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euro adhoc: OMV Aktiengesellschaft
Mergers - Acquisitions - Takeovers
OMV acquires OMV ISTRABENZ (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
- Purchase of the remaining 50% of OMV ISTRABENZ Holding Plc. shares
- Increased efficiency through full integration into the OMV Group
- OMV strengthens its position in the Adriatic region
Today OMV, Central Europe’s leading oil and gas group, purchased the
remaining half of the shares in OMV ISTRABENZ Holding Plc., which
will now become a wholly-owned subsidiary of OMV. At the same time
OMV sold its 25% stake in ISTRABENZ d.d. The value of the combined
transaction was EUR 55 million, consisting of a purchase price of EUR
95 mn and a simultaneous sales price of EUR 40 mn for the ISTRABENZ
d.d. shares. Approval by the Slovenian competition authority is
expected in the third quarter. This step strengthens the position of
OMV in the Adriatic region (Slovenia, northern Italy, Croatia, Bosnia
and Herzegovina), where it has a market share of nine percent in the
retail business.
Since 1992 OMV and ISTRABENZ have been working together within the
joint venture OMV ISTRABENZ. The purchase of all the shares will
allow better integration of product supply and faster adjustment to
OMV standards and quality. This will enable OMV to optimally develop
the existing potential for further improvement of its market
position. In addition, business cooperation with ISTRABENZ d.d. will
remain, particularly regarding supply of liquefied gas, storage of
oil products and information technology.
The OMV ISTRABENZ Group sells some 900,000 metric tons of oil
products per annum with a workforce of 298 employees, and by May 2004
it operated 228 filling stations - 83 in Italy, 105 in Slovenia, 30
in Croatia and 10 in Bosnia and Herzegovina. Consolidated sales of
the Group amount to approximately EUR 380 million per year. The
transaction consists of a purchase price of EUR 95 mn, a sales price
of EUR 40 mn, thus leading to an overall transaction value of EUR 55
Mio. Following the purchase of the OMV ISTRABENZ share, existing
financial liabilities of EUR 80 mn will be consolidated.
The headquarters of the company will continue to be in Koper,
Slovenia. From there, OMV will increase its efforts of expanding the
network of filling stations and undertake further investments. OMV
will use options for growth, which includes options for further
acquisitions. Furthermore, OMV intends to step up the existing
business, especially by enhancing service quality in the filling
stations.
end of announcement        euro adhoc 30.06.2004

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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