BP (BP)

Past Directors

        Following his retirement from BP p.l.c., Mr Olver was appointed on July 1, 2004 as a consultant to BP in relation to its activities in Russia. He had previously been appointed as a BP-nominated director of TNK-BP Limited, a joint venture company owned 50% by BP, effective April 20, 2004. Under the consultancy agreement, he received £150,000 in fees in 2004 and, as a director, deputy chairman and chairman of the audit committee of the joint venture company, he received $90,000 in fees from TNK-BP Limited.

        Following his retirement in May 2003, Mr. Rodney Chase was engaged as a consultant to BP in relation to the TNK-BP transaction and was appointed as a BP-nominated director of TNK-BP-Limited. Mr Chase's consultancy to BP ended in May 2004 and he left the board of TNK-BP Limited in March 2004. Under the consultancy agreement, he received $250,000 in 2004 and as a director, deputy chairman and chairman of the audit committee of TNK-BP Limited he received $30,000 in fees from that company.

        Long-term awards for both former directors of BP p.l.c. are in accordance with scheme rules and are outlined in Compensation — 2004 Remuneration for Executive Directors — Long-term Performance-based Components in this Item on page 129.

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Past Directors

        Following his retirement from BP p.l.c., Mr Olver was appointed on July 1, 2004 as a consultant to BP in relation to its activities in Russia. He had previously been appointed as a BP-nominated director of TNK-BP Limited, a joint venture company owned 50% by BP, effective April 20, 2004. Under the consultancy agreement, he received £150,000 in fees in 2004 and, as a director, deputy chairman and chairman of the audit committee of the joint venture company, he received $90,000 in fees from TNK-BP Limited.

        Following his retirement in May 2003, Mr. Rodney Chase was engaged as a consultant to BP in relation to the TNK-BP transaction and was appointed as a BP-nominated director of TNK-BP-Limited. Mr Chase's consultancy to BP ended in May 2004 and he left the board of TNK-BP Limited in March 2004. Under the consultancy agreement, he received $250,000 in 2004 and as a director, deputy chairman and chairman of the audit committee of TNK-BP Limited he received $30,000 in fees from that company.

        Long-term awards for both former directors of BP p.l.c. are in accordance with scheme rules and are outlined in Compensation — 2004 Remuneration for Executive Directors — Long-term Performance-based Components in this Item on page 123.

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