The Management Board of Grupa LOTOS S.A. reports that on December 28th 2006 Grupa LOTOS S.A. and LOTOS Asfalt Sp. z o.o. (a wholly-owned subsidiary of Grupa LOTOS S.A.) signed a significant agreement concerning sale of heating oil to LOTOS Asfalt Sp. z o.o. The agreement was concluded for an unspecified period and provides for standard contractual penalties whose value depends on the quantity of non-supplied product or uncollected orders. The estimated 5-year value of the agreement is PLN 450,000 thousand. The agreement is considered significant as its estimated value exceeds 10% of the equity of Grupa LOTOS S.A. Concurrently, in connection with the consistent implementation of the policy of streamlining and restructuring the LOTOS Group’s sales division, from January 1st 2007 Grupa LOTOS S.A. will discontinue the sale of heating oil to LOTOS Mazowsze S.A. (a wholly-owned subsidiary 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 Significant Agreement between Grupa LOTOS S.A. and LOTOS Asfalt Sp. z o.o.
Report no. 96/20052006-12-28