30.01.2003 – 11:20

BP plc

euro adhoc: BP PLC
Disposal (E)

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

January 30, 2003

BP COMPLETES DISPOSAL OF BURMAH CASTROL CHEMICALS BUSINESSES WITH
SALE OF FOSROC MINING

BP announced today that it has reached agreement to sell Fosroc
Mining, the speciality  mining chemicals business of Burmah Castrol,
to funds managed by Close Brothers Private Equity Ltd.

Fosroc Mining will be purchased from Burmah Castrol plc and its
affiliates for £32 million in cash and assumed debt. Subject to
regulatory and other approvals, the companies expect to complete the
transaction during the first quarter of 2003.

The sale of Fosroc Mining will complete the divestment of the
speciality chemicals businesses acquired by BP in its purchase of
Burmah Castrol in 2000.

Fosroc Mining is a world leader in the supply of speciality chemicals
and consumables to the global mining industry, with products
including resin capsules, injection grouts, sealants and other
consumables together with strong technical advice and support
services to enhance the efficiency and safety of the global mining
industry.

Fosroc Mining has a total of thirteen manufacturing sites in seven
countries.  Its main manufacturing facilities are in the United
States, Germany, Australia, South Africa and Poland. The company
employs around 1000 staff worldwide and had 2002 turnover of some £84
million from over 40 countries.

Close Brothers Private Equity is a leading player in mid-market UK
private equity investment; typically investing in UK-based
transactions with a value of between £10 million and £75 million. On
completion of the purchase, Fosroc Mining will continue to be led by
the existing management team, headed by chief executive Sandy
Arbuthnot.

BP was advised in this sale by Credit Suisse First Boston.

- ENDS -

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

end of announcement        euro adhoc 30.01.2003

Further inquiry note:

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

Branche: Energy
ISIN: GB0007980591
WKN: 850517
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