BP plc

euro adhoc: BP PLC
BP AGREES TO SELL EUROPEAN SPECIAL PRODUCTS BUSINESS TO H&R WASAG AG (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- October 9, 2003 BP AGREES TO SELL EUROPEAN SPECIAL PRODUCTS BUSINESS TO H&R WASAG AG BP and H&R WASAG AG announced today that they have reached agreement in principle for H&R WASAG to purchase BP's European Special Products business, including the Neuhof base oil refinery in Hamburg, Germany. Subject to a number of approvals and after appropriate employee consultation, H& R WASAG will acquire BP's entire special products business in Europe which produces and markets specialist products such as waxes, process oils and rubber additives. This comprises the 5,000 barrels a day capacity specialist base oil refinery at Neuhof and part of the associated blending facilities; two UK manufacturing plants at Chorley, Lancashire and Tipton, West Midlands; a manufacturing plant near Maastricht, the Netherlands; and marketing operations in Spain, Portugal, Benelux, Germany, Eastern and Northern Europe and the UK. In addition BP will supply H&R WASAG with 200,000 tonnes of special products a year from the Coryton refinery in the UK. The two parties said that they hoped to complete the transaction early next year and that they did not anticipate any job losses as a result. Notes to Editors: · H&R WASAG is a speciality chemicals group listed on the Frankfurt stock exchange. It is based in Salzbergen where it already operates a specialist refinery producing 300,000 tonnes per annum · The book value of the assets involved in the transaction is $30 million · The deal does not include BP's shareholding in the Spanish Lubrisur joint venture or the Neuhof North blending plant which will continue to be core to BP's automotove, industrial and commercial lubricants business. This information is provided by RNS The company news service from the London Stock Exchange end of announcement euro adhoc 09.10.2003 --------------------------------------------------------------------- Further inquiry note: BP PLC Jude Tomalin 020 7496 4062 Branche: Energy ISIN: GB0007980591 WKN: 850517 Index: Börsen: Hamburger Wertpapierbörse / official dealing Börse Düsseldorf / official dealing Frankfurter Wertpapierbörse / official dealing SWX Swiss Exchange / official dealing London Stock Exchange / official dealing Niedersächsische Börse zu Hannover / free trade Berliner Wertpapierbörse / free trade Bayerische Börse / free trade Baden-Württembergische Wertpapierbörse / free trade

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