Petrol Started to Execute the Agreement on the Sale and Transfer of a 51-percent Interest in Instalacija

Ljubljana, Koper, 30th January, 2012 Today, Petrol d.d., Ljubljana started to implement its obligations under the Agreement of the Sale and Transfer of a 51% interest in Instalacija, d.o.o., after all suspension conditions had been met as defined in the Agreement concluded in September 2011 between Petrol d.d., Ljubjana and Instrabenz d.d..

The purchase of an interest in Instalacija is an important investment through which Petrol increases the security of supply of petroleum products to Slovenia. Further, it represents for Petrol an optimum source of supply of these products to Slovenia, Croatia and part of Bosnia and Herzegovina, and enables the expansion of Petrols activities to the EU market. This business decision will bring a series of benefits through synergy effects, and is an important step in implementing Petrols strategy until 2014. Efficient purchase and logistics are key factors enabling the fulfilment of the companys strategic goals.

The purchase price for the entire 51-percent interest in Instalacija, d.o.o. amounts to EUR 57.8m. The Agreement envisages that the payment and transfer of the 51-percent interest shall be carried out in three parts. The first amount of EUR 31.8m, plus accrued interest defined in the Agreement, was paid today. The remainder of the purchase price is expected to be paid, in accordance with the Agreement, in two equal instalments in 2013.

Instalacija d.o.o., Koper was established in 1991. Its core activities are storage and handing of petroleum products. Instalacija d.o.o. is the biggest and best equipped petroleum storage depot in Slovenia providing petroleum storage services, also for Zavod RS za blagovne reserve. This year, the company will complete the construction of new storage facilities which started last year, to enable the storing of 50,000 m3 of petroleum products for Zavod RS za blagovne rezerve. Technical and technological solutions, the quality of equipment and highly qualified personnel contributed to obtaining the ISO 9001 and ISO 14001 certificates, which proves the high level of environmental protection.