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OMV Transfers Its Activities in Romania, Bulgaria and Serbia and Montenegro to Petrom

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
17.01.2006
- Upgrading Petrom to serve as a competence center for Southeastern
Europe - Petrom secures sustainable growth through
internationalization - Unchanged presence of the OMV brand in all
countries
OMV, Central Europe’s leading oil and gas group, is transferring its
business in Romania, Bulgaria, and Serbia and Montenegro to its
subsidiary Petrom S.A.  From OMV Refining & Marketing GmbH, Petrom is
acquiring 99.9% of the three companies OMV Romania Mineraloel s.r.l.,
OMV Bulgarien EOOD and OMV Jugoslavija d.o.o.  Petrom will receive
178 OMV filling stations in Romania, Bulgaria, and Serbia and
Montenegro, as well as the corresponding wholesale business.  OMV CEO
Wolfgang Ruttenstorfer said, "This transaction is a significant step
that further strengthens the position of Petrom.  We want to develop
Petrom from a leading oil and gas producer into a fully integrated
oil and gas company in Southeastern Europe and in this way establish
a firm base for Petrom’s sustainable growth." "This is a win-win
situation for the parent company and its subsidiary, since with the
three companies Petrom will be gaining significant know-how and will
be able to serve as a competence center of the OMV group in
Southeastern Europe.  For the OMV companies the new arrangement will
make supply management easier by providing direct access to the
refineries in Romania", according to Ruttenstorfer.  Petrom will then
have an excellent base for internationalization in the downstream
sector - 178 premium filling stations bearing the strong OMV name.
Brand presence in the filling station segment in Southeastern Europe
will continue to be developed using the OMV brand.
Three companies with sales of EUR 425 mn In 2004 the three companies
had sales of EUR 425 mn.  The enterprise value (equity value and
assumed debts) of the three companies has been assessed by KPMG which
has been mandated by Petrom, at Euro 234.4 million.  This equals also
the transaction value and is subject to customary adjustments for
debt and working capital. OMV Romania Mineraloel currently operates
73 filling stations in Romania, all of which have VIVA Shops.  In
Bulgaria there are 74 service stations, as well as a high-tech fuel
storage facility in Iliantzi, Sofia, which is unique in Bulgaria, and
a recently opened storage facility on the Danube.  OMV Jugoslavija
presently runs 31 filling stations.  There also, all are equipped
with VIVA Shops.  The legal form of the three subsidiaries will not
be changed.
Unchanged presence of the OMV brand Brand presence in Bulgaria and
Serbia and Montenegro, as well as the expansion of the network in
these countries, will continue to be developed using the OMV brand.
In Romania the OMV and Petrom brands will be retained.
end of announcement                               euro adhoc 17.01.2006 17:51:48

Further inquiry note:

OMV
Investor Relations:
Ana-Barbara Kuncic
Tel. +43 1 40 440-21443; e-mail: investor.relations@omv.com
Press:
Bettina Gneisz-Al-Ani
Tel. +43 1 40 440-21660; e-mail: bettina.gneisz@omv.com
Thomas Huemer
Tel. +43 1 40 440-21660; e-mail: thomas.huemer@omv.com

Internet Homepage: http://www.omv.com

Branche: Oil & Gas - Downstream activities
ISIN: AT0000743059
WKN: 874341
Index: ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing

Original content of: OMV Aktiengesellschaft, transmitted by news aktuell

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