euro adhoc: OMV Aktiengesellschaft / Mergers - Acquisitions - Takeovers / OMV Enters Growing Turkish Market: Acquisition of 34% of Petrol Ofisi from Dogan Holding

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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13.03.2006

- OMV and DoEURan Holding will jointly control the leading company in
the Turkish retail and commercial business - Important strategic step
in line with OMV’s 2010 strategy - Evaluation of future cooperation
opportunities in refining, exploration and production

OMV, Central Europe’s leading oil and gas company, has agreed with
the Turkish company Dogan Holding to acquire a 34% stake in Petrol
Ofisi, Turkey’s leading company in the retail and commercial
business. The consideration paid amounts to USD 1.054 billion, which
will be financed through cash flow and existing credit facilities.
The agreement with DoEURan Holding was signed on March 13. After the
sale, Dogan Holding’s stake will be reduced from 86.7% of Petrol
Ofisi to 52.7%. Dogan Holding and OMV will jointly control the
company’s business activities, with both companies operating as equal
partners. The Board of Petrol Ofisi will have 8 directors, four of
which would be appointed by OMV and four by Dogan Holding. Currently
13.2% of the shares are held by other investors with the shares
already listed on the Istanbul Stock Exchange. The agreement is
subject to the approval of the relevant authorities, which is
expected in the second quarter of 2006. Turkey represents an
important market for OMV both for its retail and commercial
businesses, and also because of Turkey’s position as a strategically
important bridgehead to the regions of the Caspian Sea, which are
rich in natural resources.

Market leader in the Turkish retail and commercial business Petrol
Ofisi headquartered in Istanbul is the market leader in refined oil
products in Turkey holding an average market share of 35% in fuel
products and a total sales volume of approximately 8.1 million tons
in 2005. By 2015, this volume is expected increase to 10.3 million in
line with the expected market growth in Turkey. The company owns
800,000 m3 of well located storage facilities representing 29% of
Turkey’s total storage capacity. This capacity will grow even faster.
Furthermore, the company runs a network of 3,631 filling stations.
Petrol Ofisi recorded sales of USD 6.56 billion in the first nine
months 2005. The company employs approximately 1,000 people.

In view of the rapid growth of the Turkish oil market, OMV and Dogan
Holding will jointly evaluate the possibilities of cooperation in the
area of refining - including the potential construction of a new
refinery to meet increasing demand. A presence in Turkey will also
strengthen OMV’s E&P business in its search for new opportunities in
the Middle East and Caspian Region. Such opportunities will jointly
be examined with DoEURan.

end of announcement euro adhoc 13.03.2006 10:21:55
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ots Originaltext: OMV Aktiengesellschaft
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
OMV
Investor Relations:
Ana-Barbara Kuncic
Tel. +43 1 40 440-21443; e-mail: investor.relations@omv.com
Press:
Bettina Gneisz-Al-Ani
Tel. +43 1 40 440-21660; e-mail: bettina.gneisz@omv.com
Thomas Huemer
Tel. +43 1 40 440-21660; e-mail: thomas.huemer@omv.com

Internet Homepage: http://www.omv.com

Branche: Oil & Gas - Downstream activities
ISIN: AT0000743059
WKN: 874341
Index: ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing