Financing of the 2009 work program of Pearl project with treasury shares

Based on the agreement signed with Dana Gas and Crescent Petroleum, MOL is allowed to finance its share from the 2009 work program of Pearl project (in which MOL has a 10% stake) fully with treasury shares or partly with treasury shares and cash. Depending on the share price developments on the stock market MOL will choose between share and cash financing.

Therefore, MOL transfers 51,090 pieces of ‘A’ class ordinary shares of MOL in 50%-50% ratio to Dana Gas and Crescent Petroleum by 15 September 2009 and may sell up to 80,000 pieces of ‘A’ class ordinary shares of MOL until 15 October 2009. ING Bank Ltd. and OTP Bank Plc. as investment service providers to be commissioned to carry out the program.