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ORLEN Group

No. 76/2007  | 31-12-2007

ORLEN PetroCentrum has signed an agreement with ORLEN PetroTank

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) hereby informs that on 31 December 2007 a PKN ORLEN subsidiary - ORLEN PetroCentrum Sp. z o.o. (“ORLEN PetroCentrum”) signed an agreement with Orlen PetroTank Sp. z o.o. (“Orlen PetroTank”). The agreement, relating to the sale of gasoline and diesel oil by ORLEN PetroCentrum to ORLEN PetroTank, was signed for the period 1 January 2008 to 31 December 2008. The estimated net value of the agreement signed on 31 December 2007 amounts to PLN 1,317 million (gross value: PLN 1,607 million).

Moreover, ORLEN PetroCentrum has concluded within the last twelve months with ORLEN PetroTank a supplement to the agreement regarding the sale of fuels, with a value estimated to amount to PLN 694 million, which was described in regulatory announcement no 93/2006 dated 30 December 2006. The estimated net value of the additional fuel sales (above the value mentioned in regulatory announcement no 93/2006 dated 30 December 2006) amounts to PLN 324 million (gross value: PLN 395 million).

The total estimated value of all of the agreements concluded by ORLEN PetroCentrum with ORLEN PetroTank within the previous twelve months amounts to PLN 1,641 million (gross value: PLN 2,002 million).

In accordance with the “Regulation of the Minister of Finance dated 19 October 2005 on current and periodic information to be published by the issuers of securities” the agreements signed by ORLEN PetroCentrum constitutes a “significant agreement” due to the fact that their total value within the termination period exceeds 10% of PKN ORLEN’s equity.

PKN ORLEN holds 100% of the shares in Orlen PetroCentrum and 90% of the shares in ORLEN PetroTank.

See also: Regulatory announcement 93/2006 dated 30 December 2007.

This announcement has been prepared pursuant to par. 5 section 1 subsection 3 and § 9 of the Regulation of the Minister of Finance dated October 19th, 2005 on current and periodic information to be published by issuers of securities (Journal of Laws No. 209, item 1744).