Agreement with FedEx

19 Jul 2005 07:00

Fortune Oil PLC19 July 2005 19 JULY 2005 FORTUNE OIL PLC BLUESKY SUPPLY TO FEDEX The Board of Fortune Oil plc ("the Company") announces that its 24.5% associateSouth China Bluesky Aviation Oil Co., Ltd ("Bluesky") entered into a frameworkagreement on 15 July 2005 to be the exclusive supplier of jet fuel to the newhub planned by Federal Express Corporation ("FedEx") at the Guangzhou BaiyunInternational Airport. Last week FedEx announced its intention to move itsAsia-Pacific hub from Subic Bay to Guangzhou. It is expected that Bluesky willbegin supplying the new FedEx hub in late 2008. The agreement with FedEx shouldresult in a material increase in jet fuel sales by Bluesky, but it is not yetpossible to assess the overall financial impact on Fortune Oil. ENQUIRIES: Fortune Oil PLC Tel: 020 7589 2233 (UK)Bruce McGowan - Executive Vice Chairman Tel: 00 852 2583 3113 (Hong Kong)John Pexton - Deputy Chief Executive ICIS Limited Tel: 020 7651 8688Archie Berens or 07802 442 486 This information is provided by RNS The company news service from the London Stock Exchange