PKN ORLEN has signed an agreement with Souz Petrolium S.A. for crude oil deliveries

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 15 October 2009 it signed a spot agreement with Souz Petrolium S.A. (previously Souz Petrolium Establishment, Lichtenstein), rue de Saint-Victor 12, Bonnant Warluzel & associes, 1206 Geneva, Switzerland („Souz Petrolium”), for REBCO crude oil deliveries by “Przyjazn” pipeline to PKN ORLEN in October 2009. The estimated net value of the agreement amounts to USD 73.65 million (i.e. approximately PLN 207 million, based on the average PLN/USD exchange rate as of 15 October 2009, as stated by the National Bank of Poland).

The total estimated value of agreements signed between PKN ORLEN and Souz Petrolium during the last 12 months amounts to approximately USD 528.4 million (i.e. approximately PLN 1566 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).

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.