MOL Plc and the Croatian government signed the Amendment to the Gas Master Agreement

MOL Plc. hereby informs the capital markets participants that on 16 December 2009 MOL and Republic of Croatia represented by the Government of Croatia (“Government”) signed an agreement amending the Gas Master Agreement as of 30 January 2009.

The main elements of the agreement:

• The deadline for the takeover of the Gas Trading Business by the Government is postponed to 1 December 2010.
• Parties agreed to ensure that Gas Trading Company will operate without generating losses until Government takes it over in 1 December 2010. 
• Parties agreed on hydrocarbon royalty obligation of INA: royalty will be gradually increased until 2015 (with 0.5% each year) and shall be fixed at 10% afterwards for 10 years.

All other main elements of the Gas Master Agreement and the Amendment to the Shareholders Agreement signed in January are unchanged. Thanks to these steps MOL is in the position to provide a parent company loan to INA so material part of the tax liabilities of INA towards the state can be settled by the end of 2009. For the rest of the tax liabilities the Government and MOL shall find additional financing solution in 2010.

MOL Chairman Zsolt Hernadi said: “INA as an integrated company is a key partner for MOL and I am sure that with this agreement we have secured a sustainable ground for the successful future of the company. The agreement is mutually favourable for both the Government and MOL and opens the way to stabilize INA’s financial situation and to continue value creating development of INA’s businesses.”