Ad-hoc Report - New functions for Gheorghe Constantinescu in OMV Group and New CEO of Petrom

In compliance with Law nr. 297/2004 and Regulation no. 1/2006 of CNVM

Date of report : April 5, 2006
Name of issuer : PETROM S.A.
Headquarters : Bucharest, Calea Dorobantilor nr. 239 sector 1
Telephone/fax number : 021 4060101/021 4060436
Sole registration number at the Trade Register Office: 1590082
Fiscal attribute : R
Trade Register Number: J 40/8302/1997
Share capital: 5,600,050,607.8 RON
Regulated market on which the issued shares are traded : Bucharest Stock Exchange

Significant event to be reported:

New functions for Gheorghe Constantinescu in OMV Group and new CEO of Petrom

Mr. Gheorghe Constantinescu, who has been Chief Executive Officer of Petrom since February 2003 and has contributed significantly to the successful development of the company before, during privatization and since then, takes on new responsibilities in OMV Group.

As from June 15th, 2006, he will be appointed Senior Counsellor to the President of OMV Group, Mr. Wolfgang Ruttenstorfer, responsible for the transformation of Petrom following EU regulations to come (product specifications, competition, environment, gas market deregulation etc). In this function he will closely liaise with the OMV/Petrom representative office in Brussels and the OMV headquarter in Vienna.
His today’s responsibilities as Chief Executive Officer of Petrom will be taken over by Mrs. Mariana Gheorghe by June 15th, 2006, who is resigning from Petrom’s Board of Directors as of today. Mrs. Gheorghe has been with the EBRD for the last 13 years, managing a wide range of international financing transactions and working extensively with Romania and Petrom.

Besides the coordination function of the Chief Executive Officer, Mrs. Gheorghe will be responsible for Corporate Strategy, Human Resources, Health / Safety / Environment and Communication.