Correction of Regulatory announcement no 114/2010 dated 25 June 2010 regarding changes in the PKN ORLEN Supervisory Board

Polski Koncern Naftowy ORLEN S.A. (“Company”, “PKN ORLEN”) supplements the Regulatory announcement no 114/2010 dated 25 June 2010 regarding changes in the PKN ORLEN Supervisory Board by information mentioned in Par. 28 in conjunction with Par. 5.1.22 of 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 regarding Ms. Angelina Sarota, Mr. Maciej Mataczynski, Mr. Grzegorz Borowiec, Mr. Marek Karabula, Mr. Krzysztof Kolach, Mr. Piotr Wielowieyski and Mr. Janusz Zielinski.

There is:

Ms. Angelina Sarota, Mr. Maciej Mataczynski, Mr. Grzegorz Borowiec, Mr. Marek Karabula, Mr. Krzysztof Kolach, Mr. Piotr Wielowieyski and Mr. Janusz Zielinski were previous Members of the PKN ORLEN Supervisory Board. Information regarding the education, qualifications and professional experience of those persons were provided by the Company in the following regulatory announcements, available on the Company’s web site www.orlen.pl: no 47/2008 dated 13 June 2008, no 12/2008 dated 7 February 2008, no 43/2007 dated 6 July 2007.

The newly elected Members of the PKN ORLEN Supervisory Board, except for their duties in PKN ORLEN are not involved in any other activity that competes with PKN ORLEN; they are not a partner of any competing company; and they are not a member of any board of a competing incorporated company. The newly elected Members of the PKN ORLEN Supervisory Board are not on the List of Insolvent Debtors kept on record on the National Court Register Act.

Should be:

Ms. Angelina Sarota graduated from the Faculty of Law and Administration Jagiellonian University, Domestic School of Public Administration and post diploma studies in Strategic Management of Human Resources at the Leon Kozminski Academy of Entrepreneurship and Management. She is a civil servant. From 2001 to 2003 she worked in Process Deputy Department and in Restructuring and Public Help Department at the Ministry of the State Treasury. At the Ministry of Science and Information in 2003 she was a ministerial advisor at the Minister’s Office, from 2003 to 2005 she held the position of Director’s Deputy at the Department of Strategy and Science Development, in 2005 she was acting as the Law Director. From November 2005 she is a director of the Law Department at the Chancellor of the Prime Minister. She has passed an exam for the member of supervisory boards of companies with the share of the State Treasury. She was a member of supervisory boards of the following companies: Cerg limited company in Gliwice, Chemar limited company in Kielce, Vice Chairman of the supervisory board of the Warsaw Technology Park S.A. From June 2008 to June 2010 Ms. Angelina Sarota was a Secretary of the PKN ORLEN Supervisory Board.

Mr. Maciej Mataczyński – law science doctor, legal adviser, specialist in commercial and European law. Graduated from the Faculty of Law of Adam Mickiewicz University, holding a scholarship of the Fulbright Commission at the Harvard Law School and T.M.C Assera Institute in Hague. Hired as a tutor at the European Law Professorship at the Faculty of Law of Adam Mickiewicz University in Poznan. From 2008 partner at the Sowislo and Topolewski law office in Poznan. Mr. Mataczynski is also an author of many law publications in Poland and abroad. From January to November 2006 Mr. Mataczynski was an independent Member of the PKN ORLEN Supervisory Board – as a Secretary and later as Chairman of the PKN ORLEN Supervisory Board. Again from February 2008 to June 2010, Mr. Mataczynski was a Chairman of the PKN ORLEN Supervisory Board. From June 2008 he is also a member of the TC Debica SA supervisory board – as a Secretary and a member of the audit committee.

