PetroProd Ltd. (OSL:PROD) Petroprod LTD Summons To Bondholder`s Meeting For Bondholders In 10.85 Per Cent Secured Callable Bond Issue 2007/2013

PetroProd Ltd. (OSL:PROD) PetroProd Ltd (`PetroProd`) summons to bondholder`s meeting for all bondholders in the bond loan of the company (ISIN NO 0010368996) (the "Loan agreement"). Please find attached the summons letter which is also available at the web pages of Norsk Tillitsmann (the Trustee) www.stamdata.no. The summons letter will be distributed to all bondholders trough the Norwegian Central Securities Depositary (`Verdipapirsentralen`).

Inside the summons letter is also an update on the Company. The main purpose of this meeting is to propose for the postponement of the equity requirement stated in Clause 6.6 first paragraph of the loan agreement.

The bondholder`s meeting is summoned on 19th December 2008 (13:00, Oslo time) in the premises of Norsk Tillitsmann ASA, Haakon VII's gate 1, Oslo.

Pareto Securities AS is acting as PetroProd`s financial advisor.

11 December 2008

PetroProd Ltd

Contact: Martin Nordaas : + 65 9138-3199 Jon Skabo : +44-788-055-2333
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



LINK: http://hugin.info/138379/R/1276854/284456.pdf

PetroProd Ltd.

http://www.petroprod.com

ISIN: KYG7053Q1064

Stock Identifier: OSE.PPROD