Order to purchase treasury shares

MOL Hungarian Oil and Gas Public Limited Company hereby informs capital market participants, that on 22 May 2006 based on the authorisation of the Annual General Meeting held on 27th April 2006, the Company mandated ING Bank Ltd., as investment service provider to purchase treasury shares on the Budapest Stock Exchange.

Currently MOL owns 578 “C” series ordinary shares, in addition to this MOL intends to purchase maximum 60,000 “A” series ordinary shares. The purpose of the programme, based on the authorisation of the Annual General Meeting, is to purchase the shares necessary to the operation of its share-based incentive schemes. The shares to be purchased, based on this mandate, will be distributed to participants of the share-based incentive schemes before the settlement of the call option with ÁPV Zrt.

The Company will inform market participants in extraordinary announcements of any transactions executed.