Mr. Grzegorz Borowiec – graduated from Gdynia Maritime University, Faculty of Navigation – 1987, National School of Public Administration - 1997, Master of Business Administration – Warsaw University/University of Illinois - 2002, Warsaw University, Faculty of Management (2002), nominee officer in the civil service. From 1987 to 1994 he worked as a mate for Polish and foreign ship owners in the trading fleet. From April 1997 to June 1998 he was a deputy Director of the Ministry of the State Treasury Office dealing with a free of charge grant of shares to the entitled employees. From 1998 – 2001 he worked as a General Director in the Energy Regulation Authority. From August 2001 he was the Director of Finance Department in Ministry of Finance. Member of the Supervisory Board of WSK “Rzeszow” (1998) and PKP SKM Fast City Railway in Treblecity of Gdansk, Gdynia, Sopot (from 2002). He graduated from domestic and foreign scholarships. He also graduated from many training courses with certificates, among others: Internal Auditor Certificate (2005), NATO security Certificate (NATO secret – 2002), Power Sector Reform – USAID, USA (1999) and training in projects management PRINCE2 (2006). From 12 December 2007 he was the General Director of the Ministry of the State Treasury. From October 2009 Mr. Grzegorz Borowiec is a member of the TVP supervisory board – representing the Minister of the State Treasury. From January 2010 he is a member of the audit committee at The Ministry of Regional Development. In May 2010 he was appointed for an examiner by the Board of Examiners for candidates for auditors. From February 2008 to June 2010 Mr. Grzegorz Borowiec was a member of the PKN ORLEN Supervisory Board.

Mr. Marek Karabula - has obtained a Masters degree in economic studies. He graduated in 1996 from Management Faculty of Akademia Ekonomiczna in Cracow. Since January 2010 he is the Vice-president of the Industrial Development Agency Management Board. From January 2008 to January 2010 he has been CEO of Nafta Polska S.A. In the period from December 2005 to January 2007 he was a member of the Management Board in Rafineria Trzebinia S.A.; from July 2006 to January 2007 he was a member of Management Board of ORLEN Oil Sp. z o.o.; from December 2004 to October 2005 he was Vice-president of the Management Board of Browary Polskie Brok-Strzelec S.A.; from October 2003 to September 2004 he was Vice-president of the Management Board of AUTOSAN S.A.; from December 2000 to January 2002 he was Vice-president of the Management Board of Browary Dolnośląskie Piast S.A.; from December 1994 to October 2000 he was Vice-president of the Management Board of Browary Okocim S.A. In 2005 he passed the exam for candidates for members of Supervisory Board in state-owned companies. From November 2008 he is a member of PGNiG S.A. Supervisory Board. From February 2008 to June 2010 Mr. Marek Karabula was a Vice-chairman of the PKN ORLEN Supervisory Board.

Mr. Krzysztof Kolach – has obtained a Masters technical degree. In 1986 he graduated from the Agriculture Faculty at the Agriculture and Technical Academy, Bydgoszcz. In 1986 he completed a post-graduate pedagogical study in Bydgoszcz. His professional experience is related to state and local administration authorities. From March to November 1998 he was a President of PPH Hetman in Bedlno. From March 1994 to February 1998 he was Governor of Plock voivodship;; from June 1990 to March 1994 and from 1998 until now, he has been Head of Bedlno Community. 1996 he completed the state exam required for members of Supervisory Boards of companies owned by State Treasury. From February 2008 to June 2010 Mr. Krzysztof Kolach was a member of the PKN ORLEN Supervisory Board.

Mr Piotr Jan Wielowieyski has obtained a Masters degree in economics at the Faculty of Economic Sciences of Warsaw University in 1978. From 2008 he is a member of Libella Management Board. In years 2004-2007 he was a management board member of Foksal NFI S.A. (public company). From 2003 to 2004 Mr Piotr Jan Wielowieyski was a President and Board member of Zachodni NFI S.A. (public company). From 1998 to 2002 he was a Board member and Investment Director of PBK Inwestycje S.A.. In the period 1996-1998 he was a Board member of Fidea Menagement Sp. z o.o. (Entity managing Foksal NFI S.A.). From 1991 to 1996 he worked at the World Bank (IFC) as a Corporate Finance Officer. He completed studies for Investment advisor and broker analysts led by Centrum Prywatyzacji BiF in 1998. He passed the exam for candidates of the supervisory boards in companies with the State Treasury as a shareholder in 1999. So far he has held positions on the supervisory boards of 11 companies, 3 of them were public companies. From February 2008 to June 2010 Mr Piotr Jan Wielowieyski was a member of the PKN ORLEN Supervisory Board.

