PKN ORLEN has signed an agreement with STASCO for crude oil deliveries to ORLEN Lietuva

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 23 January 2012 it signed a spot agreement with Shell International Trading and Shipping Company Limited, London, Great Britain („STASCO”), for crude oil deliveries to AB ORLEN Lietuva (“ORLEN Lietuva”). The estimated net value of the agreement amounts to approximately USD 80 million (i.e. approximately PLN 267 million, based on the average PLN/USD exchange rate as of 23 January 2012, as stated by the National Bank of Poland).

The total estimated value of agreements signed between PKN ORLEN and STASCO in the period from 2 September 2011 to 23 January 2012 amounts to approximately USD 634 million (i.e. approximately PLN 2 104 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 5 October 2011 is the agreement with the highest amount from among all agreements concluded between PKN ORLEN and STASCO in the period from 2 September 2011 to 23 January 2012. The estimated value of the agreement amounts to approximately USD 81 million (i.e. approximately PLN 268 million, based on the average PLN/USD exchange rate as of 5 October 2011, 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.

See also: regulatory announcement no 140/2011 dated 1 September 2011.