Issue of Equity

BP PLC
20 September 2004

                BP LISTS NEW SHARES FOR PAYMENT TO TNK PARTNERS

BP announced today (September 20, 2004) that it has applied for a total of
139,095,888 Ordinary Shares of US$0.25 ('shares') to be admitted to the Official
List.

These shares are being issued today to Alfa Oil & Gas Holdings Limited (AlfaCo,
69,547,944 shares), Cromwell Resources Limited (AccessCo, 34,773,972 shares) and
Starlite Investments Corp. (RenovaCo, 34,773,972 shares) as the first of three
tranches of deferred consideration in connection with the amended and re-stated
sale and purchase agreement relating to the formation of TNK-BP, dated August
29, 2003. They will rank pari passu with the existing Ordinary Shares.

Dealings are expected to commence today.




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