Mr. Janusz Zielinski, is a full professor of the Warsaw University of Technology. The range of scientific interests include chemistry and technology of crude oil and polymers, modifications of bituminous substances from crude oil and carbon, neutralization and recycling of industrial waste, as well as organization and management in the higher education institutes and industry issues. He completed his post-graduate study in Financial Management and Marketing at Warsaw University of Technology. Professor Zielinski is Head of the Plastic Faculty of Chemistry Institute at Warsaw University of Technology (Plock branch). In years 1999 – 2005 he was a Vice Rector of Warsaw University of Technology - Technical and Social Sciences School and Dean of Construction, Mechanical and Petrochemical Faculty. Mr. Janusz Zielinski fulfills a lot of functions at Warsaw University of Technology, among others, he is a member of the Senate and Senate Committees, School Scientific Board, Programme Board for School Development Programme.
Professor Zielinski is a member of various international and domestic Associations, Scientific Boards, Research Consortiums and Programme Boards. In 2003-2007 he was a Vice-President of the Polish Inventors and Rationalisers Association and from 1995 to 2003 he was a Chairman of the Scientific Board of OBRPR in Plock. He is also a member of the Monitoring Committee of the Regional Mazovia Operating Programme as representative of scientific and academic communities.
He was honoured with, among others, National Education Committee Medal (1999), Gold Cross of Merit (2002), Medal of Plock Person of Merit (2004) as well as Officer Cross of the King of Belgium for the inventive and innovative activity.
From April 2004 to August 2004 and from July 2007 to June 2010 Professor Zielinski was a Member of the PKN ORLEN Supervisory Board. From April 2006 he is also a member of the Mostostal Plock Supervisory Board.

All elected Members of the PKN ORLEN Supervisory Board, except for their duties in PKN ORLEN are not involved in any other activity that competes with PKN ORLEN; they are not a partner of any competing company; and they are not a member of any board of a competing incorporated company. The elected Members of the PKN ORLEN Supervisory Board are not on the List of Insolvent Debtors kept on record on the National Court Register Act.

Moreover, the following correction has been made:

There is:

“Mr. Artur Gabor, Mr. Krzysztof Kolach, Mr. Maciej Mataczynski, Mr. Leszek Pawlowicz, Mr. Piotr Wielowieyski and Mr. Janusz Zielinski submitted statements that they meet criteria for independent Members of the PKN ORLEN Supervisory Board.”

Should be:

“Mr. Artur Gabor, Mr. Krzysztof Kolach, Mr. Leszek Pawlowicz, Mr. Piotr Wielowieyski and Mr. Janusz Zielinski submitted statements that they meet criteria for independent Members of the PKN ORLEN Supervisory Board.”

The correct text of the Regulatory announcement no 114/2010 dated 25 June 2010 is as follows:

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") announces that the Ordinary General Meeting of Shareholders on 25 June 2010 appointed the following people as PKN ORLEN Supervisory Board Members for a new three-year term of office. Mr. Maciej Mataczynski was elected to the position of Chairman of the PKN ORLEN Supervisory Board. The following Supervisory Board Members were also elected: Ms. Angelina Sarota, Mr. Grzegorz Borowiec, Mr. Artur Gabor, Mr. Marek Karabula, Mr. Krzysztof Kolach, Mr. Leszek Jerzy Pawlowicz and Mr. Piotr Wielowieyski.

Mr. Janusz Zielinski was appointed by the State Treasury.

Mr. Artur Gabor, Mr. Krzysztof Kolach, Mr. Leszek Pawlowicz, Mr. Piotr Wielowieyski and Mr. Janusz Zielinski submitted statements that they meet criteria for independent Members of the PKN ORLEN Supervisory Board.

