PKN ORLEN has signed an agreement with Star Oil Establishment for crude oil deliveries to Unipetrol RPA

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 7 July 2009 it signed a term agreement with Star Oil Establishment, Pflugstrasse 30, 9490 Vaduz, Principality of Liechtenstein („Star Oil Establishment”), for REBCO crude oil deliveries by “Przyjazn” pipeline to Unipetrol RPA, s.r.o. (“Unipetrol RPA”) in the third quarter 2009. The estimated net value of the agreement amounts to ca. USD 134 million (i.e. approximately PLN 420 million, based on the average PLN/USD exchange rate as of 7 July 2009, as stated by the National Bank of Poland).

Unipetrol RPA is a company, in which 100% of shares is held by Unipetrol a.s. PKN ORLEN owns ca. 63% share in Unipetrol a.s.

The total value of agreements signed between PKN ORLEN and Star Oil Establishment during the last 12 months amounts to ca. USD 568 million (i.e. approximately PLN 1 773 million, based on the average PLN/USD exchange rates as of the dates of signing the agreements, as stated by the National Bank of Poland).

Agreement dated 2 April 2009 is the agreement with the highest amount from among all agreements concluded between PKN ORLEN S.A. and Star Oil Establishment during the last 12 months. The estimated value of the agreement amounts to approximately USD 235 million (i.e. approximately PLN 793 million, based on the average PLN/USD exchange rate as of 2 April 2009, as stated by the National Bank of Poland). The agreement was concluded for REBCO crude oil deliveries to Unipetrol RPA in the period April - December 2009.

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.