Execution of annex to significant agreement

Polish Energy Partners S.A. (”PEP”) hereby informs that on 17 July 2009, Saturn Management Spółka z ograniczoną odpowiedzialnością i Wspólnicy Spółka Komandytowa (“SM”), the Company’s subsidiary, and Mondi Świecie SA (“MS”) executed annexes: (i) to agreement for the provision of operating services of 29 April 2002 and (ii) lease agreement of 29 April 2002, as well as (iii) the agreement regarding a temporary modification of the manner of payments by MS under the aforementioned agreements, regarding, in particular, the implementation of the project for the maximum increase in the generation of renewable energy and the attainment of other financial effects related to the consumption of biofuel by way of converting K1 boiler of OP140 type into a BFB boiler using biofuel (the “Titan Project”) and the manners of financing current operations of SM.

Pursuant to the aforementioned documents, PEP will provide SM with (i) the funds necessary to cover the company’s own funds required by lending banks for the financing of the Titan  Project and the projects involving the modernization of EC Saturn in the total amount not exceeding PLN 19 million and (ii) the funds in the total amount not exceeding PLN 20 million allocated to finance the modernization of EC Saturn in the period preceding the launch of the external financing planned for August 2009. The funds referred to in the foregoing sentence in Item (ii) are to be refinanced with external financing acquired by SM.