PKN ORLEN has acquired shares in newly registered company: ORLEN International Exploration & Production

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") announces that on 14 March 2008, it was informed that the Kamer Van Coophandel (Chamber of Commerce) in Amsterdam (Netherlands) has registered ORLEN International Exploration & Production BV (“OIEP”), a company headquartered in Amsterdam, which will operate in accordance with Dutch law.

PKN ORLEN has acquired 180 shares in OIEP, with a par value of EUR 100 per share (i.e. approximately PLN 353 based on average EUR/PLN exchange rates as of 14 March 2008, as stated by the National Bank of Poland), representing 100% of the initial capital of OIEP, and representing 100% of the votes at a general meeting of shareholders of OIEP. The acquired shares have been paid for by PKN ORLEN in the form of a cash contribution amounting to EUR 18,000 (i.e. approximately PLN 63,553 based on average EUR/PLN exchange rates as of 14 March 2008, as stated by the National Bank of Poland).

The main business activities of OIEP involve, amongst others: the extraction of crude oil, the extraction of petroleum gas, geological exploration and diagnostic and explorative performance. PKN ORLEN’s investment in OIEP is regarded as long-term.

The Management Board of OIEP consists of two members. One of them works for PKN ORLEN, and the second management board member is a corporate body specialising in the co-management of holding companies.

As the purchased shares represent 100% of the registered capital of OIEP, they are significant assets in accordance with par. 2 section 1 point 52 and section 5 of the Polish Regulation of the Minister of Finance dated 19 October 2005, on current and periodic information to be published by issuers of securities.