Share distribution for the MOL management and employees

MOL Hungarian Oil and Gas Public Limited Company hereby announces that today in accordance with its long-term share incentive scheme it distributed 43,356 MOL shares to 75 senior and middle managers who chose share compensation. The basis for the shares distribution was the fulfilment of the company's 2003 year targets. In addition to this MOL distributed 621 MOL shares to 46 employees who chose share compensation within the cafeteria program.

The following shares were distributed to the executives of MOL:

Name	Position	Distributed shares	MOL share ownership following the transaction
Zsolt Hernádi	Chairman-CEO	7,206	75,189
Michel-Marc Delcommune	GCSO	4,658	22,378
József Molnár	GCFO	730	6,257
Zoltán Áldott	Exploration and Production Division Managing Director	1,963	28,539
Sándor Fasimon	Natural Gas Division Managing Director	887	7,743
Árpád Olvasó	Petrochemical Division Managing Director	824	824

After the transaction MOL has 578 “C” Series Ordinary Shares and zero “A” Series Ordinary Share in treasury.