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Ad-hoc Report - Sale of selected non-core real estate owned by Petrom S.A.

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

Date of report: December 8, 2006
Name of issuer: PETROM S.A.
Headquarters: Bucharest, 239 Calea Dorobantilor, district 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:

Sale of selected non-core real estate owned by Petrom S.A.

Petrom SA and Practic SA have signed yesterday the sale and purchase agreement for a package of 16 real estate properties owned by Petrom SA.
The package consists of:

  • five class B office properties in Bucharest with a total built surface of 15,900sqm,
  • two plots of land in Bucharest with total size of 8,000sqm for commercial use,
  • eight small and medium-size hotels (2* - 4*) outside Bucharest (Sianic Moldova 2, Ticleni, Suplac, Valea lui Liman, Eforie Nord, Campina and
  • Ranca)
  • one plot of land near Brasov for commercial/touristic use (28,000sqm)

Following the management decision to focus on the company core business, a competitive bidding process was organized for the sale of the package, Practic SA‘s offer being the best one received. The Parties have agreed not to disclose the price.

Closing of the transaction is expected to take place end of February 2007.

SC Practic SA is a Romanian legal entity established in 1991, having as core activity the renting and subrenting of properties.