Estimated level of PKN ORLEN liabilities as of the end of 2006

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”), Central Europe’s largest downstream oil company, respecting the equal access to the information, due to the fact that tomorrow it will send an order for non-public bonds issue planned for 27 February 2007 (“Bonds issue”), announces that estimated level of PKN ORLEN liabilities (unconsolidated numbers) as of 31 December 2006 amounts to PLN 11 147 756 807.05. These number includes short-term as well as long-term trade and financial liabilities.

The Bonds will be issued within an Agreement for a Bond Issue Programme, signed on 27 November 2006 by PKN ORLEN as the Issuer, BANK BPH S.A. as Issue Agent, Payment Agent, Documentation Agent, Programme Co-organizer and Dealer, and BANK POLSKA KASA OPIEKI S.A., BRE BANK S.A., ING BANK ŚLĄSKI S.A., PKO BANK POLSKI S.A., SOCIETE GENERALE S.A. DIVISION IN POLAND, as Agents, Programme Co-organizers and Dealers („Programme”). PKN ORLEN’s debt limit connected with the Programme realisation amounts to PLN 2 000 000 000, or the of equivalent of this amount in other currencies. The planned PKN ORLEN’s debt limit connected with the Bonds issue planned for 27 February 2006 amounts to PLN 750 000 000.

See also: regulatory announcement no 75/2006 dated 27 November 2006.