LOTOS Exploration & Production Norge AS (EPN) relinquishes its interest in exploration licence PL 556
Report no. 9/20112011-02-21

Further to Current Report No. 6/2010 of January 20th 2010, the Management Board of Grupa LOTOS S.A. hereby reports that on February 21st 2011 it was notified that LOTOS E&P Norge (controlled by LOTOS Petrobaltic S.A., in which the Company holds 99.32% of the share capital) had relinquished its 50% interest in licence PL 556 in the Norwegian Sea, awarded in the APA 2009 licensing round.

LOTOS EPN as the operator of licence PL 556 (the remaining 50% interest in the licence having been awarded to Skeie Energy AS) recommended refraining from making a commitment to undertake exploratory drilling as part of another phase of the field development.

LOTOS EPN's recommendation and decision to relinquish its rights to licence PL 556 are based on the evaluation of the geological potential of the licence area, performed in the first exploration phase ended February 19th 2011.

The legal basis for the publication of this Current Report is Art. 56.1.1 of the Public Offering Act – inside information.