Belgium Fuels Business Sale

Burmah Castrol PLC 3 November 1999 BURMAH CASTROL SELLS BELGIUM FUELS BUSINESS Burmah Castrol plc ('Burmah Castrol'), the international specialised lubricants and chemicals group, announces the sale of its Belgian fuels business, Burmah NV, to the Group Octa+/Avia, an independent fuels marketing operation, for approximately BEF 179 million (£2.9 million), in cash. This disposal is consistent with Burmah Castrol's ongoing programme to divest non-core businesses. The business had a turnover (net of duties) in 1998 of BEF760 million (£12 million) and an operating profit of BEF18 million (£0.3 million). After adding back acquisition goodwill of BEF271 million (£5 million), there will be an exceptional loss to Burmah Castrol of approximately BEF300 million (£5 million) arising from the transaction, which is subject to approval by the Belgian competition authorities. Proceeds from the disposal will be used to reduce Burmah Castrol's net borrowings. Tim Stevenson, chief executive of Burmah Castrol, comments: 'This disposal is in line with our strategy to create shareholder value through investment in our core businesses and the divestment of businesses where we do not believe we can add significant value. Other recent disposals include our Irish Fuels, Timber Treatment and Aluminium businesses. In the past 18 months, the value of disposals has amounted to some £36 million. In the same period, we have continued to invest by making a number of acquisitions to strengthen our core businesses, such as Castrol Industrial, Printing, Investment Casting and Releasants.' For further information, please contact: James Alexander, Corporate Affairs director, Burmah Castrol plc 01793 452006 Sharon Ostaszewska, External Relations, Burmah Castrol plc 01793 452946 Rachel Hirst/Harriet Keen, Hogarth Partnership Limited 0171 357 9477 A copy of this release plus further company information is available on our website: www.burmah-castrol.com Notes to Editors: Note 1 Burmah Castrol businesses market specialised lubricant and chemical products and services on a worldwide basis. The group has a turnover close to £3 billion and operating profits of £255 million in 1998. It has over 150 subsidiaries operating in some 55 countries and employs around 20,000 people. Burmah Castrol is based around a series of international businesses, each focused on the specific requirements of its own market place but sharing common characteristics. Four of the group's businesses trade under the Castrol brand name and the remaining businesses operate in speciality chemicals. Note 2 The Belgian fuels business consists of some 115 retail sites, of which 47 are company owned or leased. Note 3 In 1995, Burmah Castrol sold its UK fuels business to The Frost Group for £83 million and since then, has sold its Chilean, Turkish, Swedish and Irish fuels businesses for a total consideration of approximately £100 million. Burmah Castrol's remaining fuels business is in Australia.

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