Mr. Artur Gabor
Education
University College London (Economics)
Warsaw University (Law)

Current Professional Activity
Gabor&Gabor, Investment & Advisory Services, Partner

Professional Experience
2005-2006 IBM Poland, Business Consulting Services (Director of Financial Sector)
1998-2004 General Electric Capital (Business Development Director, Central Europe, Russia)
1994-1998 Credit Lyonnais Investment Banking Group (Managing Director Poland)
1990-1994 Warsaw Consulting Group (Partner)
1987-1990 Paged S.A. (Business Development Director)
1986-1987 Polish Academy of Sciences (Research Fellow)

Membership in Professional Organisations
2003-2004 American Chamber of Commerce (Board Member)
2005- American Chamber of Commerce (Advisory Committee Member)
2006- Polish Institute of Directors (Member)

Supervisory Board Membership
2001-2004 GE Capital Bank S.A. (Board Vice President)
2001-2004 GE Housing Bank S.A. (Board Member)
2004-2005 Getin Holding S.A. (Board Member)
2004-2005 Getin Bank S.A. (Board President)
2004-2008 Energomontaż Połnoc S.A. (Board Vice President)
2006-2007 Polmos Lublin S.A. (Board Member)
2009-2010 Sfinks S.A. (Board Vice President)
2007- Orbis S.A. (Board Member)
2007- Energopol Katowice S.A. (Board Vice President)
2008- Grupa Lew S.A. (Board President)

Mr. Leszek Jerzy Pawlowicz
Education
Master of Economics (1973)
PhD in Economics (1977)
Assistant Professor in Economics (1988)

Professional Experience
1973 – 1977 Trainee, assistant and senior assistant
Faculty of Economics of Production at the University of Gdansk
1978 – 1988 Lecturer
Faculty of Economics of Production at the University of Gdansk
1988 - 1993 Reader
Faculty of Economics of Production at the University of Gdansk
Since 1990 Vice-President of the Management Board of the Gdansk Institute for Market Economics
Since 1992 Director of the Gdansk Banking Academy
Since 1993 Professor at the University of Gdansk
Since 10.2003 Manager of the Banking Department at the University of Gdansk

Other Professional Experience
1991 – 1993 Chairman of the Supervisory Board of Bank Gdanski
1993 – 1996 Member of the Supervisory Board of Bank Gdanski
1995 – 1996 Chairman of the Program Board of Bank Monthly
1996 – 1997 Member of the Experts Group for Privatization of Telekomunikacja Polska
1995 – 2001 Member of the Scientific Board of Bank BGZ
1997 – 2000 Chairman of the Economics Section of State Committee for Scientific Research
2003 – 2005 Member of the Board of PPUP Poczta Polska
Since 08.01.1998 Member of the Supervisory Board of Bank Pekao
Since 16.04.2004 Member of the Supervisory Board of PTE Allianz Polska
Since 30.06.2004 Member of the Supervisory Board of BEST
Since 10.2004 Member of the Program Board of “Finansowanie nieruchomosci” quarterly
Since 09.2006 Member of the Editorial Board of “Kwartalnik Nauk o Przedsiebiorstwie” quarterly
Since 12.02.2008 Member of the Stock Exchange Board (Supervisory Board of WSE)
since 22.02.2008 Chairman of the Stock Exchange Board of WSE (Supervisory Board of WSE)
Since 31.03.2008 Arbitrator of Conciliation Court at Polish FSA
Since 04.2010 Member of the Program and Scientific Board of “Bezpieczny Bank” magazine

Ms. Angelina Sarota graduated from the Faculty of Law and Administration Jagiellonian University, Domestic School of Public Administration and post diploma studies in Strategic Management of Human Resources at the Leon Kozminski Academy of Entrepreneurship and Management. She is a civil servant. From 2001 to 2003 she worked in Process Deputy Department and in Restructuring and Public Help Department at the Ministry of the State Treasury. At the Ministry of Science and Information in 2003 she was a ministerial advisor at the Minister’s Office, from 2003 to 2005 she held the position of Director’s Deputy at the Department of Strategy and Science Development, in 2005 she was acting as the Law Director. From November 2005 she is a director of the Law Department at the Chancellor of the Prime Minister. She has passed an exam for the member of supervisory boards of companies with the share of the State Treasury. She was a member of supervisory boards of the following companies: Cerg limited company in Gliwice, Chemar limited company in Kielce, Vice Chairman of the supervisory board of the Warsaw Technology Park S.A. From June 2008 to June 2010 Ms. Angelina Sarota was a Secretary of the PKN ORLEN Supervisory Board.

