PKN ORLEN has signed an agreement with Gunvor International B.V. Amsterdam for crude oil deliveries

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 26 May 2009 it signed a spot agreement with Gunvor International B.V. Amsterdam, Geneva Branch ("Gunvor International B.V. Amsterdam"), for REBCO crude oil deliveries by sea to PKN ORLEN in June 2009. The estimated net value of the agreement amounts to approximately USD 40 524 600 (i.e. approximately PLN 129 467 992, based on the average USD/PLN exchange rate as of 26 May 2009, as stated by the National Bank of Poland).

The total value of agreements signed between PKN ORLEN and Gunvor International B.V. Amsterdam in the period between 6 February 2009 to 26 May 2009 amounts to approximately USD 456 070 222 (i.e. approximately PLN 1 562 964 213, based on the average USD/PLN exchange rates as of the dates of signing the agreements, as stated by the National Bank of Poland).

In accordance with the "Regulation of the Minister of Finance dated 19 February 2009 on current and periodic information to be published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state" the abovementioned agreements constitute a "significant agreement" due to the fact that their total value exceeds 10% of PKN ORLEN's equity.

See also regulatory announcement 12/2009 dated 6 February 2009.