Calyon acted as initial mandated lead arranger, co-documentation bank, bookrunner, and senior facility agent in connection with the USD 1,750 million senior debt facilities for Grupa Lotos S.A.. The agreement was executed by Grupa Lotos S.A. and a group of seventeen banks on June 27th, 2008.

This transaction will finance the upgrade and expansion of Grupa Lotos S.A.'s largest refinery located in Gdansk, Poland, as well as working capital requirements. The 12.5-year financing package consists of:

• a USD 975 million term loan;
• a USD 200 million working capital facility;
• a USD 150 million contingent facility;
• a USD 425 million SACE guaranteed facility.

This transaction contributes to the strengthening of our relationship with Grupa Lotos and positions the bank for important other opportunities.

The deal is the result of a successful collaboration of Calyon teams in Paris, Warsaw and London.

Grupa Lotos S.A. is one of the largest listed Polish companies. Its activities include processing of petroleum, distribution and sale of a wide range of petroleum products, such as lead-free petrols, diesel oils, heating oils, aviation fuel, lubricating oils, asphalts, gases, as well as exploration and production.