the Management Board of PETROLINVEST S.A. (the “Company”) announces that on 9 September 2010, pursuant to § 14. 2 of the Company Statute, in exercise of its personal rights and having obtained a positive opinion of the Supervisory Board of the Company, Prokom Investments S.A.:
(i) set the number of members of the Management Board at five, including the President, Vice President and three members of the Management Board,
(ii) dismissed President of the Management Board, Mr Roman Niewiadomski,
(iii) appointed Mr Bertrand Le Guern to the Management Board of the Company and entrusted him with the responsibilities of the President of the Management Board,
(iv) appointed Mr Roman Niewiadomski to the Management Board of the Company as a Member of the Management Board responsible for the Company’s trading activities in the segment of marketing petroleum products and fuels.

Pursuant to the resolution of the Company Supervisory Board dated 9 September 2010, providing opinion on the changes mentioned above, Mr Bertrand Le Guern shall hold the post of the President of the Management Board of the Company for a year following the date of his appointment.

Due to the appointment to the Management Board of the Company, Mr Bertrand Le Guern resigned from his office as a Member of the Supervisory Board of the Company on 9 September 2010.

At the same time, pursuant to § 14. 3 of the Company Statute, on 9 September 2010, the Supervisory Board of the Company appointed the following persons to the Management Board of the Company:
(i) Mr Franciszek Krok, appointing him a Member of the Management Board responsible for the Company’s operating activities in the prospecting and extraction segment in Kazakhstan,
(ii) Mr Maciej Wantke, appointing him a Member of the Management Board responsible for the development of new business projects.

The Supervisory Board believes that the abovementioned changes will serve to increase the efficiency of the management of the Company and the Capital Group and define precisely the fields of competence and responsibility of particular members of the Management Board.

Also on 9 September 2010, pursuant to § 17. 2 (2) of the Company Statute, exercising his personal rights, Mr Ryszard Krauze appointed Mr Marcin Dukaczewski to the Supervisory Board of the Company.

Mr Bertrand Le Guern (43) — President of the Management Board
Mr Bertrand Le Guern graduated from ESTACA Ecole D’Ingenieurs in Paris in 1991 with the title of engineer of aviation, majoring in aeronautics. In the years 1991–1994 he worked as Quality Engineer in AEROSPATIALE in Tarbes, near Toulouse and as a project leader in WSK PZL Mielec. In the years 1994–1998 he held the function of the Technical Vice President of the Management Board of PTK Centertel and in the years 2000–2004 he was the Vice President of the Management Board of Telekomunikacja Polska S.A., responsible for the reorganisation of the company. Simultaneously, in the years 2001–2004 he held the function of the Chairman of the Supervisory Board of TP Internet, a company of the TP Group, and in the years 2002–2004 he was the Vice Chairman of the Polish Confederation of Private Employers. In the period from May to December 2004 he held the function of the Restructuring Director at France Telecom in Paris. In 2005, he took the post of the Chief Executive Officer in Alma S.A. From March 2007, he held the function of a Member of the Management Board and the Chief Operations Director in Netia S.A. In the period from December 2008 to June 2010, he was the President of the Management Board of Canal+ Cyfrowy. Since 1 July 2010 he has been a partner of the Values company, and since April 2010 the President of French Chamber of Commerce and Industry. From 30 June 2010 to 9 September 2010 he was a member of the Supervisory Board of PETROLINVEST S.A.
Activities conducted by Mr Bertrand Le Guern outside the Company are not in competition with the Company. Mr Bertrand Le Guern does not participate in any company that competes with PETROLINVEST S.A., either as a partner in a partnership or as member of a body of a capital company, and does not participate in any competitive legal entity as member of its board. Mr Bertrand Le Guern has not been entered into the Register of Insolvent Debtors that is maintained pursuant to the Act on the National Court Register.

Mr Franciszek Krok (58) — Member of the Management Board
Mr Franciszek Krok graduated from the Moscow Power Engineering Institute where he completed his master’s degree and received his PhD in Technical Sciences. Additionally, he has passed the state examination for candidates for supervisory board members at State Treasury companies. He is also a certified banking professional.
Franciszek Krok has extensive knowledge and experience regarding the economic situation of former Soviet republics. From 1989 to 1995, he held the following posts: advisor at the Polish mission to COMECON (Council for Mutual Economic Assistance), deputy permanent representative of Poland in COMECON, commercial affairs advisor at the Trade Advisor’s Office at the Embassy of the Republic of Poland in Moscow, and, subsequently, head of the Trade Advisor’s Office. From 1995 to 2003, he worked at BRE Bank S.A. as a manager, and then Deputy Director of the Financial Institutions Department. From August 2003 to March 2006, he was Vice President of the Management Board of PGNIG S.A., responsible for trade and marketing. In addition, in 2002–2003, he was a member of the Supervisory Boards of Zespół Elektrociepłowni w Łodzi S.A. and Pekaes Truck S.A. From 2003 to 2006, he was the Chairman of the Supervisory Board of INTERGAZ Sp. z o.o. He also sat on the Supervisory Board of INVESTGAS Sp. z o.o.  In 2005-2006, Mr Krok held the office of a member and, subsequently, Vice Chairman of the Supervisory Board of EuRoPol GAZ S.A. (system of transit gas pipelines linking Jamal and Western Europe). Since December 2006, he has worked at the Company as Management Board Representative and Director for Owner Supervision and Financial Vice President of the Management Board at Occidental Resources, Inc., and since May 2010, as Management Board President at Occidental Resources and member of the Board of Directors at SIGNA ENTERPRISES Ltd. Since 2007, he has been a Management Board member and Financial Director of EMBA JUG NEFT LLP and Company PROFIT LLP. On 9 June 2010, he was appointed a commercial proxy of PETROLINVEST S.A.
Activities conducted by Mr Franciszek Krok outside the Company are not in competition with the Company. Mr Franciszek Krok does not participate in any company that competes with PETROLINVEST S.A., either as a partner in a partnership or as member of a body of a capital company, and does not participate in any competitive legal entity as member of its board. Mr Franciszek Krok has not been entered into the Register of Insolvent Debtors that is maintained pursuant to the Act on the National Court Register.

