PGNiG: Opening of liquidation of Biogazownia Ostrowiec Sp. z o.o.

Opening of liquidation of Biogazownia Ostrowiec Sp. z o.o.Current Report No. 80/2013The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA (“PGNiG”) reports that on May 14th 2013, it was notified that the Annual General Meeting of Biogazownia Ostrowiec Sp. z o.o. (“Biogazownia Ostrowiec”) had resolved to wind up the company and initiate the liquidation process.The decision stems from the fact that the company reported a loss exceeding the total of its statutory reserve funds and capital reserve, as well as half of the share capital.The company's liquidator is Tomasz Gotfryd, President of its Management Board.PGNiG holds the equity interest in Biogazownia Ostrowiec indirectly, through PGNiG Energia SA.Biogazownia Ostrowiec was established to construct and operate a biogas plant in Ostrowiec Świętokrzyski, with Krajowa Spółka Cukrowa S.A. as the strategic partner. The plant was intended to co-generate electricity and heat by burning biomass acquired on the local agricultural market. Biogazownia Ostrowiec had neither commenced operations nor carried out the planned project.