Andersen Consulting and BP Announce Renewal of Financeand Administrative Outsourcing Agreement...

Business Editors

ANCHORAGE, Alaska & NEW YORK--(BUSINESS WIRE)--Sept. 13, 2000

Andersen Consulting and BP (NYSE: BP) will renew and expand the finance and administrative (F&A) services that Andersen Consulting provides to BP's exploration, production and pipeline operations

Under the 10-year agreement, which is the latest in a series of outsourcing arrangements between the two companies, Andersen Consulting will continue to provide F&A services to BP's exploration, production and pipeline operations in Alaska, with expanded service to support the Prudhoe Bay Eastern Operating Area where BP assumed operatorship recently. Andersen Consulting's Anchorage office and its Senergy Business Center (SBC) in Houston will provide the services, which include accounts payable, general accounting, treasury, financial analysis and consolidated reporting.

"BP's decision to renew and expand the service demonstrates the success of the original agreement" said Tom Blackwell, General Manager of BP's Business Unit Resources. "This agreement demonstrates Andersen Consulting's commitment to provide high quality, cost effective business process services to the exploration and production business of BP in Alaska and around the globe" said D. Michael Rappeport, Andersen Consulting's Client Partner for BP in Alaska.

This new Alaskan agreement between BP and Andersen Consulting follows January's announcement of a 10-year, $200 million contract - the largest-ever downstream energy F&A services outsourcing deal in the United States. In a June, 1999 announcement, Andersen Consulting was awarded a 5-year, $100 million contract to extend its F&A outsourcing arrangement with BP in the UK and Norway.

About Andersen Consulting

Andersen Consulting is an $8.9 billion global management and technology consulting organization whose mission is to help its clients create their future. The firm works with clients from a wide range of industries to bring about far-reaching change by aligning their people, processes and technology with their strategy. Andersen Consulting has more than 65,000 people in 48 countries. Its home page address is http://www.ac.com.

On January 1, 2001, the firm will enter the next century with a new name marking its wholly independent status and reflecting the firm's bold new marketplace positioning.

About BP

BP is one of the world's largest energy companies, with more than 100,000 employees and operations in more than 100 countries. BP's mission is to deliver to consumers the energy they need in a way that minimizes the impact of the company's products and operations on the environment. BP's primary businesses are exploration and production of crude oil and natural gas, refining, marketing, supply and transportation; and manufacturing and marketing of petrochemicals. BP is emerging as a major player in the global gas and power business, and is also the world's largest producer of photovoltaics. In Alaska, BP's 1,450 employees are responsible for production of 800,000 barrels of oil per day.