Fourth Quarter Dividend 2010-Allotments for Scrip

28 March 2011

BP PLC

FOURTH QUARTER DIVIDEND FOR 2010

ALLOTMENTS FOR SCRIP DIVIDEND PROGRAMME

Ordinary Shares

BP plc confirms the allotment and issue of 66,581,864 ordinary shares of US$0.25 each ("shares") to shareholders who elected to receive ordinary shares under the scrip dividend programme as an alternative for the fourth quarter dividend for 2010, payable on 28 March 2011. The shares rank pari passu with the existing issued ordinary shares of the Company.

Following the issue of the above shares, the number of ordinary shares in issue will be 20,767,714,056 of which 1,901,649,220 are held as treasury shares or are waiting cancellation leaving a balance of 18,866,064,836 shares with voting rights.

Application has been made to the Financial Services Authority for the shares to be admitted to the Official List and to the London Stock Exchange for the shares to be admitted to trading. Dealings in the shares are expected to commence on 28 March 2011.

American Depositary Shares ("ADSs")

In accordance with the terms of the scrip dividend programme for ADS holders and the Deposit Agreement between BP plc and the Depositary, JPMorgan Chase Bank, 847,385.51 ADSs (each representing 6 ordinary shares) are to be issued to ADS holders who elected to receive ADSs under the scrip dividend programme. This number reflects an adjustment for UK Stamp Duty Reserve Tax (1.5%) and the fee payable to the Depositary under the Deposit Agreement ($0.05 per ADS). Application has been made to the New York Stock Exchange for the listing of the ADSs on the New York Stock Exchange. Dealings in the ADSs are expected to commence on 28 March 2011.

David Pearl

Deputy Company Secretary