Agrofert Holding submitted a petition for the reversal of an award of a court of arbitration in the fourth case between PKN ORLEN and Agrofert Holding

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") announces that on 3 October 2011 it received from the Prague Court (Czech Republic) a petition for the reversal of an award of a court of arbitration in the fourth case, which was running in the Court of Arbitration at the Economic Chamber of the Czech Republic and the Agrarian Chamber of the Czech Republic in Prague due to an action from Agrofert Holding a.s.(“AGH”) against PKN ORLEN.

The citation submitted by AGH against PKN ORLEN referred to the payment of compensation for damages caused by unfair competition, the illegal smearing of AGH reputation, and for the failure to perform according to the agreements signed by PKN ORLEN and AGH in the years 2003-2004 in the amount of CZK 19 464 473 000.

The judgment dated 21 October 2010 delivered to PKN ORLEN on 3 November 2010 meant that AGH’s claims were wholly dismissed and AGH was obliged to cover the court fees incurred by PKN ORLEN. AGH enforced the award of the arbitration court and refunded the awarded costs to PKN ORLEN. Simultaneously, using the right under the Czech Code of Civil Procedure, AGH submitted in the common court of law in Prague, as the court with jurisdiction over the place of issuance of the judgement, a petition for the reversal of the award.

PKN ORLEN will take all necessary means to remain the judgment of the arbitration court dated 21 October 2010 unreversed. In the opinion of PKN ORLEN the decision included in judgment of the arbitration court dated 21 October 2010 is correct and there is no grounds for its reversal.

See also: regulatory announcements: no. 184/2010 dated 3 November 2010, no. 89/2009 dated 1 July 2009, no. 82/2006 dated 13 December 2006, no. 46/2006 dated 6 July 2006, no. 27/2006 dated 10 May 2006, no. 12/2006 dated 20 February 2006, no. 8/2006 dated 25 January 2006, no. 41/2004 dated 4 June 2004 and no. 85/2003 dated 20 November 2003.