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Ad-hoc Report - Petrom acquires the OMV stations in Romania, Bulgaria and Serbia-Montenegro

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

Date of report : January 17, 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: 5,664,410,833.5 RON
Regulated market on which the issued shares are traded : Bucharest Stock Exchange

Significant event to be reported:

Petrom acquires the OMV stations in Romania, Bulgaria and Serbia – Montenegro

Petrom, the largest oil & gas producer in South-Eastern Europe consolidates its position in the region by taking over the OMV operations in Romania, Bulgaria, Serbia and Montenegro. The company will hold 99.9% of OMV Romania Mineraloel S.R.L., OMV Bulgaria EOOD and OMV Jugoslavija d.o.o and will operate as a hub for the OMV Group’s activities in South Eastern Europe. This is the most important transaction the company will finalize after the privatization process and certainly a very important step for Petrom’s expansion on the regional markets. Petrom will become a more important player in South-Eastern Europe due to the increased development pace of the company, in line with the company’s strategy for the year 2010.

As a result of the transaction, 178 OMV stations operating at the highest standards belong now to Petrom and will continue to operate under the OMV brand. OMV Mineraloel Romania currently has a network of 73 stations in Romania, which all include Viva shops. In Bulgaria, there are 74 stations and two modern depots. The 31 stations operating in Yugoslavia also have Viva shops. The enterprise value (equity value and assumed debts) of the three companies has been assessed by KPMG which has been mandated by Petrom, at Euro 234.4 million. This equals also the transaction value and is subject to customary adjustments for debt and working capital.

Petrom has approximately 600 filling stations in Romania. This network will be increased by the 178 OMV premium stations in South-eastern Europe.

With significant investments of Euro 500 million until 2010 in the Marketing business alone, Petrom will consolidate its leading market position.