NOTICE OF RELEASE OF GUARANTORS

Alliance Oil Company Ltd 

22.12.2011 14:00
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                            ALLIANCE OIL COMPANY LTD.

                                 (the 'Issuer')

                                        

                                U.S.$350,000,000

                    9.875 per cent. Guaranteed Notes due 2015

        ISINs: US018760AA67 (Rule 144A) and XS0493579238 (Regulation S)

     CUSIP: 018760AA6 (Rule 144A) and Common Code: 049357923 (Regulation S)

                                 (the ' Notes')



In accordance with Condition 4.11.5 of the Notes, notice is given of the
release of Closed Joint Stock Company Saneco ('Saneco') and Open Joint Stock
Company Oil Company Alliance ('NK Alliance') as Guarantors under the Notes and
the Trust Deed dated 11 March 2010 constituting the Notes (the 'Trust Deed').
Capitalised terms used in this notice shall have the same meanings given to
them in the terms and conditions of the Notes and the Trust Deed. 

The Issuer confirms that, following the release of Saneco and NK Alliance as
Guarantors, the remaining Guarantors in the aggregate constitute 93% of the
Group's consolidated total revenues for the six month period ended 30 June 2011
and 90% of the Group's consolidated net assets as at 30 June 2011. Accordingly,
the conditions for the release of Saneco and NK Alliance as Guarantors as
contained in Condition 4.11.4 of the Notes are met. 

This notice is given by Alliance Oil Company Ltd.
News Source: NASDAQ OMX



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Language:     English
Company:      Alliance Oil Company Ltd
              
               
              Sweden
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         SE0000739286
WKN:          
 
End of Announcement                             DGAP News-Service
 
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