The Prague Court dismissed a petition for the reversal of an award of the Court of Arbitration in the fourth case between Agrofert Holding and PKN ORLEN

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") announces that on 24 January 2014 the Prague Court (Czech Republic) dismissed a petition of Agrofert Holding a.s. (“AGH”) for the reversal of an award of the Court of Arbitration at the Economic Chamber of the Czech Republic and the Agrarian Chamber of the Czech Republic in Prague (“Arbitration Court”) passed on 21 October 2010 (delivered to PKN ORLEN on 3 November 2010) in 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 meant that AGH’s claims were wholly dismissed by the Arbitration Court and AGH was obliged to cover the court fees incurred by PKN ORLEN. AGH submitted in the common court of law in Prague, as the court with jurisdiction over the place of issuance of the judgment, a petition for the reversal of the award, which PKN ORLEN received on 3 October 2011. PKN ORLEN standpoint is that the decision included in judgment of the Arbitration Court dated 21 October 2010 is correct and there is no grounds for its reversal. In today judgment the common court of law in Prague shared PKN ORLEN opinion.

In the opinion of PKN ORLEN the decisions included in judgment of the Arbitration Court dated 21 October 2010 and in the judgment of the common court of law in Prague dated 24 January 2014 are correct. PKN ORLEN will take all necessary means to remain the judgments in force.

See also: regulatory announcements: no. 161/2011 dated 4 October 2011, 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.