July 5th 2010, Bucharest, Romania

MOL and its partner, Expert Petroleum ("EP") won licences for the three blocks they have applied for in the bid of the 10th Licensing Round of Romania announced by the Romanian National Agency for Mineral Resources (ANRM).

Followed by the Joint Study and Bidding Agreement signed in December 2009, MOL and Expert Petroleum (MOL 70%, EP 30% participation interest), joined the bidding process initiated by ANRM. The exploration blocks that were announced in the frame of the 10th Licensing Round are sized from 1,000 square km up to 30,000 square km. 12 are located in the Western part of the country, in the Pannonia Basin, 7 are located in Dobrogea, while 11, reaching a total surface of 11,000 square km are in Black Sea continental waters.

Based on the evaluation of the blocks, MOL and Expert decided to select and bid for the most promising three blocks based in Pannonia basin (Ex-1,Ex-5 and Ex-6). The recently obtained three exploration blocks are together 3434 square km and located at Western part of Romania.

The first working phase of the exploration is expected to start in 2011, and according to previous calculations, the blocks have a very good oil and gas potential. Some of these blocks contain an unconventional potential also.

Mr. Attila Holoda, Managing Director of Eurasian E&P of MOL Group said: "With this opportunity MOL Group not only completes its strong Retail presence in our neighbouring country with its Upstream activities, but also broaden its Exploration & Production portfolio in CEE region. We believe MOL can successfully utilise its exploration and production experiences gained in the region. MOL is very optimistic about continuing its outstanding exploration success ratio reached in Pannonia basin in the area of its new blocks."

Mr. Michel Louboutin, General Manager of Expert Petroleum SRL, said: "Expert Petroleum is very pleased with this award that clearly demonstrates the value of the complementarities of the two groups and the success of our relationship where Expert Petroleum brings its local Romanian operating experience and expertise on production enhancement projects on one side and MOL on the other side its large capabilities and success in Exploration and Production in the Pannonia basin. We are looking forward to further success on both side of the border".

Mr. Szabolcs I. Ferencz, MOL Romania Country Chairman added: "Expanding MOL Group scope into Romania with Upstream is a key pillar of our development strategy. Through the transparent and fair bidding procedure carried out by ANRM, now we have reached this scope. Integrating the new operation with the existing activities of MOL Romania, which include retail, fuel card sales, wholesales, petrochemicals and lubricants, is a highly motivational challenge for our subsidiary."