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Joint Ventures/Cooperation/Collaboration / OMV and Dogan discuss strategic cooperation regarding Petrol Ofisi

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
24.01.2006
OMV, Central Europe’s leading oil and gas company, announces that it
has started preliminary discussions with the Turkish company Dogan
Holding concerning a strategic cooperation in oil and gas products
distribution and supply including opportunities in refining and in
exploration and production. Both companies agreed upon
confidentiality of the discussions.
Dogan Sirketler Grubu Holding A.S. (Dogan Holding) Dogan Holding,
majority owned by the founding Dogan Family, ranks among Turkey’s top
five conglomerates. The Group now focuses primarily on media and oil
and gas distribution, as well as insurance, tourism, industry and
commerce. In addition to Dogan Holding, nine other Group Companies
are listed and traded on the Istanbul Stock Exchange (ISE). These
currently include Petrol Ofisi, Dogan Yayin Holding, Hürriyet,
Milliyet, Ray Sigorta, Milpa, Celik Halat, Ditas, and Dogan Burda
Rizzoli. Total market value of listed Dogan Group companies on the
ISE amounts to USD 9.6 billion.  According to 3Q 2005 consolidated
financial results, Dogan Holding’s total sales approached USD 5.0
billion whilst the Group employed a workforce of nearly 11,000. Dogan
Holding’s own current market cap is approximately USD 2.8 billion.
Petrol Ofisi A.S. (POAS) Petrol Ofisi (POAS) was established in 1941
as a State Economic Enterprise by the Turkish Government and is
engaged primarily in the supply and marketing of fuel and gas from
domestic and foreign markets.  The Company was included in the
privatization program in 1990 and in 2000, where 51% of its shares
held by the Privatization Administration were sold to Türkiye Is
Bankasi (Is Bank) and Dogan Holding in one of Turkey’s largest
privatization deals. In September 2005 Is Bank Group’s total POAS
shares were acquired by Dogan Holding. With this recent acquisition
Dogan Holding gained total control of the Company whose remaining
minority shares are publicly traded on the ISE. POAS is the leading
distributor of refined oil products in Turkey with its average 35%
market share in fuel products. With over 800,000 m3 total storage
capacity, the Company has the largest storage capacity accounting for
29% among the distributors, an additional 160,000 m3 storage capacity
investment will be completed in 2006. The Company distributes its
products through dealer owned dealer operated service stations
numbering over 3,500, the largest network, widely dispersed
throughout the whole country. POAS reached USD 6.56 billion net sales
as of 3Q 2005 and market capitalization is approx. USD 1.86 billion.
The company employs 1,034 personnel.
end of announcement                               euro adhoc 24.01.2006 17:56:57

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

Original content of: OMV Aktiengesellschaft, transmitted by news aktuell

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