PGNiG SA - PGNiG Notes Placed with the Group Subsidiaries

Warsaw, July 21st 2014

PGNiG Notes Placed with the Group Subsidiaries

Current Report No. 92/2014

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 21st 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 70,000,000.00 (seventy million złoty),

including:

• 700 Notes with the total value of PLN 70,000,000.00 (seventy million

złoty), maturing on September 22nd 2014 and yielding 2.79% 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 21st 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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