BUCHAREST, ROMANIA - June 18, 2008 : –A combined-cycle power plant in Brazi, Romania to be built for oil and gas producer Petrom S.A. will be the first application of GE Energy's highly efficient Frame 9FB gas turbine in Romania, further expanding GE's growing presence in the country.

GE Energy together with its consortium partner Metka (Metal Constructions of Greece, S.A.) plans to build one of the region's largest gas-fired power plants at Petrom's refinery in Brazi, located near Ploieşti, Romania approximately 60 kilometers from Bucharest.

This large turnkey project is a 'first' for GE Energy in the region, according to Rod Christie, region executive-Eastern Europe for GE Energy. "It underscores our commitment to supply advanced, reliable power generation equipment and services that will help our customers meet the region's growing need for reliable sources of energy," he said.

Romania is one of the fastest growing GE locations in Europe. "Our goal is to create growth by matching Romania's potential with GE's proven equipment and services, not only helping to increase customers' competitiveness but also anticipating their needs and advancing the upgrade of infrastructure in the country," noted Christie.

GE has been active in Romania since 1984, and today has more than 900 employees in the country, with businesses operating in the energy, aviation, healthcare, lighting and power prot ection, financial and real estate sectors. GE Energy has supplied equipment for a variety of power projects in Romania including nuclear, combined heat and power and industrial cogeneration applications.

The Brazi project is Romania's largest investment in the power generation sector since the Cernavoda Unit 2 nuclear project, which began in 1989. It also marks the entry of Petrom and its parent company, OMV, into the power generation industry. "This plant will help us achieve our goal to produce approximately eight to nine percent of the country's electricity by 2012," said Gerald Kappes, a member of Petrom's Executive Board.

The new combined-cycle plant would produce approximately 860 megawatts of power. Approximately 20 percent of the plant's electricity output would be used by Petrom for its own operations, with the remainder sold on the Romanian power grid.

Construction start is planned for early in 2009 and the plant is expected to begin supplying power to the national power network in the second half of 2011. With a thermal efficiency of more than 57 percent, the facility plans to be among the most efficient in Eastern Europe.

GE's scope of supply is two Frame 9FB gas turbines, a GE 209D steam turbine, three hydrogen -cooled generators, two heat recovery steam generators and a Mark VIe integrated control system for the new combined-cycle plant. The Frame 9FB is the newest member of GE's fleet of F-class gas turbines, which has compiled more than 23 million hours of service in power plants worldwide.

In addition to equipment supply, GE provides project management services and commissioning services, and acts as leader of the consortium. Metka, who specializes in the construction of energy projects supplies balance-of-plant equipment, engineering and construction services.

Based in Bucharest, Petrom is the largest Romanian oil and gas group, with activities in exploration and production, refining, petrochemicals and natural gas. Petrom is a member of the OMV Group of Austria, the leading oil and gas company in Central Europe. GE has a long-standing relationship with OMV and has provided the company with gas turbines, compressors and other oil and gas equipment over the years.

About GE Energy

GE Energy (www.ge.com/energy) is one of the world's leading suppliers of power generation and energy delivery technologies, with 2007 revenue of $22 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels. Numerous GE Energy products are certified under ecomagination, GE's corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.

About GE

GE is Imagination at Work–diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from air craft engines, power generation, water processing and security technology to medical imaging, business and consumer financing and media content, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at http://www.ge.com.

About Petrom SA

Petrom is the largest Romanian oil and gas group, with activities in the business segments of Exploration and Production, Refining and Marketing as well as Gas and Power. Petrom exploits estimated proved oil and gas reserves of 0.9 bn boe, has an annual refining capacity of 8 million tons and holds around 550 filling stations in Romania. The company also has an international network of 257 filling stations located in Moldova, Bulgaria and Serbia. In 2007 the turnover of Petrom was EUR 3,683 mn, EBITDA was EUR 933 mn.

OMV, the leading oil and gas group in Central Europe holds a 51.011% share in Petrom. OMV is active in 13 Central European countries in its Refining and Marketing business segment and in 21 countries on five continents in Exploration and Production. AVAS (Authority for State Assets Recovery) holds Page 3 of 3 GE Energy June 18, 2008 20.64% of Petrom shares, Property Fund SA holds 20.11%, the European Bank for Reconstruction and Development 2.026% and 6.214% are owned by minority shareholders.

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