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Nov 25, 2005

OANDO PLC LISTS ON THE JSE TODAY IN THE OIL AND GAS SECTOR

Oando plc, the Nigerian listed integrated energy solutions provider with operations geographically spread across West Africa , will commence trading on the JSE Limited ("JSE") today. The listing will take the form of an introduction of its entire issued share capital on the main board of the JSE, in the Resources - Oil and Gas sector.
Oando currently has a primary listing on the Nigerian Stock Exchange and at the close of business on Thursday, November 24 2005, had a market capitalisation of US$ 428 million*, based on the Nigerian Stock Exchange closing price of Naira 133 per ordinary share on this date.

Oando focuses on the marketing, trading and distribution of petroleum, crude oil, natural gas and related services.

Group CEO, Mr Wale Tinubu, said today:
"Our entry into the South African market presents us with the opportunity to join the leaders in Pan-African investment - from our base in what we see as the financial capital of Africa ."  Further highlighting the opportunities that the listing will present to Oando, Tinubu added that "The listing on the JSE will improve our profile in global capital markets, increase our investor base, and provide us with an additional source of future growth capital - as well as providing direct investment in Oando for South African residents."

Russell Loubser, CEO of the JSE noted: "We welcome the arrival of Oando as the first West African company to seek a cross-border inward listing on the JSE. This listing is testament to the JSE being recognised by issuers and investors as the centre of liquidity on the continent. We hope to have a lasting relationship with Oando by delivering innovative and world-class products and services to them and our other stakeholders."
Originally focused on downstream petroleum marketing, Oando is an integrated energy solutions provider with operations spread across West Africa , and spanning the energy value chain. Primary businesses include:  
•  Oando Marketing
The leading oil marketing retailer with over 500 retail outlets in Nigeria and operations in Ghana , Togo , Liberia and Republic of Benin

•  Oando Trading
Africa 's largest independent and privately owned oil trading company

•  Gaslink Nigeria
Pioneered the distribution of compressed natural gas via a 100km pipeline to industrial consumers in Nigeria .

•  Oando Power
Developers of dependable Independent Power Plants (IPPs).

•  Oando Energy Services
An integrated Oil Field services company, providing products and services to major upstream companies operating in Nigeria .

•  Oando Production & Development Company
An oil exploration and production company. The company recently won 3 oil blocks in Nigeria .

•  Oando Refinery
Oando is currently bidding for the government's controlling stake in the Port Harcourt refinery, whilst exploring an opportunity to build a 360,000 bpd (barrel per day) Greenfield refinery in the Lagos Export Processing Zone.

Mr. Tinubu added: "We look forward to providing South African and international investors with the many opportunities we offer as a full range energy solutions provider with strengths in power generation and distribution, crude oil exploration and production and refining petroleum products.
"Issued by:
Brunswick Group LLP
Roderick Cameron
Kathy Berman
Lindsay Haines
+ 27 (0) 11 268 5750
Financial adviser and sponsor to Oando:
Deutsche Securities (SA) (Proprietary) Limited

For further information please contact - Oando Plc
Tokunboh Durosaro +234 1 2601290-9
Niyi Olowola +234 803 3022173