Change in the share ownership of senior executives

MOL Hungarian Oil and Gas Plc. and the insider persons concerned hereby announce that on 22 October 2008, 184 convertible bonds were converted into 327,336 shares and allocated to the participants, in accordance with the convertible bond programme as approved by the Extraordinary General Meeting of MOL held on 1 September 2003. On 22 October 2008, the shares were also listed on the Budapest Stock Exchange.

The senior executives converted all their bonds and their MOL share ownership changed as follows:

Name

Position

Share ownership after the share allocation