Extension of option rights on MOL shares held by BNP Paribas

MOL Hungarian Oil and Gas Public Limited Company ("MOL") hereby announces that BNP Paribas SA ("BNP") and MOL signed agreements on 13 December 2007 regarding Series "A" Ordinary Shares of MOL held by BNP.

According to these agreements, the option rights on certain MOL shares held by BNP are extended until 18 June 2009. Following completion of the transaction, MOL will receive an American call option on 8,957,091 "A" series MOL shares from BNP, in addition BNP will receive an European put option on the same number of MOL shares from MOL.

The exercise price for 7,552,874 shares (Tranche A) is USD 34.78583 per share, while the exercise price for 1,404,217 shares (Tranche B) is USD 109.83794 per share. The exercise prices were based on the original agreements signed on 23 December 2005 (Tranche A) and on 10 April 2006 (Tranche B).