BP (BP)

Miscellaneous terms

'ADR' — American Depositary Receipt.

'ADS' — American Depositary Share.

'Amoco' — The former Amoco Corporation and its subsidiaries.

'Atlantic Richfield' — Atlantic Richfield Company and its subsidiaries.

'Associated undertaking' — An undertaking in which the BP Group has a participating interest and over whose operating and financial policy the BP Group exercises a significant influence (presumed to be the case where 20% or more of the voting rights are held) and which is not a subsidiary undertaking.

'Barrel' — 42 US gallons.

'BP', 'BP Group' or the 'Group' — BP p.l.c. and its subsidiaries.

'Burmah Castrol' — Burmah Castrol plc and its subsidiaries.

'Cent' or 'c' — One hundredth of the US dollar.

The 'Company' — BP p.l.c.

'Liquids' — Crude oil, condensate and natural gas liquids.

'Dollar' or '$' — The US dollar.

'FSA' — Financial Services Authority.

'Gas' — Natural Gas.

'Hydrocarbons' — Crude oil and natural gas.

'IFRS' — International Financial Reporting Standards.

'Joint venture or JV' — an entity in which the Group has a long-term interest and shares control with one or more co-venturers.

'LNG' — Liquefied Natural Gas.

'London Stock Exchange' or 'LSE' — London Stock Exchange Limited.

'LPG' — Liquefied Petroleum Gas.

'mmbtu' — million British thermal units.

'MTBE' — Methyl Tertiary Butyl Ether.

'NGL' — Natural Gas Liquid.

'Noon Buying Rate' — The noon buying rate in New York City for cable transfers in pounds as certified for customs purposes by the Federal Reserve Bank of New York.

'OECD' — Organization for Economic Cooperation and Development.

'OPEC' — The Organization of Petroleum Exporting Countries.

'Ordinary Shares' — Ordinary fully paid shares in BP p.l.c. of 25c each.

'Pence' or 'p' — One hundredth of a pound sterling.

'Pound', 'sterling' or '£' — The pound sterling.

'Preference Shares' — Cumulative First Preference Shares and Cumulative Second Preference Shares in BP p.l.c. of £1 each.

6

'Subsidiary undertaking' — An undertaking in which the BP Group holds a majority of the voting rights.

'Tonne' — 2,204.6 pounds.

'UK' — United Kingdom of Great Britain and Northern Ireland.

'UK GAAP' — Generally Accepted Accounting Practice in the UK.

'Undertaking' — A body corporate, partnership or an unincorporated association, carrying on a trade or business.

'US' or 'USA' — United States of America.

'US GAAP' — Generally Accepted Accounting Principles in the USA.

7

PART I

ITEM 1 — IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS

        Not applicable.

ITEM 2 — OFFER STATISTICS AND EXPECTED TIMETABLE

        Not applicable.

ITEM 3 — KEY INFORMATION

SELECTED FINANCIAL INFORMATION

Miscellaneous terms

'ADR' — American Depositary Receipt.

'ADS' — American Depositary Share.

'Amoco' — The former Amoco Corporation and its subsidiaries.

'Atlantic Richfield' — Atlantic Richfield Company and its subsidiaries.

'Associated undertaking' — An undertaking in which the BP Group has a participating interest and over whose operating and financial policy the BP Group exercises a significant influence (presumed to be the case where 20% or more of the voting rights are held) and which is not a subsidiary undertaking.

'Barrel' — 42 US gallons.

'BP', 'BP Group' or the 'Group' — BP p.l.c. and its subsidiaries.

'Burmah Castrol' — Burmah Castrol plc and its subsidiaries.

'Cent' or 'c' — One hundredth of the US dollar.

The 'Company' — BP p.l.c.

'Liquids' — Crude oil, condensate and natural gas liquids.

'Dollar' or '$' — The US dollar.

'FSA' — Financial Services Authority.

'Gas' — Natural Gas.

'Hydrocarbons' — Crude oil and natural gas.

'IFRS' — International Financial Reporting Standards.

'Joint venture or JV' — an entity in which the Group has a long-term interest and shares control with one or more co-venturers.

'LNG' — Liquefied Natural Gas.

'London Stock Exchange' or 'LSE' — London Stock Exchange Limited.

'LPG' — Liquefied Petroleum Gas.

'mmbtu' — million British thermal units.

'MTBE' — Methyl Tertiary Butyl Ether.

'NGL' — Natural Gas Liquid.

'Noon Buying Rate' — The noon buying rate in New York City for cable transfers in pounds as certified for customs purposes by the Federal Reserve Bank of New York.

'OECD' — Organization for Economic Cooperation and Development.

'OPEC' — The Organization of Petroleum Exporting Countries.

'Ordinary Shares' — Ordinary fully paid shares in BP p.l.c. of 25c each.

'Pence' or 'p' — One hundredth of a pound sterling.

'Pound', 'sterling' or '£' — The pound sterling.

'Preference Shares' — Cumulative First Preference Shares and Cumulative Second Preference Shares in BP p.l.c. of £1 each.

5

'Subsidiary undertaking' — An undertaking in which the BP Group holds a majority of the voting rights.

'Tonne' — 2,204.6 pounds.

'UK' — United Kingdom of Great Britain and Northern Ireland.

'UK GAAP' — Generally Accepted Accounting Practice in the UK.

'Undertaking' — A body corporate, partnership or an unincorporated association, carrying on a trade or business.

'US' or 'USA' — United States of America.

'US GAAP' — Generally Accepted Accounting Principles in the USA.

6

PART I

ITEM 1 — IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISORS

        Not applicable.

ITEM 2 — OFFER STATISTICS AND EXPECTED TIMETABLE

        Not applicable.

ITEM 3 — KEY INFORMATION

SELECTED FINANCIAL INFORMATION