LOTOS Exploration and Production Norge AS entered today into an agreement to buy a 20% interest in exploration license PL455, placed in the southern part of North Sea’s Norwegian sector.

LOTOS Norge signed an agreement with Noreco to farm-into exploration license PL455. LOTOS will earn 20% interest in the license by carrying parts of Noreco’s costs related to the recently completed seismic survey over the license. Completion of the transaction is pending on customary approvals.

- We have recently informed the market about signing an agreement concerning purchase a 10% interest in the Yme oil field, coming in production next year – comments Pawel Olechnowicz, CEO of Grupa LOTOS SA - It is part of our strategy to grow our portfolio of licenses in the Norwegian Continental Shelf and the agreement we entered today is a further, very important step in the field of ours strategy implementation.

License PL455 is placed nearby Yme field which has constructive impact on settle in possibilities in case when the surveyed reservoir will be confirmed. The license was awarded in the APA2007 round. Noreco is the operator of the license, and will have a 50% interest after the transaction.

Marcin Zachowicz, Spokesman, Grupa LOTOS S.A., ul. Elbląska 135,80-718 Gdansk, Poland, tel.+48 58 308 75 70, +48 505 050 454, e-mail: marcin.zachowicz@grupalotos.pl