Mr. Maciej Mataczyński – law science doctor, legal adviser, specialist in commercial and European law. Graduated from the Faculty of Law of Adam Mickiewicz University, holding a scholarship of the Fulbright Commission at the Harvard Law School and T.M.C Assera Institute in Hague. Hired as a tutor at the European Law Professorship at the Faculty of Law of Adam Mickiewicz University in Poznan. From 2008 partner at the Sowislo and Topolewski law office in Poznan. Mr. Mataczynski is also an author of many law publications in Poland and abroad. From January to November 2006 Mr. Mataczynski was an independent Member of the PKN ORLEN Supervisory Board –as a Secretary and later as Chairman of the PKN ORLEN Supervisory Board. Again from February 2008 to June 2010, Mr. Mataczynski was a Chairman of the PKN ORLEN Supervisory Board. From June 2008 he is also a member of the TC Debica SA supervisory board – as a Secretary and a member of the audit committee.

Mr. Grzegorz Borowiec – graduated from Gdynia Maritime University, Faculty of Navigation – 1987, National School of Public Administration - 1997, Master of Business Administration – Warsaw University/University of Illinois - 2002, Warsaw University, Faculty of Management (2002), nominee officer in the civil service. From 1987 to 1994 he worked as a mate for Polish and foreign ship owners in the trading fleet. From April 1997 to June 1998 he was a deputy Director of the Ministry of the State Treasury Office dealing with a free of charge grant of shares to the entitled employees. From 1998 – 2001 he worked as a General Director in the Energy Regulation Authority. From August 2001 he was the Director of Finance Department in Ministry of Finance. Member of the Supervisory Board of WSK “Rzeszow” (1998) and PKP SKM Fast City Railway in Treblecity of Gdansk, Gdynia, Sopot (from 2002). He graduated from domestic and foreign scholarships. He also graduated from many training courses with certificates, among others: Internal Auditor Certificate (2005), NATO security Certificate (NATO secret – 2002), Power Sector Reform – USAID, USA (1999) and training in projects management PRINCE2 (2006). From 12 December 2007 he was the General Director of the Ministry of the State Treasury. From October 2009 Mr. Grzegorz Borowiec is a member of the TVP supervisory board – representing the Minister of the State Treasury. From January 2010 he is a member of the audit committee at The Ministry of Regional Development. In May 2010 he was appointed for an examiner by the Board of Examiners for candidates for auditors. From February 2008 to June 2010 Mr. Grzegorz Borowiec was a member of the PKN ORLEN Supervisory Board.

Mr. Marek Karabula - has obtained a Masters degree in economic studies. He graduated in 1996 from Management Faculty of Akademia Ekonomiczna in Cracow. Since January 2010 he is the Vice-president of the Industrial Development Agency Management Board. From January 2008 to January 2010 he has been CEO of Nafta Polska S.A. In the period from December 2005 to January 2007 he was a member of the Management Board in Rafineria Trzebinia S.A.; from July 2006 to January 2007 he was a member of Management Board of ORLEN Oil Sp. z o.o.; from December 2004 to October 2005 he was Vice-president of the Management Board of Browary Polskie Brok-Strzelec S.A.; from October 2003 to September 2004 he was Vice-president of the Management Board of AUTOSAN S.A.; from December 2000 to January 2002 he was Vice-president of the Management Board of Browary Dolnośląskie Piast S.A.; from December 1994 to October 2000 he was Vice-president of the Management Board of Browary Okocim S.A. In 2005 he passed the exam for candidates for members of Supervisory Board in state-owned companies. From November 2008 he is a member of PGNiG S.A. Supervisory Board. From February 2008 to June 2010 Mr. Marek Karabula was a Vice-chairman of the PKN ORLEN Supervisory Board.

