PKN ORLEN has signed an agreement with TOTSA Total Oil Trading S.A. for crude oil deliveries to ORLEN Lietuva

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 21 December 2009 it signed a spot agreement with TOTSA Total Oil Trading S.A., Geneve, Switzerland („TOTSA”), for crude oil deliveries to the refinery AB ORLEN Lietuva (“ORLEN Lietuva”). The estimated net value of the agreement amounts to approximately USD 53 million (i.e. approximately PLN 155 million, based on the average PLN/USD exchange rate as of 21 December 2009, as stated by the National Bank of Poland).

The total estimated value of agreements signed between PKN ORLEN and TOTSA during the last 12 months amounts to approximately USD 553.7 million (i.e. approximately PLN 1 661 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 12 November 2009 is the agreement with the highest amount from among all agreements concluded between PKN ORLEN and TOTSA during the last 12 months. The estimated value of the agreement amounts to approximately USD 55 million (i.e. approximately PLN 153 million, based on the average PLN/USD exchange rate as of 12 November 2009, as stated by the National Bank of Poland). The agreement was concluded for crude oil deliveries to ORLEN Lietuva.

PKN ORLEN S.A. owns 100% of ORLEN Lietuva shares.

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.