logo

Revision of the Forecast of the LOTOS Group’s Consolidated Financial Results for 2007
Report no. 96/20052007-11-12

The Management Board of Grupa LOTOS S.A. hereby presents a revised forecast of selected LOTOS Group’s operating figures and items of the consolidated income statement for 2007. The previous forecast was published in Current Report No. 41/2007 of September 26th 2007. The forecast of September 26th 2007 contained the following assumptions concerning selected LOTOS Group’s operating figures for 2007 and items of the consolidated income statement for 2007 prepared in accordance with the IFRS (PLNm): Forecast crude oil production: 202.2 thousand tonnes Forecast crude oil processing: 6,079.21 thousand tonnes Sales revenue: 12,830 Operating profit: 659 Pre-tax profit: 834 Net profit attributable to equity holders of the parent: 634 The new forecast of consolidated financial performance of the LOTOS Group for 2007 is as follows: Selected forecast operating figures of the LOTOS Group for 2007: Forecast crude oil production: 192.3 thousand tonnes Forecast crude oil processing: 6,194 thousand tonnes Selected forecast items of the consolidated income statement of the LOTOS Group prepared in accordance with the IFRS (PLNm): Sales revenue: 12,935 Operating profit/(loss): 795 Pre-tax profit/(loss): 927 Net profit/(loss) attributable to equity holders of the parent: 713 Basis and material assumptions adopted for the preparation of the 2007 forecast: Average annualised USD/PLN exchange rate: 2.78 (previous figure: 2.82) Average annualised price of BRENT DTD crude oil (USD/bbl): 72.13 (previous figure: 68.66) Average annualised URAL Rotterdam/ BRENT DTD differential (USD/bbl): 3.24 (previous figure: 3.04) Average annualised price of Premium Unleaded CIF NWE High 95 gasoline (USD/t): 708.03 (previous figure: 686,18) Average annualised price of 10 ppm NWE CIF High diesel oil (USD/t): 671.5 (previous figure: 639.76) Assumed share of the LOTOS Group in the domestic fuel market: 25.9% The feasibility of reaching the results projected in the forecast will be assessed by a designated organisational unit, which will review the forecast if necessary. Based on the data received, the Management Board will assess the feasibility of reaching the forecast values, indicating the criteria for such assessment, and, if necessary, will revise the forecast. Information on the feasibility of performing the forecast will be published in quarterly reports of Grupa LOTOS S.A. for individual quarters of 2007. Any material discrepancies between the forecast and the actual results will be published in current reports. Legal basis for the publication of this report: Par. 5.1.25 and Par. 31.2 of the of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities, dated October 19th 2005.