The Management Board of Grupa LOTOS S.A. hereby reports that the total value of agreements executed between Grupa LOTOS S.A. and J&S Service and Investment Ltd in the last twelve months amounted to USD 180.4m (or PLN 563.6m translated at the mid-exchange rate quoted for USD by the National Bank of Poland on July 3rd 2009), and reached the value of a material agreement as it exceeded 10% of Grupa LOTOS S.A.’s equity.
The largest transaction (in terms of value) concluded between the two companies in the last twelve months was the agreement whereunder Grupa LOTOS S.A. purchased crude oil for USD 48.8m (or PLN 152.5m translated at the mid-exchange rate quoted for USD by the National Bank of Poland on July 3rd 2009) from J&S Service and Investment Ltd. The agreement did not contain any conditions precedent or specify any date of events giving rise to the claim (dies a quo), it did not provide for any contractual penalties, and was executed on typical market terms for this type of transactions.
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 and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009.