Gas price increase

MOL Hungarian Oil and Gas Company hereby announces that the Minister of Economy and Transport will increase the end-user price of natural gas sold to non-household consumers by an average of 19% from 1 November 2005. Volumes sold to non-household consumers represent roughly two-thirds of MOL’s annual gas sales volume. The extraordinary gas price increase has been triggered by the continuous increase in the import gas price. 
According to our calculation, if the import gas price and foreign exchange rates develop in line with expectations, the current gas price increase will cover the justified costs of the public utility wholesale company in the non-household consumer segment in Q4 2005.