PGNiG SA - PGNiG Notes Placed with the Group Subsidiaries

Warsaw, July 1st 2014

PGNiG Notes Placed with the Group Subsidiaries

Current Report No. 85 /2014

The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA

("PGNiG") reports on the acquisition of PGNiG debt securities by the

Group subsidiaries.

On July 1st 2014, PGNiG issued notes (the "Notes") under the Short-Term

Note Issue Programme dated May 6th 2014 (the "Programme"). The aggregate

par value of the Notes is PLN 40,000,000.00 (fourty million złoty),

including:

• 400 Notes with the total value of PLN 40,000,000.00 (fourty million

złoty), maturing on July 29th 2014 and yielding 2.76% per annum, which

have been acquired by Polska Spółka Gazownictwa Sp. z o.o. in which

PGNiG holds a 100% stake and has the right to 100% of the total vote at

the General Meeting;

The par value of one Note is PLN 100,000.00 (one hundred thousand złoty).

All the Notes are denominated in the Polish złoty and have been offered

in a private placement exclusively in the territory of Poland.

The Notes are unsecured discount bearer notes in book-entry form, and

will be redeemed at par value.

PGNiG has no plans to introduce the Notes to public trading.

The Programme is a tool designed to effectively manage short-term

liquidity within the PGNiG Group.

Following the Note issue discussed above, the total par value of notes

issued under the Programme and outstanding as at July 1st 2014 is PLN

585,800,000.00 (five hundred eighty five million eight hundred thousand

złoty).

More information on page: biznes.pap.pl

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