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November 23, 2005

OANDO WINS "QUOTED COMPANY OF THE YEAR" AND "BEST COMPANY IN THE PETROLEUM MARKETING SECTOR" FOR TWO CONSECUTIVE YEARS

Oando Plc was on Tuesday, November 22, 2005 declared the Quoted Company of the Year for the year 2004 financial year, for the second consecutive time, by The Nigerian Stock Exchange (NSE). By implication, Oando was the best listed company on the Nigerian Stock exchange in the 2004 financial/trading year. The company also maintained its poison as the “Best Company in the Petroleum

As in last edition of the award, the NSE based Oando’s nomination and subsequent winning of both award categories on the company’s adherence to post-Listing requirements and other indices of Corporate Governance such as financial performance and return on investment to its shareholders. 

In emerging the Quoted Company of the 2004 financial year, Oando Plc fulfilled the following selection criteria:

• Satisfactory compliance with statutory requirements
• Compliance and adherence to listing and post-listing requirements of the NSE
• Readability and creativity and comprehensiveness of Annual Reports and Accounts
• Financial Performance/Return on Investment
• Proper conduct of Annual General Meeting

Commenting on the award, Mr. Wale Tinubu stressed “Oando Plc is committed to blazing the trail in Corporate Governance best practices. We are a world class organisation driven by our passion to make a difference. We are indeed appreciative of our shareholders and various stakeholder groups who made this second consecutive win a reality for us. We remain Oando Plc, the premier company driven by excellence”

Oando Plc, with its mission to be Africa ’s leading integrated energy solutions provider, recently received approval to list its shares on the Johannesburg Stock Exchange (JSE) by way of a secondary listing.

For more information, please contact:

Tokunboh Durosaro

Head, Corporate Communications. Oando Plc

Stallion House, 2 Ajose Adeogun Street Victoria Island , Lagos

Phone: 01 262585

Email:tdurosaro@oandoplc.com

www.oandoplc.com