The management of CAO is pleased to announce that on 8 November 2002, CAO has obtained the final approval from the Spanish government regarding its acquisition of a 5% equity interest (3,502,923 Class 'C' shares) in Compania Logistica De Hidrocarburos CLH, S.A ('CLH').

With the final approval from the Council of Ministers, CAO will be able to enjoy the same benefits and rights as the other shareholders in CLH.