The Management Board of Grupa LOTOS S.A. hereby reports that the total value of the agreements concluded between Grupa LOTOS S.A. and StatoilHydro ASA within the last 12 months stands at USD 276.7m (or PLN 766.5m at the mid exchange rate quoted for USD by the National Bank of Poland as at November 3rd 2008) and has thus reached the significant value threshold, that is it has exceeded 10% of Grupa LOTOS S.A.’s equity.
In value terms, the largest of the agreements is the agreement of July 16th 2008 governing Grupa LOTOS S.A.’s purchase of crude oil from StatoilHydro ASA. The value of this agreement was USD 79.4m (or PLN 161.2m at the mid exchange rate quoted for USD by the National Bank of Poland as ot July 16th 2008). The agreement provided for no conditions or deadlines precedent, nor did it provide for any contractual penalties. The agreement was concluded on the terms and conditions typical for this type of agreements.
Legal basis for the publication of this report: Par. 5.1.3 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities, dated October 19th 2005.