EANS-Adhoc: OMV Aktiengesellschaft / OMV increases share in Petrol Ofisi from 41.58% to 95.75%

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announcement.
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22.10.2010

Update to an already disclosed ad hoc announcement

- Acquisition of 54.17% share in Petrol Ofisi from Dogan Holding: Purchase price
of EUR 1 bn
- OMV gains sole control over one of the leading companies in the Turkish oil
products retail and commercial business
- Strong basis for further integrated growth within Turkey: Numerous advantages
for all OMV business segments
- Presence in Turkey as strategic bridgehead to resource-rich Caspian Region and
Middle East

OMV, the leading energy Group in the European growth belt, today agreed with the
Turkish company Dogan Holding to increase OMV´s stake in Petrol Ofisi A.S., one
of the leading companies in the Turkish oil products retail and commercial
markets, from 41.58% to 95.75%, thereby taking full control of this company
(please refer to EANS ad hoc announcement "OMV and Dogan Holding are in detailed
negotiations regarding an acquisition of Dogan Holding's stake in Petrol Ofisi
by OMV" as of October 20, 2010). This acquisition is a further step in OMV´s
growth strategy and aims at positioning Turkey as a third hub, besides Austria
and Romania, within the integrated energy Group. In addition to the activities
of Petrol Ofisi, the gas-fired power plant in Samsun (under construction) and
the Nabucco gas pipeline project, Turkey represents a strategic bridgehead to
the resource-rich Caspian Region and the Middle East.

OMV agreed to acquire the 54.17% stake from Dogan Holding for EUR 1 bn. Closing
of the transaction, which is subject to approval of the relevant authorities,
including anti-trust clearance, is expected within the next three months. OMV
and Dogan Holding have agreed to distribute a dividend to Petrol Ofisi
shareholders before closing. Based on their respective shareholdings OMV shall
receive USD 203 mn, Dogan Holding USD 265 mn and USD 21 mn shall be paid to
free-float investors.

OMV enters into this acquisition at a point of time when it enjoys a strong
balance sheet, with a sound liquidity position and a gearing ratio consistent
with its long-term target. OMV is committed to strict capital discipline and
intends to fund this acquisition by accessing the most appropriate sources of
long-term capital. OMV retains the clear objective of maintaining a strong
investment grade credit rating and therefore does not exclude raising equity as
one of the available funding options.

Further inquiry note:
OMV
Investor Relations:
Angelika Altendorfer-Zwerenz
Tel. +43 1 40 440-21600
e-mail: [email protected]

Press:
Michaela Huber
Tel. +43 1 40 440-21661
e-mail: [email protected]

Internet Homepage: http://www.omv.com
end of announcement euro adhoc
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issuer:      OMV Aktiengesellschaft
             Trabrennstraße  6-8
             A-1020 Wien
phone:       +43 1 40440/21600
FAX:         +43 1 40440/621600
mail:        [email protected]
WWW:         http://www.omv.com
sector:      Oil & Gas - Downstream activities
ISIN:        AT0000743059
indexes:     ATX Prime, ATX

stockmarkets: official market: Wien
language: English

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