January 2003

Mabanaft Takes Over Gamma Mineralölhandelsgesellschaft, Vienna

At the end of January 2003 Mabanaft GmbH acquires all shares (100%) in Gamma Mineralölhandelsgesellschaft mbH, Vienna. This acquisition marks the next step toward the further regional expansion of Mabanaft activities, and strengthens its footprint in Austria. Following the approval of the Austrian Cartel Authority, Gamma would be renamed Mabanaft Austria.

Gamma has many years of experience in trading with mineral oil products, both in Austria and in southeast Europe, where the company is able to take advantage of emerging arbitrage-dealing options. Going forward, Gamma or Mabanaft Austria will work closely with all other Mabanaft companies with the aim of expanding business in Austria on the one hand, and promoting trading activities in southeast Europe on the other.