Closing of the subscription process for the sale of Mazeikiu Nafta shares in the MTO announced by PKN ORLEN

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN"), Central Europe’s largest downstream oil company, announces that the subscription process for the sale of the Lithuanian company AB Mazeikiu Nafta (“Mazeikiu Nafta”) shares in the mandatory tender offer announced by PKN ORLEN (“MTO”) has been finished on 15 January 2007.

In accordance with the report provided to PKN ORLEN by AB SEB Vilniaus bankas, broker house carrying out the MTO process, the minority shareholders signed the Mazeikiu Nafta share sale orders for 35,879,247 shares, standing for 5.06 % of the initial capital of Mazeikiu Nafta.
Total value of the purchased shares amounts to LTL 367,762,282, i.e. ca. PLN 412 482 175 based on LTL/PLN average exchange rate as of 15 January 2007, stated by National Bank of Poland.
The final settlement of the transaction is planned on 18 January 2007.

As of 15 January 2007 PKN ORLEN holds 84.20% share in the Mazeikiu Nafta initial capital. That share was reduced, from 84.36% to 84.20%, in comparison to the information previously published in the regulatory announcement no 85/2006 dated 15 December 2006 by PKN ORLEN, due to the registration of the Mazeikiu Nafta initial capital increase on 28 December 2006. After the transaction of the Mazeikiu Nafta shares purchase in the MTO is settled, PKN ORLEN will hold 89.26% share in the Mazeikiu Nafta authorised capital.

See also: Regulatory announcement no 85/2006 dated 15 December 2006, Regulatory announcement no 84/2006 dated 14 December 2006, Regulatory announcement no 83/2006 dated 14 December 2006, Regulatory announcement no 79/2006 dated 4 December 2006, Regulatory announcement no 76/2006 dated 29 November 2006, Regulatory announcement no 68/2006 dated 7 November 2006, 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 and also the record of the Internet transmission of The Extraordinary General Meeting of PKN ORLEN dated 30 November 2006.