Joint Statement by BP and the Plaintiffs' Steering Committee

NEW ORLEANS, February 26, 2012/PRNewswire via African Press Organization (APO)/ -- BP and the Plaintiffs' Steering Committee (PSC) confirmed that the U.S. District Court has today adjourned the start of the Deepwater Horizon Multi-District Litigation 2179 civil trial by one week, until Monday, March 5th. This adjournment is intended to allow BP and the PSC more time to continue settlement discussions and attempt to reach an agreement.

BP and the PSC are working to reach agreement to fairly compensate people and businesses affected by the Deepwater Horizon accident and oil spill.

There can be no assurance that these discussions will lead to a settlement agreement. A further announcement will be made as appropriate.

CONTACT

For BP:

Name: BP press office

Telephone: +1-646-625-7499

Email: [email protected]

For the PSC:

Name: David Falkenstein, Sunshine Sachs

Telephone: +1-212-691-2800

Email: [email protected]

Source: BP; Plaintiffs' Steering Committee