Resolution of the Supervisory Board – appointment of Vice-President of the Executive Board

The Executive Board of Polish Energy Partners S.A. (hereinafter referred to as “the Company”) hereby informs that on 10 June 2005 the Company’s Supervisory Board appointed Mr. Wojciech Cetnarski to act as the Company’s Vice-President of the Executive Board.

Mr. Wojciech Piotr Cetnarski studied at the University of Rome, Department of Aviation Engineering, and the Warsaw University of Technology, Faculty of Civil Engineering.

In 1990, Mr. Wojciech Piotr Cetnarski was a shareholder and founder of one of the first Polish-Italian joint ventures, a limited liability company TOROS Sp. z o.o.

In 1991-1994, Mr. Wojciech Piotr Cetnarski held a position of Vice-President of the Board of a joint-stock company Hanze Holding S.A., where he was responsible for Strategic Planning and R&D.

In 1995, Mr. Wojciech Piotr Cetnarski co-founded the limited liability company Quo Vadis Polska Sp. z o.o. and had held the position of the company’s Vice-President of the Board until 1997. As part of an American strategic consulting group Quo Vadis Intl., Quo Vadis Polska Sp. z o.o. provided strategic consulting services for companies such as Avon Cosmetics, Alumax Inc., CalEnergy Inc.

In 1997, Mr. Wojciech Cetnarski co-founded the Company, and in 1997-2003 he was the Company’s President of the Executive Board. In addition, in 2000-2002, Mr. Cetnarski was a Member of the Supervisory Board of Energomontaż Południe SA.

In 2004-2005, Mr. Wojciech Cetnarski has been running his own business under the name Wojciech Cetnarski Consulting, acting at the same time as Vice-President of the Executive Board of a limited liability partnership Saturn Management Sp. z o.o. i Wspólnicy Spółka Komandytowa.

Since 2001, Mr. Wojciech Piotr Cetnarski has been the Vice-President of the Board of Izba Energetyki Przemysłowej (Chamber of Industrial Power Engineering), which he co-founded back in 1998. Since 2002, he has been Member of the Executive Board in the association Polski Klub Kogeneracji (Kogen Polska), which he also co-founded.

Mr. Wojciech Cetnarski runs his own business under the name Wojciech Cetnarski Consulting, which is not competitive for the Company, and holds a position of Vice-President of the Executive Board of a limited liability partnership Saturn Management Sp. z o.o. i Wspólnicy Spółka Komandytowa – the Company’s subsidiary. Mr. Wojciech Cetnarski does not run or participate in any business which is competitive for the Company.

Mr. Wojciech Cetnarski is not listed in the Bankruptcy Register maintained under the National Court Register Act.

Legal basis:
§ 5 section 1 item 26 of Ordinance by the Council of Ministers on current and interim information provided by issuers of securities – appointment of members of the Issuer’s Supervisory of Executive Board

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