Rosneft has informed BP of Rosneft’s interest in a potential acquisition of BP participation in TNK-BP

As a result, the parties agreed to commence negotiations on this matter and signed a non-disclosure agreement.

Rosneft has been informed that the other TNK-BP shareholders have also indicated their interest in acquiring part or all of BP’s participation and that BP has an obligation under the shareholders’ agreement to negotiate in good faith with the other shareholders.

Rosneft believes that an acquisition of BP’s interest in TNK-BP would be in the best interest of both Rosneft’s and BP’s shareholders and would lead to further development of TNK-BP.

There can be no assurance that Rosneft and BP will enter into any transaction involving TNK-BP.

A further announcement will be made when and if appropriate.