The Management Board of Grupa LOTOS S.A. hereby reports that on December 30th 2008 Grupa LOTOS S.A. and BP Polska S.A. of Kraków entered into an agreement concerning sale of liquid fuels by Grupa LOTOS S.A. to BP Polska S.A.
The agreement was executed for a specified period from January 1st to December 31st 2009, and its estimated value is PLN 1.195bn.
The agreement provides for contractual penalties whose maximum value is PLN 23.9m. The agreement does not contain any provisions under which either party would be entitled to seek compensation in excess of the contractual penalties.
Other terms and conditions of the agreement do not differ from the terms and conditions commonly applied in agreements of such type.
The agreement is considered significant as its estimated value exceeds 10% of Grupa LOTOS S.A.’s equity.
The legal basis for the publication of this Current Report is Par. 5.1.3 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities, dated September 19th 2005.