The Management Board of Grupa LOTOS S.A. reports that on October 8th 2007 Grupa LOTOS S.A. and PKN Orlen S.A. executed two agreements on sale and purchase of liquid fuels between Grupa LOTOS S.A. and PKN Orlen S.A. Following the execution of the two agreements the estimated aggregate value of all agreements concluded between Grupa LOTOS S.A. and PKN Orlen S.A. over the last 12 months is PLN 732m. From among those agreements the agreement with the largest value is that of October 8th 2007, providing for the sale of liquid fuels by Grupa LOTOS S.A. to PKN Orlen S.A. The agreement was concluded for a definite term, until January 20th 2008. Its value is estimated at PLN 173m. The agreement provide for contractual penalties of up to approx. PLN 1m and do not contain provisions permitting either party to seek additional compensation in excess of the penalties. The agreement are considered significant as the total value of the agreements concluded between Grupa LOTOS S.A. and PKN Orlen S.A. over the last 12 months 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.
Execution of Agreements between Grupa LOTOS S.A. and PKN Orlen S.A. – significant agreement
Report no. 96/20052007-10-08