SK EUROCHE

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”), Central Europe’s largest downstream oil company, announces that on May 31st, 2006 it signed an agreement with SK EUROCHEM, based in Wloclawek, Poland (“Agreement”). The Agreement was signed for the period 1st July 2010 to 31st December 2014 for the deliveries to SK EUROCHEM 25-50 thousand tons of terephthalic acid (“PTA”) during the first year of contractual period and deliveries of 100-120 thousand tons of PTA per year in the next years of contractual period.
The estimated total value of the Agreement in the whole contractual period amounts to approximately PLN 2,100 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.