The Management Board of Grupa LOTOS S.A. reports that on April 18th 2008 Grupa LOTOS S.A. and LOTOS Biopaliwa Sp. z o.o. (a wholly-owned subsidiary of LOTOS Czechowice S.A. in which Grupa LOTOS S.A. holds 80.04% of shares) concluded an agreement on supply of methyl esters to Grupa LOTOS S.A. The agreement, whose five-year value is estimated at PLN 1,700,000 thousand, has been concluded for an indefinite term. The agreement provides for contractual penalties in the event of default. The maximum amount of such penalties is 10% of the VAT-inclusive value of goods. Payment of contractual penalties does not exclude the parties’ right to seek compensation in excess of the penalties. The other terms of the agreement do not differ from provisions commonly applied in agreements of such type. The agreement is deemed significant as its estimated value exceeds 10% of the equity of Grupa LOTOS S.A. Legal basis for the publication of this report: Par. 5.1.3 of the Regulation of the Minister of Finance on current and periodic information to be published by issuers of securities, dated October 19th 2005.
Conclusion of a Significant Agreement between Grupa LOTOS S.A. and LOTOS Biopaliwa Sp. z o.o.
Report no. 96/20052008-04-18