BP Closes Period Share Repurchase Program

BP announced today that it has commenced an irrevocable, non-discretionary program to purchase shares on its own behalf, for cancellation, during its close period which commences on April 1, 2004 and ends on April 26, 2004.

Any acquisitions will be effected within certain pre-set parameters, and in accordance with both BP's general authority to repurchase shares and Chapter 15 of the Listing Rules which requires that the maximum price paid be limited to no more than 105 per cent of the average middle market closing price of BP shares for the five dealing days preceding the date of purchase.

The company confirms that it currently has no unpublished price sensitive information.

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