Execution of agreement on supplies of crude oil between Grupa LOTOS S.A. and Eminent Energy Ltd.
Report no. 39/20112011-04-07

The Management Board of Grupa LOTOS S.A. hereby reports that on April 6th 2011 Grupa LOTOS S.A. signed an agreement with Eminent Energy Ltd. of Nicosia on the supply of REBCO crude oil to Grupa LOTOS S.A. in April 2011. The agreement provides for supplies of the crude through the Druzhba Pipeline.

The total net value of agreements concluded between the two parties for the last 12 months until today amounts to ca. USD 240.56m (i.e. PLN 670.27m) and has reached the value of a significant agreement, i.e. more than 10% of Grupa LOTOS S.A.’s equity.

In terms of value, the largest of these agreements is the agreement of April 6th 2011 on the supply of REBCO crude oil to Grupa LOTOS S.A. in April 2011, which estimated value is USD 84.82m (i.e. PLN 237.38m translated at the USD mid-exchange rate quoted by the National Bank of Poland for April 6th 2011).
The agreement does not include any condition precedent or specify any date of events giving rise to a claim (dies a quo), it does not provide for any contractual penalties and its terms and conditions do not differ from the terms and conditions commonly used in agreements of such type.

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.