PGE submitted initial bid on acquisition of 82,9% shares in Energa S.A.

The Management Board of PGE Polska Grupa Energetyczna S.A. ("PGE") informs that on June 1, 2010 submitted an initial, not binding bid ("Bid") on an acquisition of 4,120,000,000 shares of Energa S.A. with a legal seat in Gdansk, that account for 82.90% of share capital in that company ("Transaction").In Management Board's opinion initial analyses indicate that acomplishment of the Transaction will lead to several synergy effects and shall transform into increased value for PGE shareholders. This was the rationale behind submitting the Bid.If PGE is allowed to participate in further stages of the Transaction, we will conduct a detailed due-diligence and its effects will be basis for decision about further steps in the Transaction, including submitting of the binding bid.