Mr Roman Niewiadomski (51) — Member of the Management Board
Mr Roman Niewiadomski is a graduate of Reading University in England. He also studied at the Central School of Planning and Statistics. He began his career as a chartered accountant at Coopers & Lybrand in England (currently PricewaterhouseCoopers), where in 1992 he received a licence to carry out audits and express opinions on financial statements of public companies in accordance with the International Standards, Associate Chartered Accountant (ACA). In the years 1992–1994, he worked at the Warsaw office of Price Waterhouse and qualified as a Polish chartered auditor. He ran a number of training programmes for chartered auditors on examining financial statements in accordance with the International Auditing Standards. He is a member of the Institute of Chartered Accountants In England and Wales. Mr Roman Niewiadomski also worked at United Technologies Inc. in internal audit and at BOC Plc (British Oxygen Corporation) in controlling and management reporting. In the years 1997–2009 he was closely involved in gas and oil prospecting and mining in Ukraine, Georgia and Russia, serving as a finance director of subsidiaries of capital groups listed at the London Stock Exchange: JKX Oil& Gas Plc, Aminex PLc, CanArgo Ltd., Urals Energy Public Company Ltd. He was the finance director of the West Siberian Resources Ltd group listed in Stockholm and, until July 2009, at Baltic Oil Terminals Plc — a company listed on London’s AIM, the owner of oil products transhipment terminals in the Kaliningrad District and trading in, among others, mazout and diesel oil. In the years 2006–2007, he was vice-president for budgeting, planning and IFRS reporting at the SUAL Group in Moscow (currently a subsidiary of Russian Aluminium — the largest aluminium producer in the world). Since November 2009, he has served as the President of the Management Board of Petrolinvest Gaz S.A. From 8 July 2010 to 9 September 2010 he was the President of the Management Board of PETROLINVEST S.A.
Activities conducted by Mr Roman Niewiadomski outside the Company are not in competition with the Company. Mr Roman Niewiadomski does not participate in any company that competes with PETROLINVEST S.A., either as a partner in a partnership or as member of a body of a capital company, and does not participate in any competitive legal entity as member of its board. Mr Roman Niewiadomski has not been entered into the Register of Insolvent Debtors that is maintained pursuant to the Act on the National Court Register.

Mr Maciej Wantke (46) — Member of the Management Board
Mr Maciej Wantke graduated from the Faculty of Marine Power Plant Operation at Gdynia Maritime University. In 1993, he completed postgraduate management studies organised by GFKM, Strathclyde University Glasgow and Price Waterhouse. In 1991–1992 he worked at Polpetrol s.c. (currently PETROLINVEST S.A.), in the Fuel Sale Department and, subsequently, in the Import Department. He has been with the Prokom Group since 1994. At Prokom Software he started as a product manager to finally become a member of the Company Management Board responsible, inter alia, for new strategic business projects (2002–2007). In the past, he has also served as a member of the Management Board of Tetra System Polska S.A. and a member of supervisory boards of Postdata S.A., Koma S.A. , Ready S.A. and Bank Pocztowy S.A. Since 2009, Mr Maciej Wantke has been with the Prokom Investments capital group where he is responsible for business projects in the energy sector while performing, inter alia, the function of a member of the Management Board of Nowotna Farma Wiatrowa Sp. z o.o.
Activities conducted by Mr Maciej Wantke outside the Company are not in competition with the Company. Mr Maciej Wantke does not participate in any company that competes with PETROLINVEST S.A., either as a partner in a partnership or as member of a body of a capital company, and does not participate in any competitive legal entity as member of its board. Mr Maciej Wantke has not been entered into the Register of Insolvent Debtors that is maintained pursuant to the Act on the National Court Register.

Mr Marcin Dukaczewki (32) — Member of the Supervisory Board
Mr Marcin Dukaczewki studied International Relations at the Faculty of Journalism and Political Studies at the University of Warsaw. He has been with the Prokom Investments S.A. capital group since 2001. He took part in the major IT and capital projects realised under Prokom Software S.A. as well in investment and commercial projects implemented by Bioton S.A., Petrolinvest S.A., Polnord S.A, and other entities belonging to the Prokom Investments S.A. group. He is a member of the Boards of Directors of companies of the Bioton S.A. group: Singapore-based company of SciGen Ltd. and Chinese Hefei-SciGen-Bioton Biopharmaceutical Company Ltd. Mr Marcin Dukaczewki is also a member of the Management Board of the Ryszard Krauze foundation.
Activities conducted by Mr Marcin Dukaczewski outside the Company are not in competition with the Company. Mr Marcin Dukaczewski does not participate in any company that competes with PETROLINVEST S.A., either as a partner in a partnership or as member of a body of a capital company, and does not participate in any competitive legal entity as member of its board. Mr Marcin Dukaczewski has not been entered into the Register of Insolvent Debtors that is maintained pursuant to the Act on the National Court Register.

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