Transaction in Own Shares

BP PLC
23 December 2004

BP close period share repurchase programme

BP plc announces that it has commenced an irrevocable, non-discretionary
programme to purchase shares on its own behalf, for cancellation, during its
close period which commences on 1st January 2005 and ends on 7th February 2005.

Any acquisitions will be effected within certain pre-set parameters, and in
accordance with both BP's general authority to repurchase shares and Chapter 15
of the Listing Rules which requires that the maximum price paid be limited to no
more than 105 per cent of the average middle market closing price of BP shares
for the 5 dealing days preceding the date of purchase. The company confirms that
it currently has no unpublished price sensitive information.

Further enquiries:
BP Press Office: [phone]


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