21.05.2004 – 13:28

OMV Aktiengesellschaft

euro adhoc: OMV Aktiengesellschaft
Mergers - Acquisitions - Takeovers
OMV enters into negotiations on Petrom (E)

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  The issuer is responsible for the content of this announcement.

- Romanian Government names OMV as exclusive negotiation partner for
the privatization of Petrom
- Profitable growth continues to be OMV’s goal

OMV, Central Europe’s leading oil and gas group, welcomes the
decision of the Romanian Government to enter into exclusive
negotiations concerning the acquisition of a 33.34% stake, followed
by an increase in share capital to raise OMV’s shareholding to 51%,
in the Romanian oil group SNP Petrom SA. On April 15, OMV submitted a
binding offer in line with its goal of profitable growth. It has been
agreed by both parties that the details of the negotiations will be
kept confidential.

OMV has presented a well structured offer and development plan for
Petrom which forms the basis for optimizing the company’s future
performance and from which both Petrom and OMV could profit. The
investment needs of Petrom will be financed through the proceeds of
the capital increase, which is an important element of the purchase
price, and through its operating cash flows. OMV will work
constructively with the Romanian Government over the coming weeks to
seek a mutually agreeable conclusion. The talks between the Romanian
Government and OMV will be confidential. An update on the
negotiations will be provided if and when appropriate.

OMV is confident that it will be able to work with the Romanian
Government to agree upon a plan for a promising future for Petrom. In
any event OMV is committed to the Romanian market and will continue
to pursue its successful strategy of profitable growth in this key
Central European market. Through its 100% subsidiary, SC OMV Romania
Mineraloel s.r.l., the OMV Group has been active in Romania for five
years, and in addition OMV has a 25.1% stake in The Rompetrol Group
NV, currently the country’s largest private oil company.

end of announcement        euro adhoc 21.05.2004

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