PKN ORLEN`s subsidiary - ORLEN Deutschland - has purchased bonds issued by PKN ORLEN

Polski Koncern Naftowy ORLEN Spolka Akcyjna ("PKN ORLEN") hereby informs that in order to optimise the management of financial liquidity within the PKN ORLEN Capital Group, on 10 June 2008 PKN ORLEN issued short term bonds to its subsidiary, ORLEN Deutschland AG (“ORLEN Deutschland”). The bonds were issued in accordance with the Bond Issue Programme signed by PKN ORLEN and a syndicate of 6 banks in November 2006.

PKN ORLEN intends to use the financial resources provided by the bond issue for financing its current activities. The bonds were purchased by ORLEN Deutschland in order to manage its short term liquidity.

The bonds were issued in compliance with the Law on Bonds dated 29 June 1995 (unified text: Journal of Laws, 2001 No 120, point 1300 with subsequent changes) in euro, as bearer, dematerialized, unsecured, and zero-coupon securities. The redemption of the bonds will be at their nominal value.

The bonds purchased today by ORLEN Deutschland were issued by PKN ORLEN with the following issue conditions: Series: ORLEN033100708; value of the bond issue EUR 25 000 000 (i.e. PLN 84 462 500 based on EUR/PLN average exchange rate as of 10 June 2008, stated by National Bank of Poland), composed of 1 000 bonds with a nominal value of PLN 25 000 per bond (i.e. PLN 84 462.50 based on EUR/PLN average exchange rate as of 10 June 2008, stated by National Bank of Poland).
- Date of issue: 10 June 2008
- Redemption date: 10 July 2008
- Yield on bonds: based on market conditions, unit nominal price amounted to EUR 24 907.12 (i.e. PLN 84 148.70 based on EUR/PLN average exchange rate as of 10 June 2008, stated by National Bank of Poland).

PKN ORLEN owns 100% of the registered capital of ORLEN Deutschland.

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

This announcement has been prepared pursuant to par. 5 section 1 subsection 6, and § 12 of the Regulation of the Minister of Finance dated 19 October, 2005 on current and periodic information to be published by issuers of securities (Journal of Laws No. 209, item 1744).