MOL mandate for eurobond transaction

MOL Hungarian Oil and Gas Public Limited Company hereby announces that on 28 July 2005 it awarded a mandate for the arrangement of its debut eurobond transaction. BNP Paribas and Dresdner Kleinwort Wasserstein have been appointed as Joint Lead Managers.

The transaction is in line with MOL’s financial strategy, which targets the diversification and rationalisation of the debt portfolio in order to improve financial flexibility. Furthermore, the transaction is expected to benefit from the current favourable market conditions.