OMV Aktiengesellschaft

euro adhoc: OMV Aktiengesellschaft
Annual & Special Corporate Meetings
OMV Supervisory Board approves new management holding structure (E)

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- Approval to separate the Exploration and Production and Refining and Marketing businesses - Holding structure provides basis for further growth

At its meeting today, the Supervisory Board of OMV Aktiengesellschaft approved the separation of OMV’s businesses Exploration and Production as well as Refining and Marketing including petrochemicals in wholly owned subsidiaries. A resolution to this effect will be on the agenda of the Annual General Meeting on May 18, 2004. Depending on the approval of the Annual General Meeting and the required registration in the Commercial Register at the Commercial Court in Vienna, the new management holding structure should be effective as of July 1, 2004 and with retroactive effect for tax and contractual purposes from January 1, 2004.

A chart of the planned holding structure is available on request.

end of announcement            euro adhoc 22.03.2004
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Further inquiry note: OMV Investor Relations: Brigitte H. Juen Tel. +43 1 404 40-21622; e-mail: investor.relations@omv.com Press: Bettina Gneisz-Al-Ani Tel. +43 1 404 40-21660; e-mail: bettina.gneisz@omv.com Thomas Huemer Tel. +43 1 404 40-21660; e-mail: thomas.huemer@omv.com

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

Branche: Oil & Gas - Downstream activities
ISIN:      AT0000743059
WKN:        074305
Index:    ATX, ATX Prime
Börsen:  Bayerische Börse / official dealing
              Frankfurter Wertpapierbörse / official dealing
              Wiener Börse AG / official dealing
              London Stock Exchange / official dealing



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