Amendment of the Prospectus

Considering that the Selling Price of Shares Sold has been set and the Supplementary Agreement to the Investment Underwriting Agreement of 22 April 2005 has been concluded, Polish Energy Partners S.A. hereby informs that the following sections of the Prospectus shall be amended:
Introduction:

Former text on Page 1:

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Current text on Page 1:

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Chapter III

Former text on Page 36 section 1:

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Current text on Page 36 section 1:

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Former text on Page 37 section 2:

Estimated costs of sale of Shares Sold and costs of issue of Series M Shares total PLN 3,583,368.00; however, costs of sale of Shares Sold in the amount of PLN 1,900,728.00 shall be covered by Introducing Brokers, not by the Issuer. The Issuer shall cover costs of PLN 1,682,640.00. This amount includes:

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(*) No Investment or Stand-by Underwriting Agreements had been signed as at the date of the Prospectus. Introducing Brokers have set terms and conditions as regards costs of the Investment Underwriting Agreement with BZ WBK. If Underwriting Agreements are signed, the Issuer shall publish this information in the form of an announcement.

Current text on Page 37 section 2:
Estimated costs of sale of Shares Sold and costs of issue of Series M Shares total PLN 2,646,089.00; however, costs of sale of Shares Sold in the amount of PLN 963,449.00 shall be covered by Introducing Brokers, not by the Issuer. The Issuer shall cover costs of PLN 1,682,640.00. This amount includes:

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Legal basis:
Art. § 81 section 1 item 1 of the Ordinance by the Council of Ministers on current and interim information provided by issuers of securities – information requiring amendment of the Prospectus

Signatures:
Anna Kwarcińska – Member of the Executive Board
Grzegorz Skarżyński – Vice President of the Executive Board