Allotment of series B shares

Management Board of PGE Polska Grupa Energetyczna S.A. (the “Company”) informs that the allotment of ordinary series B bearer shares of the Company with nominal value of PLN 10 each, offered under the public offering by the Company (“Offer Shares”) on the ground of the issue prospectus accepted by the Polish Financial Supervision Authority dated October 9, 2009, as amended (“Prospectus”) was made on November 2, 2009.

The allotment of 259,513,500 (say: two hundred fifty nine million five hundred thirteen thousand five hundred) Offer Shares was accomplished on the terms and conditions set out in the prospectus. 38,927,025 (say: thirty eight million nine hundred twenty seven thousand twenty five) Offer Shares were allotted to retail investors and were taken up by 59,845 retail investors, and 220,586,475 (say: two hundred twenty million five hundred eighty six thousand four hundred seventy five) Offer Shares were allotted to institutional investors. Average reduction rate for retail investors was 96.502%.

Detailed report regarding the completion of Offer Shares subscription will be published within two weeks from the date of subscription completion, in accordance with § 33 section 1 of Regulation of the Minister of Finance dated February 19, 2009 on current and periodic information published by issuers of securities and on conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state. (Dziennik Ustaw of 2009, No. 33, item 259, as amended).