PKN ORLEN subsidiary: initial capital increase

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe’s largest downstream oil company, announces that it was informed on September 27th, 2006 about the registration, by a District Court in Warsaw (Poland) on 19th August 2006, of an increase in the initial capital of PKN ORLEN’s subsidiary – ORLEN Eko Sp. z o.o. (“ORLEN Eko”), a limited liability company.

The initial capital of ORLEN Eko was increased by the placing of 40,000 new, equal and indivisible shares, of the value of PLN 500 per share, and total value of PLN 20,000,000. The initial capital of ORLEN Eko after registration of the initial capital change amounts to PLN 22,000,000.

All newly issued shares, in the number of 40,000, were covered by a cash contribution by PKN ORLEN amounting to PLN 20,000,000.
PKN ORLEN owns 100% of ORLEN Eko shares (44,000 shares of nominal value PLN 500 per share), which represents 100% of the total number of votes at the General Meeting of Shareholders of ORLEN Eko.
The total number of votes at the General Meeting of Shareholders of ORLEN Eko after the change in the initial capital amounts to 44,000.