The Executive Board of Grupa LOTOS SA hereby reports that the financial forecasts for 2005, disclosed by the Company in the Issue Prospectus and Current Reports No. 16/2005 and 20/2005, have been adjusted. The financial forecasts of the LOTOS Group for 2005, presented below, have been prepared on the basis of the initial financial results for the first three quarters of 2005 and the updated assumptions for the Q4 2005 forecast. 1. Forecast values of selected items of the non-consolidated profit and loss account of Grupa LOTOS SA (in PLN’000), in accordance with the International Financial Reporting Standards (IFRS): Sales revenue and equivalents: 8,806,140 Depreciation/amortisation: 171,323 Operating profit: 571,180 Net profit: 542,492 2. Forecast values of selected items of the non-consolidated profit and loss account of Grupa LOTOS SA (in PLN’000), in accordance with the Polish Accounting Standards (PAS): Sales revenue and equivalents: 12,549,855 Depreciation/amortisation: 124,963 Operating profit: 623,112 Net profit: 572,905 3. Forecast values of selected items of the consolidated profit and loss account of the LOTOS Group (in PLN’000), in accordance with IRFS: Sales revenue and equivalents: 10,078,131 Depreciation/amortisation: 239,135 Operating profit: 854,445 Net profit: 643,505 4. Forecast values of selected items of the consolidated profit and loss account of the LOTOS Group (in PLN’000), in accordance with PAS: Sales revenue and equivalents: 14,273,250 Depreciation/amortisation: 201,589 Operating profit: 897,283 Net profit: 684,790 The financial results of the LOTOS Group are better than those assumed in the previous forecast due to the faster than expected utilisation of full production capacity following the overhaul shutdown and much better refining margins in Q3 2005. The assumptions underlying the previous forecast were updated, in particular with respect to the following: • the average annualised PLN/USD exchange rate in 2005 was adopted at PLN 3.23, • the average annualised price of Brent oil in 2005 was adopted at USD 54.03/bbl, • the proceeds from the issue of Series B Shares of Grupa LOTOS SA were accounted for in their actual amount of PLN 1,015m. The current forecast does not include the impact of the valuation of goodwill, performed separately for each of the companies acquired on February 3rd 2005 and subject to consolidation in the year ending December 31st 2005 (Czechowice Refinery – 80.04%, Jasło Refinery – 80.01%, Petrobaltic – 69.00%), made on consolidated financial result of the LOTOS Group. Grupa LOTOS SA is presently performing an independent valuation of assets, liabilities and contingent liabilities of the acquired companies. Results of such valuation may bring about changes in the items of the forecast consolidated profit and loss account. It is anticipated that the impact of the valuation may increase the net profit by some PLN 200m, attributable to the excess of the fair value of net assets of the acquired companies over their acquisition price (negative goodwill). The feasibility of meeting the financial forecasts is continuously monitored by the Company based on a review of revenue and incurred costs, and any material deviations from the published forecasts will be disclosed in current reports. Legal basis for the publication of this report: Par. 5.1.25 of the Minister of Finance’s Regulation on current and interim information to be published by issuers of securities, dated October 19th 2005.