INA’s announcement about its Syrian operation

MOL Plc. hereby informs the capital market participants that INA, d.d. made a Stock Exchange announcement today about its Syrian operation.

According to this, International news agencies and news editions have made certain announcements indicating payment issues with other international oil companies present in Syria, i.e. not receiving payments from the Syrian party. In light of these data and current developments in Syria, INA is providing update in line the previously made announcements relating to Syira and information provided in the quarterly reports.

According to this currently the company has not received one monthly payment for September 2011, which was due by the end of October. At this point, neither INA, nor MOL does not have appropriate basis, which would indicate the extent of non-payment of future receivables, as well.

Current developments in Syria in the respect of the restrictive measures which have been imposed against Syria by EU could have an adverse effect on company’s business and operations in Syria. INA will continue to closely monitor the developments relating to Syria and will provide the public with information on these developments. 

Further information is available on INA website: www.ina.hr

For further information, please contact:

Investor Relations        + 36 1 464 1395

facsimile:                    + 36 1 464 1335