Mr. Krzysztof Kolach – has obtained a Masters technical degree. In 1986 he graduated from the Agriculture Faculty at the Agriculture and Technical Academy, Bydgoszcz. In 1996 he completed a post-graduate pedagogical study in Bydgoszcz. His professional experience is related to state and local administration authorities. From March to November 1998 he was a President of PPH Hetman in Bedlno. From March 1994 to February 1998 he was Governor of Plock voivodship;; from June 1990 to March 1994 and from 1998 until now, he has been Head of Bedlno Community. 1996 he completed the state exam required for members of Supervisory Boards of companies owned by State Treasury. From February 2008 to June 2010 Mr. Krzysztof Kolach was a member of the PKN ORLEN Supervisory Board.

Mr Piotr Jan Wielowieyski has obtained a Masters degree in economics at the Faculty of Economic Sciences of Warsaw University in 1978. From 2008 he is a member of Libella Management Board. In years 2004-2007 he was a management board member of Foksal NFI S.A. (public company). From 2003 to 2004 Mr Piotr Jan Wielowieyski was a President and Board member of Zachodni NFI S.A. (public company). From 1998 to 2002 he was a Board member and Investment Director of PBK Inwestycje S.A.. In the period 1996-1998 he was a Board member of Fidea Menagement Sp. z o.o. (Entity managing Foksal NFI S.A.). From 1991 to 1996 he worked at the World Bank (IFC) as a Corporate Finance Officer. He completed studies for Investment advisor and broker analysts led by Centrum Prywatyzacji BiF in 1998. He passed the exam for candidates of the supervisory boards in companies with the State Treasury as a shareholder in 1999. So far he has held positions on the supervisory boards of 11 companies, 3 of them were public companies. From February 2008 to June 2010 Mr Piotr Jan Wielowieyski was a member of the PKN ORLEN Supervisory Board.

Mr. Janusz Zielinski, is a full professor of the Warsaw University of Technology. The range of scientific interests include chemistry and technology of crude oil and polymers, modifications of bituminous substances from crude oil and carbon, neutralization and recycling of industrial waste, as well as organization and management in the higher education institutes and industry issues. He completed his post-graduate study in Financial Management and Marketing at Warsaw University of Technology. Professor Zielinski is Head of the Plastic Faculty of Chemistry Institute at Warsaw University of Technology (Plock branch). In years 1999 – 2005 he was a Vice Rector of Warsaw University of Technology - Technical and Social Sciences School and Dean of Construction, Mechanical and Petrochemical Faculty. Mr. Janusz Zielinski fulfills a lot of functions at Warsaw University of Technology, among others, he is a member of the Senate and Senate Committees, School Scientific Board, Programme Board for School Development Programme.
Professor Zielinski is a member of various international and domestic Associations, Scientific Boards, Research Consortiums and Programme Boards. In 2003-2007 he was a Vice-President of the Polish Inventors and Rationalisers Association and from 1995 to 2003 he was a Chairman of the Scientific Board of OBRPR in Plock. He is also a member of the Monitoring Committee of the Regional Mazovia Operating Programme as representative of scientific and academic communities.
He was honoured with, among others, National Education Committee Medal (1999), Gold Cross of Merit (2002), Medal of Plock Person of Merit (2004) as well as Officer Cross of the King of Belgium for the inventive and innovative activity.
From April 2004 to August 2004 and from July 2007 to June 2010 Professor Zielinski was a Member of the PKN ORLEN Supervisory Board. From April 2006 he is also a member of the Mostostal Plock Supervisory Board.

All elected Members of the PKN ORLEN Supervisory Board, except for their duties in PKN ORLEN are not involved in any other activity that competes with PKN ORLEN; they are not a partner of any competing company; and they are not a member of any board of a competing incorporated company. The elected Members of the PKN ORLEN Supervisory Board are not on the List of Insolvent Debtors kept on record on the National Court Register Act.

See also: regulatory announcement no 47/2008 dated 13 June 2008, regulatory announcement no 12/2008 dated 7 February 2008, regulatory announcement no 43/2007 dated 6 July 2007.