Lapse of Letter of Intent

Lapse of Letter of Intent: Offer by Korea National Oil Corporation for Dana Petroleum plc

On 19 August 2010, Schroder Investment Management Limited provided a letter of intent regarding our intention to vote in relation to the proposal with regard to 14,315,380 shares.

In accordance with The City Code on Takeovers and Mergers, Rule 2.11 (d)(i), we advise that we have today disposed of 25,000 shares and are no longer in a position to accept or procure the acceptance of the Offer, in relation to those shares;

Our intention in respect of 14,290,380 shares, being the remainder, remains as described in our Letter of Intent.

Chris Melrose

Manager, AML & Disclosure

Schroders Group Compliance

Tel: +44(0)207 658 4331

Fax: +44(0)207 658 3512

e-mail: [email protected]