10.02.2004 – 13:17

BP plc

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

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

February 10, 2004

BP CONCLUDES PLACING OF STAKE IN SINOPEC

BP announced today that it has concluded the placing of its entire
2.1 per cent stake in China Petroleum and Chemical Corporation
(Sinopec), announced earlier today.

BP has agreed to sell its stake of around 1.8 billion 'H' shares in
Sinopec at a price of HK$3.15 a share, raising a total of
approximately HK$5.8 billion (US$742 million). Settlement is due to
occur on February 13, 2004.

The placing of the Sinopec shares was arranged by Morgan Stanley on
behalf of BP.

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.

Morgan Stanley & Co. International Limited 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 Morgan Stanley & Co. International Limited 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 10.02.2004

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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