The Annual General Shareholders Meeting of PGNiG SA also approved the Company's financial statements and the Directors' Report on the Operations of PGNiG SA in 2010, as well as the consolidated financial statements of the PGNiG Group and the Directors' Report on the Operations of the PGNiG Group in 2010.

The Company's shareholders decided to allocate PLN 921.6m of the profit for 2010 for contribution to statutory reserve funds, given the need finance the projects launched under the approved investment plan for 2011. In 2011, the PGNiG Group plans to increase its capital expenditure to approx. PLN 5.6bn, compared with approx. PLN 4.5bn incurred in 2010.

The dividend for 2010 will be paid to shareholders from the net profit of PGNiG SA, which in 2010 amounted to PLN 1,702.1m. The amount allocated for dividend payment is PLN 708m (PLN 0.12 per share). Moreover, the Annual General Shareholders Meeting resolved that a portion of the dividend due to the State Treasury, of no more than PLN 30.1m (VAT inclusive), will be paid in non-cash form. Any difference between the total amount of dividend due to the State Treasury and the amount of non-cash dividend will be paid in cash. Due to the on-going process of employee shares distribution, the final amount of dividend due to the State Treasury and to other shareholders will be determined on the dividend record date. Other shareholders of the Company will receive cash dividend.

PLN 72.5m of the profit will be used, among other things, for employment restructuring at the PGNiG Group, increasing the social benefits fund and payment of bonuses to employees.

In addition, the Annual General Shareholders Meeting resolved that retained earnings of PLN 76.5m will increase the Company's statutory reserve funds.

The dividend record date and the dividend payment date were set respectively for July 20th 2011 and October 6th 2011.

Joanna Zakrzewska

Spokesperson PGNiG SA