PKN ORLEN S.A. obtained the European Commission`s clearance for the acquisition of a controlling stake in AB Mazeikiu Nafta

The Management Board of Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) hereby confirms that on 7 November 2006, PKN ORLEN obtained the European Commission’s clearance for the acquisition of a controlling stake in AB Mazeikiu Nafta (“Mazeikiu”). The receipt of the consent of the European Commission constitutes the satisfaction of one of the closing conditions related to the acquisition by PKN ORLEN of the shares in Mazeikiu pursuant to the Share Purchase and Sale Agreement dated 26 May 2006 (the “Sale Agreement”) between PKN ORLEN and Yukos International UK B.V. (“Yukos International”).

PKN ORLEN and Yukos International have agreed that the purchase by PKN ORLEN of Yukos International’s 53.7% stake in Mazeikiu will be completed no later than 28 February 2007, subject to the satisfaction or waiver of all conditions to closing set forth in the Sale Agreement. PKN ORLEN intends to close the transaction as soon as possible and Yukos International has agreed to cooperate with PKN ORLEN to close as of an earlier date, if requested.

See also: regulatory announcement no 58/2006 dated 26 September 2006, regulatory announcement no 49/2006 dated 4 August 2006, regulatory announcement no 47/2006 dated 13 July 2006, regulatory announcement no 37/2006 dated 9 June 2006, regulatory announcement no 33/2006 dated 26 May 2006.