On March 20th 2012, GrażynaPiotrowska-Oliwa, President of Polskie Górnictwo Naftowe i Gazownictwo SA, collected the Bulls and Bears statuette for the WIG20 blue-chip stock which was the best investment in 2011.

2011 was a difficult year for the gas sector in terms of its financial position. Despite those problems PGNiG managed to successfully complete several key projects enhancing Poland's energy security and increasing the Company's value. In 2011, the PGNiG Group's net profit was PLN 1.63bn, having fallen by PLN 831m year on year due to losses incurred on gas sales. One of the main factors driving down net profit was a 6 pp drop in margin on sales of high-methane gas, which declined from 3% in 2010 to -3% in 2011. The Group's operating profit fell 42%, to PLN 1.69bn, however the decrease was offset by higher profitability reported by the Exploration and Production segment, which contributed two thirds of the Group's total operating profit.

On March 19th 2012, the Annual General Meeting of Polskie Górnictwo Naftowe i Gazownictwo SA appointed Ms Ewa Sibrecht-Ośka as a member of the Company's Supervisory Board.

In accordance with the President of the Energy Regulatory Office's decision, PGNiG SA will implement a new gaseous fuel tariff with effect from March 31st 2012. The subscription fees, network rates and rules of settlements with customers will remain unchanged.

Following a competitive recruitment process, the Supervisory Board of Polskie Górnictwo Naftowe i Gazownictwo SA resolved to appoint Ms Grażyna Piotrowska-Oliwa as President of the Management Board, with effect from March 19th 2012, for a joint term of office expiring on March 13th 2014.

On March 1st 2012, PGNiG Technologie, a subsidiary of Polskie Górnictwo Naftowe i Gazownictwo SA, executed an agreement with OGP GAZ-SYSTEM Rembelszczyzna Branch to build a high-pressure gas pipeline between Rembelszczyzna and Gustorzyn. The value of the contract is over PLN 193m, VAT-exclusive.

Polskie Górnictwo Naftowe i Gazownictwo SA reports that as of 6.00am on March 5th 2012 it will lift gas supply limits imposed on ZCh Police and PKN Orlen.

In response to the enormous interest in public consultations on the proposed draft of the Gas Deregulation Programme, PGNiG SA has decided to extend the consultation process by two weeks, until March 13th 2012.

On February 22nd 2012 an official celebration was held at PGNiG SA's Odolanów Branch to mark the completion of the modernisation process.W Oddziale PGNiG SA w Odolanowie odbyło się wczoraj oficjalne zakończenie dwuletniej modernizacji instalacji oczyszczania, skraplania i magazynowania helu.

Polskie Górnictwo Naftowe i Gazownictwo SA hereby reports that, in accordance with the procedure required by the Arbitration Tribunal in Stockholm, on February 20th 2012, the Company filed a suit against OAO Gazprom and OOO Gazprom Export.