Nafta Polska was a selling party in the transactions regarded shares of PKN ORLEN

Under the note of Nafta Polska S.A. the Management Board of Polski Koncern Naftowy S.A. wishes to announce that from July 3rd to July 6th, 2000 Nafta Polska S.A. was a selling party in the below transactions. The transactions regarded shares of Polski Koncern Naftowy ORLEN S.A.:

1. On July 3rd, 2000 - transfer of PKN ORLEN shares to The Bank of New York's account in order to issue Global Depositary Receipts (GDRs);
2. On July 5th, 2000 - transfer of PKN ORLEN shares to the Retail Tranche Investors due to clearance of a special session held on July 1st, 2000 at Gielda Papierow Wartosciowych w Warszawie S.A. (Warsaw Stock Exchange)
3. On July 6th, 2000 - sale of PKN ORLEN shares in a public offering, through the over-the-counter transaction organised and co-ordinated by Dom Maklerski WBK S.A. (Brokerage House WBK S.A.) under permission of the National Securities and Exchange Commission issued in accordance with Art.92 of the Law on Public Trading of Securities
4. On July 6th, 2000 - sale to the International Institutional Investors of these GDRs that were issued on July 3rd, 2000

Due to the above transactions Nafta Polska S.A. owns, as of July 7th, 2000, 75.873.997 ordinary bearer shares of PKN ORLEN S.A., the amount that assures of 75.873.997 votes at the General Meeting of Shareholders of PKN ORLEN S.A., which equals 18.06 percent of the share capital and assures of 18.06 percent of votes at the General Meeting of Shareholders of PKN ORLEN S.A.

Additionally, Nafta Polska S.A. owns 7.125.000 GDRs, representing 14.250.000 shares of PKN ORLEN S.A., the amount that assures of 14.250.000 votes at the General Meeting of Shareholders of PKN ORLEN S.A., which equals 3.39 percent of the share capital and assures of 3.39 percent of votes at the General Meeting of Shareholders of PKN ORLEN S.A. Upon a number of owned GDRs, Nafta Polska S.A. is authorised to send proxies to The Bank of New York with the instruction of voting at the General Meeting of Shareholders of PKN ORLEN S.A.