02.04.2004 – 09:59

BP plc

euro adhoc: BP PLC
BP SELLS GLOBAL SPECIAL PRODUCTS BUSINESS TO H&R WASAG AG (E)

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

April 2, 2004

BP SELLS GLOBAL SPECIAL PRODUCTS BUSINESS TO
                                  H&R WASAG AG

BP announced today that it has agreed to sell its global special
products business to H&R Wasag AG, a speciality chemicals group
listed on the Frankfurt stock exchange.

The deal follows H&R Wasag's purchase of BP's European Special
Products business which was completed earlier this year.

Subject to a number of approvals, H&R Wasag will acquire BP's
remaining special products production, distribution and sales
activities in South Africa, Australasia, SE Asia, North America and
the UK.

The two parties said that they hoped to complete the transaction on
July 1, 2004.

Notes to Editors:

·        H&R Wasag AG is a speciality chemicals group, headquartered
in Salzbergen, Germany.

·        Special products include waxes, process oils and rubber
additives.

·        The book value of the assets involved in the transaction is
EUR14.5 million.

- ENDS -

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

end of announcement        euro adhoc 02.04.2004

Further inquiry note:

Further information:

BP Press Office, London, tel: +44 (0)207 496 4358
H&R Wasag, Germany, tel: +49 (0)5976 945300

Branche: Energy
ISIN: GB0007980591
WKN: 850517
Index:
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