Shares held by The Bank of New York

Under Art. 81 par. 1, item 2 of the Law on Public Trading of Securities dated 21 August, 1997 (Official Journal of Bills No 118, item 754 with the later amendments) The Management Board of Polski Koncern Naftowy S.A. informs that according to the Article 147 of "The Act on Public Trading of Securities" Bank Handlowy w Warszawie S.A. acting in the name and on behalf of the Bank of New York NA, seated at 101 Barclay Street, New York, N.Y. 10286 kindly notifies that the Bank of New York NA is in possession of 86 098 778 bearer shares of Polski Koncern Naftowy S.A., the amount that assures of 20.49 percent of votes at the General Meeting of Shareholders.

The 20.49 percent level came into effect as a result of receipt PKN S.A. shares to the Bank of New York account with regard to PKN’s GDR programme on December 2, 1999.