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euro adhoc: OMV Aktiengesellschaft (english)

Wien, 21.05.2004 - Disclosure announcement transmitted by euro adhoc.The issuer is responsible for the content of this announcement.

OMV Aktiengesellschaft OMV enters into negotiations on Petrom

- Romanian Government names OMV as exclusivenegotiation partner for the privatization of Petrom - Profitable growth continues to be OMV?s goal

OMV, Central Europe?s leading oil and gas group, welcomes thedecision of the Romanian Government to enter into exclusivenegotiations concerning the acquisition of a 33.34% stake, followedby an increase in share capital to raise OMV?s shareholding to 51%,in the Romanian oil group SNP Petrom SA. On April 15, OMV submitted abinding offer in line with its goal of profitable growth. It has beenagreed by both parties that the details of the negotiations will bekept confidential.

OMV has presented a well structured offer and development plan forPetrom which forms the basis for optimizing the company?s futureperformance and from which both Petrom and OMV could profit. Theinvestment needs of Petrom will be financed through the proceeds ofthe capital increase, which is an important element of the purchaseprice, and through its operating cash flows. OMV will workconstructively with the Romanian Government over the coming weeks toseek a mutually agreeable conclusion. The talks between the RomanianGovernment and OMV will be confidential. An update on thenegotiations will be provided if and when appropriate.

OMV is confident that it will be able to work with the RomanianGovernment to agree upon a plan for a promising future for Petrom. Inany event OMV is committed to the Romanian market and will continueto pursue its successful strategy of profitable growth in this keyCentral European market. Through its 100% subsidiary, SC OMV RomaniaMineraloel s.r.l., the OMV Group has been active in Romania for fiveyears, and in addition OMV has a 25.1% stake in The Rompetrol GroupNV, currently the country?s largest private oil company.

Further inquiry note:OMVInvestor Relations:Brigitte H. JuenTel. +43 1 404 40-21622; e-mail: investor.relations@omv.comPress:Bettina Gneisz-Al-AniTel. +43 1 404 40-21660; e-mail: bettina.gneisz@omv.comThomas Huemer Tel. +43 1 404 40-21660; e-mail: thomas.huemer@omv.com

Internet Homepage: http://www.omv.comTel: +43 1 40440/21622FAX: +43 1 40440/29496Email: investor.relations@omv.com

Ende der Mitteilung

WKN: 074305ISIN: AT0000743059Marktsegment: ATX, ATX Prime, official dealing Bayerische Börse,Frankfurter Wertpapierbörse, Wiener Börse AG, London Stock Exchange

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