Mazeikiu Nafta signs contract with GT Trading OY

Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) announces that on 31 January 2008 AB Mazeikiu Nafta finished the negotiations process and signed annual agreements for sales of gasoline, diesel and heating oil by sea. As part of this process two agreements have been signed with GT Trading OY, headquartered in Espoo, Finland.

Under the terms of the first agreement AB Mazeikiu Nafta will sell gasoline to GT Trading OY in 2008 (“agreement on the sale of gasoline”).
Under the terms of the second agreement AB Mazeikiu Nafta will sell diesel to GT Trading OY in 2008 (“agreement on the sale of diesel”).

The estimated value of the agreement for the sale of gasoline amounts to approximately USD 350 million, i.e. PLN 855 million based on the average USD/PLN exchange rate as of 31 January 2008, stated by National Bank of Poland.
The estimated value of the agreement for the sale of diesel amounts to approximately USD 600 million, i.e. PLN 1 466 million based on the average USD/PLN exchange rate as of 31 January 2008, stated by National Bank of Poland.

The total estimated net value of the above mentioned agreements amounts to approximately USD 950 million, i.e. PLN 2 322 million based on the average USD/PLN exchange rate as of 31 January 2008, stated by National Bank of Poland.

PKN ORLEN holds c. 90% shares in AB Mazeikiu Nafta.

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 above mentioned agreements constitute “significant agreements” due to the fact that their total value exceeds 10% of PKN ORLEN’s equity.