PRESS RELEASE

SUCCESFUL PETROLIMEX IPO

Hanoi July 28, 2011- Today at the auction floor (6th fl. 81 Tran Hung Dao street, Hoan Kiem District, Hanoi), Hanoi Security Exchange –HNX- organized the first public auction of IPO of Vietnam National Petroleum Corporation – PETROLIMEX.

The auction was organized in strict compliance with the Tender Notice published in accordance with Decision No. 317/QD-SGDHN dated July 4, 2011 by Hanoi Security Exchange, in line with the IPO time table announced on the websitewww.petrolimex.com.vnand on public media.

The auction was proceeded with the presence of representatives of leaders of the Ministry of Industry and Trade, The Ministry of Finance (The Enterprise Finance Department), Vietnam National Petroleum Corporation, The Equitization Steering Committee and other Petrolimex advisory and consultancy agencies.

A total number of 27,425,933 shares were publicly tendered.

Three hundred and seven (307) investors registered to buy 30,087,300 shares in which 304 individual investors registered to buy 22,087,300 shares and three (03) corporate investors registered 8,000,000 shares.

As a result, a total of 27,425,933 shares (100% of PETROLIMEX IPO) were sold at the highest price of 19,600 dongs/share (tender lot of 10,000shares) and lowest price at 15,000dongs/share, thus an average price of 15,032 dongs/share was achieved.

Representatives of various Ministries highly acclaimed the preparation of PETROLIMEX for the IPO. Equitization of state enterprises is a major orientation set by the Party, a major policy of the Government, with the determination of pushing national economy more strongly in the new stage. Delegates expressed their belief that imbued with revolutionary tradition, political will and high sense of responsibility, PETROLIMEX will continue its important contribution to the materialization of the above orientation, and will “ ensure a harmonious interest between the State, the enterprise, the investors and the working people of the enterprise”.

On this occasion, Mr. Bui Ngoc Bao, Chairman of the Board of Management / Director General of PETROLIMEX respectfully thanked leaders of the Party, the Government, the Ministry of Industry and Trade, the Ministry of Finance, The State Security Exchange Committee, and various departments for their attention, support and help in solving obstacles for the successful IPO of PETROLIMEX. The leader of Petrolimex also thanked the advisory bodies for Petrolimex equitization ,the Hanoi Security Exchange for their highly professional skill and with a sense of “open-transparent and fair’ who have positively cooperated with Petrolimex in making reports and announcements and the success of IPO. He also thanked the press and mass media for their interest and participation in the event and reporting on this event, giving truthful and objective comments in the IPO process. Special thanks by Petrolimex leader was sent to all Petrolimex shareholders for their good will and responsibility, full understanding and trust in the bright future of Petrolimex, thus their decision to invest in Petrolimex.

The leader of Petrolimex expressed his sincere gratitude to all Petrolimex partners, clients and the public for their confidence in Petrolimex, who have cooperated and will continue to cooperate with Petrolimex for development in a longer term.

IPO is an important moment marking the official entering of Petrolimex into a new stage of essential development. With trust in the leadership of the Party and the Government, with a sense of determination of collective working people, the staff and the leadership, with the confidence of shareholders, partners, clients, the public, PETROLIMEX will with firm steps implement the planned program and advance further in the new phase of development.