euro adhoc: BP PLC / BP COMPLETES SALE OF KALTIM PRIMA COAL STAKE TO PT BUMI RESOURCES (E)

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Disclosure announcement transmitted by euro adhoc.
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October 10, 2003

BP COMPLETES SALE OF KALTIM PRIMA COAL STAKE TO
                               PT BUMI RESOURCES

BP announced today that it has completed the sale of its 50 per cent
interest in the Indonesian coal mining company PT Kaltim Prima Coal
(KPC) to PT Bumi Resources for $250 million in cash including assumed
debt.

PT Bumi Resources, a publicly quoted Indonesian company, has also
completed an identical deal with Rio Tinto for their 50 per cent
interest in KPC and is therefore now the sole owner of KPC.

The completion of the KPC sale means that BP no longer has any coal
interests, its other coal operations having been sold in 1989-90.

Notes to Editors:

· KPC operates a world-class coal mine located near Sangatta in East
Kalimantan, Indonesia, which produces around 18 million tonnes of
steaming coal per annum.

· KPC directly employs about 2,700 people and contributes around $450
million each year in export revenue to Indonesia.

· BP's advisors on the transaction were JP Morgan (financial) and
Linklaters (legal).

- ENDS -

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

Further inquiry note:
Further information: BP Press Office, London,
tel: +44 (0)207 496 4358/4708
Tel: +44 20 7496 4062
Email: tomalij@bp.com

end of announcement        euro adhoc 10.10.2003
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Emittent: BP PLC
          1 ST JAMES SQUARE
          UK-SW1Y4PD LONDON
Tel:      +44 20 7496 4062
Email:    tomalij@bp.com
WWW:      http://www.bp.com
ISIN:     GB0007980591
WKN:      850517
Indizes:
Börsen:   official dealing Hamburger Wertpapierbörse, Börse

Düsseldorf, Frankfurter Wertpapierbörse, SWX Swiss Exchange, London
Stock Exchange; free trade Niedersächsische Börse zu Hannover,
Berliner Wertpapierbörse, Bayerische Börse, Baden-Württembergische
Wertpapierbörse
Branche: Energy
Sprache: Englisch

OTS0127    2003-10-10/11:57

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