Information regarding compilance with Corporate Governance Rules

In connection with the enactment of the corporate governance rules: "Best Practices of WSE Listed Companies" and the related obligation to publish reports on any non‐compliance or breach thereof, the Management Board of PETROLINVEST S.A. (the "Company") announces that while it shares the ideas and assumptions behind the individual corporate governance rules – in the face of the Company’s established practice and/or statute regulations, which require it to part from the management and supervision model envisaged in some of the rules – it cannot fully and permanently comply with selected corporate governance rules referred to in the attachment to this report. The Company Management Board would like to reiterate that departing from the model and/or voicing certain reservations with respect to some of the rules does not adversely impact the clarity of supervision and management principles of PETROLINVEST S.A. nor does it adversely affect the implementation of best practices, and so it does not lead to any infringement of the assumptions underlying corporate governance. The Management Board of PETROLINVEST S.A. will continue to assess the management and supervision principles implemented in the Company on an ongoing basis and will also analyse investors’ expectations regarding the Company’s perspective on the best practices not complied with, and if any alteration is required and possible, a decision will be made to adopt such best practices as proposed by the Warsaw Stock Exchange (Giełda Papierów Wartościowych w Warszawie S.A.). If compliance with any such rules requires a decision of another Company body, the Management Board will apply to it to make an appropriate decision. Download Current Report no. 1/2008