BP plc

euro adhoc: BP PLC
Mergers - Acquisitions - Takeovers

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BP today announced that it has completed the deal to include Alfa Group and Access-Renova's (AAR's) 50 per cent interest in Slavneft into TNK-BP. Completion of the Slavneft transaction follows receipt of regulatory approvals, including clearance from the European Union.

BP said it has paid some $1.4 billion in cash to AAR. This includes interest charges covering the period from when the transaction became effective on May 1, 2003.

TNK-BP and Sibneft, the other main owner of Slavneft, will continue to work together to finalise an agreement to split the main assets of Slavneft between them.

end of announcement            euro adhoc 16.01.2004

Further inquiry note: Further enquiries: BP press office, London, tel: +44 (0)20 7496 4076/5256/4708/4324/4827

Branche: Energy
ISIN:      GB0007980591
WKN:        850517
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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