The Minister of Treasury, ul. Krucza 36/Wspólna 6, 00-522 Warszawa, acting on behalf of the Treasury, pursuant to Article 33(1)(3) of the Commercialisation and Privatisation Act of 30 August 1996 (Journal of Laws of 2002 No. 171, item 1397, as amended), hereinafter referred to as the “Act”, invites all interested parties to participate in negotiations for the purchase of a block of 941,800 (nine hundred forty-one thousand eight hundred) ordinary bearer shares, of a nominal value of PLN 10.00 (ten zloty) each, constituting 85% of the share capital of the company Ośrodek Badawczo-Rozwojowy Przemysłu Rafineryjnego Spółka Akcyjna with registered office in Płock, ul. Chemików 5, 09-411 Płock, hereinafter referred to as the “Company”.

As at the date of this announcement, the Treasury owns 100% of the Company’s shares.

Pursuant to Article 36 of the Act, eligible employees are entitled to acquire free of charge up to 15% of the Company’s shares taken up by the Treasury on the day of registration of the Company. In the case of expiry of the right of eligible employees to a free-of-charge acquisition of such shares, the Minister of Treasury allows the possibility of sale of such shares not purchased by eligible employees to an Investor selected through the present public invitation for negotiation.

The core business activity of the Company is the manufacture of: aircraft fuels, fuel and biofuel additives, plastic products and other chemical products, as well as research and development works for: the refinery and petrochemical industries, as well as the environmental protection sector.

All interested parties who will come to PKF Grupa Konsultingowa Sp. z o.o. based in Warsaw on working days in the hours from 10.00 AM to 4.30 PM starting from 12.11.2009 till the day directly preceding the day of submitting by Potential Investors written replies to the public invitation to negotiations for the block of the Company’s shares and present an Extract from the Register of Entrepreneurs of the National Court Register / Certificate of Entry in the Register of Business Activity, showing the current representation of the entity (certificate must be not older than three months), and if the interested party is a natural person who is not an entrepreneur – present an identity document and upon signing the document “Confidentiality Obligation” by duly authorized representatives of Potential Investors, they shall receive for a fee a “Company Memorandum” of the Company Ośrodek Badawczo-Rozwojowy Przemysłu Rafineryjnego S.A. in Płock” (hereinafter the “Memorandum”), containing information on the Company’s legal, economic and financial standing, as well as on the structure of replies to the announced invitation to negotiations.

Interested parties should submit their replies to the invitation to negotiations for the purchase of the Company’s shares to: PKF Grupa Konsultingowa Sp. z o.o., ul. Elbląska 15/17, 01-747 Warszawa (Tel: +48 22 495 76 00; Fax: +48 22 495 76 06). The persons responsible for receiving applications are: Ms. Katarzyna Kaźmierczak, Mr. Piotr Urbański and Mr. Leszek Cienkowski.
 

The subject of negotiations shall be: price for the block of shares, Company development program, including, among others, the commitment to raise the share capital and other investment commitments, commitments with respect to environmental protection, commitments with respect to protection of the interests of Company employees, as well as the means of securing the execution of such commitments.
 

Potential Investors who collected the Memorandum must submit written replies to the public invitation to negotiations for the purchase of Company’s shares by 17.12.2009 (till 2:00 PM Warsaw time). Replies should be made in writing in the Polish language and should be submitted in two copies, in sealed envelopes, to the Ministry of Treasury, 00-522 Warszawa, ul. Krucza 36/Wspólna 6, Secretary’s Office of the Department of Corporate Supervision and Privatization I, room 477 . The envelopes must have the identification data of the Potential Investor as well as the note:

“Odpowiedź na publiczne zaproszenie do negocjacji w sprawie nabycia pakietu akcji spółki Ośrodek Badawczo-Rozwojowy Przemysłu Rafineryjnego S.A. w Płocku – Nie otwierać” (Reply to the Public Invitation to Negotiations for the Purchase of Shares of Ośrodek Badawczo-Rozwojowy Przemysłu Rafineryjnego S.A. in Płock – Do not open) and with the identification data of the Potential Investor.

The Minister of Treasury reserves the right to require additional information from Potential Investors who submitted replies to the public invitation for negotiations. The Minister of Treasury will advise in writing by 29.01.2010 each of the entities who submitted a reply of the result of its examination.
 

Considered will only be replies made by Potential Investors who signed the “Confidentiality Obligation” and collected the “Company Memorandum”.
 

The Minister of Treasury reserves the right to: select one or several entities with whom negotiations shall be conducted; terminate the negotiations without giving reasons; extend the date for submitting replies to the public invitation to negotiations; extend the date for advising Potential Investors of the result of examination of such replies; change negotiation schedule and procedure.

The Minister of Treasury is not responsible for disbursement of any costs incurred by entities interested in the purchase of shares in connection with their participation in the negotiations and conclusion of a share purchase agreement for the Company’s shares.