13.01.2004 – 08:35

BP plc

euro adhoc: BP PLC
BP CONCLUDES PLACING OF STAKE IN PETROCHINA (E)

  Disclosure announcement transmitted by euro adhoc.
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press release

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN CANADA,
AUSTRALIA OR JAPAN

January 13, 2004

BP CONCLUDES PLACING OF STAKE IN PETROCHINA

BP announced today that it has concluded the placing of its 2 per
cent stake in PetroChina Company Limited (PetroChina), announced
yesterday. Settlement is due to occur on January 15, 2004.

The sale of the stake of around 3.5 billion shares in PetroChina was
effected through a bookbuilt placing on public markets for HK$3.70
per share, a total of approximately HK$13 billion (US$1.65 billion).

The placing of the shares was arranged by Goldman Sachs
International.

This announcement does not constitute or form part of an offer,
solicitation of an offer or invitation to purchase or subscribe for
securities in any jurisdiction.

Goldman Sachs International is acting for BP in connection with the
placing and no one else and will not be responsible to anyone other
than BP for providing the protections offered to clients of Goldman
Sachs International nor for providing advice in relation to the
placing.

- ENDS -

This information is provided by RNS
       The company news service from the London Stock Exchange

end of announcement        euro adhoc 13.01.2004

Further inquiry note:

Further enquiries:

David Nicholas, BP press office: +44 (0)20 7496 4708

Branche: Energy
ISIN: GB0007980591
WKN: 850517
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